2D Barcode Reader Global Market Report 2024 To 2033 | Honeywell International, Inc., Omron Corporation, Keyence Corporation, Cognex Corporation, Datalogic S.p.A

The Business Research Company recently released a comprehensive report on the Global 2D Barcode Reader Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The 2d barcode reader market size has grown strongly in recent years. It will grow from $6.85 billion in 2023 to $7.33 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growth in world population and increasing use of barcode scanners in healthcare.

The 2d barcode reader market size is expected to see strong growth in the next few years. It will grow to $9.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The growth in the forecast period can be attributed to global population growth and urbanization, rapid growth in ecommerce, rising spend on leisure, increasing retail penetration, increasing internet penetration and smartphone usage and growing preference for contactless delivery solutions. Major trends in the forecast period include adopting high-speed, omnidirectional readers, introducing next generation of barcode scanners, focus on technologically advanced reader systems, leverage ai-empowered reader systems and develop barcode scanners for web.

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Market Drivers and Trends:

The increase in demand in the e-commerce and logistics sectors is expected to propel the growth of the 2D barcode reader market over the coming years. The growing incidence of online shopping is considered one of the driving factors for the growth in the e-commerce and logistics sectors, leading to the deployment of more distribution centers and warehouses and driving the 2D barcode reader industry. The Indian market for e-commerce increased by 36% in 2020 and is expected to reach up to USD 111 billion by 2024, leading to the increasing growth rate of the 2D barcode reader market as well. Therefore, the growing e-commerce and logistics industries drive the 2D barcode reader market.

The development of technologically advanced reader systems across the market is a key trend gaining popularity in the 2D barcode reader market. The various technologically advanced barcode readers implemented across the market are comprised of QR codes, Data Matrix, PDF417, Aztech 2D, machine vision, digital image scanning, RFID, decoding technology, etc. Many companies operating 2D barcode readers are adopting RFID technology. For instance, in December 2021, Denso Wave launched an SP1 scanner with an autopilot function. It is an advancement to the RFID scanner which enables smart devices to turn into high-speed UHF RFID scanners. The addition of autopilot functionality to the RFID scanner allows the scanning to be operated with doubled speed and manage more complex data as well. Furthermore, RGID tags and Near Field Communication (NFC) technology are popular, so demand for 2D barcode scanners is expected to rise.

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Major Key Players of the Market:

DIC Corporation, Flint Group, Siegwerk Druckfarben Ag & Co. KGaA, Sakata Inx, Toyo Ink SC Holdings Co. Ltd., T & K Toka Co. Ltd., Huber Group, Tokyo Printing Ink Mfg. Co. Ltd., Fujifilm North America, Nazdar Ink Company, Daihan Ink, Bauhinia Ink, DAS Water Based Ink, Zhejiang Yongzai Chemical, Shanghai Si-Lian Industrial General Company, Hubergroup, Dolphin Inks Pvt. Ltd., Matsui Chemical (International), Altana Corporation, Ferro, Sun Chemical Group, Colorgraf SpA, BRANCHER Tremblay, Encres Dubuit, INX International France S.A.S., Brigal SA., Chimigraf Iberica S.L., SICPA Holding SA, Wikoff Color Corporation, DEERS I Co. LTD., Dow, Evonik, Doneck Network, Siegwerk, Ahbar Industries, Sun Chemical Saudi Arabia, Al Sama Ink Company, United Ink Production Co. Ltd., Rexx Screen and Digital Supplies, Magna Colours.

2D Barcode Reader Market 2024 Key Insights:

• The 2d barcode reader market size is expected to see strong growth in the next few years. It will grow to $9.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%.
• E-Commerce And Logistics Boom Fuels Growth In The 2D Barcode Reader Market
• Rising Demand For Technologically Advanced Reader Systems In The 2D Barcode Reader Market
• Asia-Pacific was the largest region in the 2D Barcode Reader market in 2023

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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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