Press release
Global 2D Barcode Reader Market to Reach $10.55 Billion by 2029, Growing at 8% CAGR
2D Barcode Reader Market Insights
The projected expansion of the 2D barcode reader market is largely due to the rising demand in the e-commerce and logistics sectors. The increased popularity of online shopping is recognized as a key driver for the e-commerce and logistics sectors' growth, leading to the establishment of more distribution centers and warehouses, consequently boosting the 2D barcode reader sector. For example, the United States Census Bureau, a US government agency, reported in February 2024 that e-commerce sales in the United States for 2023 were approximately $1,118.7 billion, a 7.6% increase from the previous year. Thus, the expanding e-commerce and logistics industries stimulate the growth of the 2D barcode reader market.
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What Is the projected market size and growth rate for the 2d barcode reader market?
The market size for 2D barcode readers has significantly expanded in the past few years. It's projected to increase from $7.27 billion in 2024 to $7.76 billion in 2025, with a compound annual growth rate (CAGR) of 6.7%. This surge during the historical period is due to robust economic development in upcoming markets, an expanding global population, and a rise in the use of barcode scanners in the healthcare sector.
Sturdy expansion is anticipated in the 2D barcode reader market size over the upcoming years, with projections estimating it to reach $10.55 billion in 2029, reflecting a compound annual growth rate (CAGR) of 8.0%. The surge in this period is linked to factors such as the global population increase and urbanization, robust growth in the e-commerce sector, heightened leisure spending, expanding retail and internet penetration as well as smartphone use, and a rising preference for non-contact delivery solutions. The upcoming period also expects trends like adoption of high-speed, omnidirectional readers, launch of technologically advanced barcode scanners, emphasis on cutting-edge reader systems, utilization of AI-based reader systems, and production of barcode scanners suitable for web usage.
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What new trends are reshaping the 2d barcode reader market and its opportunities?
Leading firms in the 2D barcode reader market are prioritizing the introduction of innovative products like application programming interface (API) solutions with the aim to boost integration and functionality across a variety of systems and applications. Utilizing these API solutions, companies can conveniently integrate their barcode scanning features with other software, thereby enhancing data interchange, inventory control, and overall business efficacy. For instance, Bitly, an American software-as-a-service firm, unveiled an automated 2D barcode API solution in February 2024. An automated 2D barcode API solution is a coding interface that allows developers to swiftly generate and manage 2D barcodes, such as QR codes, equipped with customization and tracking features. The characteristics of an automated 2D barcode API solution encompass automatic generation, customization potentials, data tracking, smooth melding with existing systems, backing for multiple barcode formats, an easy-to-use interface, and secure access to safeguard data.
What major market segments define the scope and growth of the 2d barcode reader market?
The 2D barcode reader market covered in this report is segmented -
1) By Reader Type: Cord, Cordless
2) By Application: Warehousing, Logistics, E-Commerce, Factory Automation, Brick and Mortar
3) By End User: Retail, Hospitality, Transportation and logistics, Manufacturing, Healthcare, Others End Users
Subsegments:
1) By Cord: USB Corded Barcode Scanners, Serial Corded Barcode Scanners, Keyboard Wedge Barcode Scanners
2) By Cordless: Bluetooth Barcode Scanners, Wi-Fi Barcode Scanners, RFID Barcode Scanners
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Which region dominates the 2d barcode reader market?
Asia-Pacific was the largest region in the 2D Barcode Reader market in 2024. The regions covered in the 2D barcode reader market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the 2d barcode reader industry growth?
Major companies operating in the 2D barcode reader market include Honeywell InternationalInc., Omron Corporation, Keyence Corporation, Cognex Corporation, Datalogic S.p.A., Zebra Technologies Corp., Zebex Industries Inc., Sick AG, Denso Wave Incorporated, Opticon Inc, General Data Co, Unitech Electronics Co. Ltd., Wasp Barcode Technologies, Tencent, Alibaba, INSPIRY, SUNLUX IOT, MINDEO, Argox, CipherLab, Casio Computer Co. Ltd., Denso Corporation, Juniper Systems Inc., Marson Technology Co. Ltd., Scandit, Sato Holdings Corporation, Jadak, Pooyeh International Networks, BlueStar
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What Is Covered In The 2D Barcode Reader Global Market Report?
•Market Size Forecast: Examine the 2d barcode reader market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the 2d barcode reader market for a structured understanding.
•Key Players Overview: Analyze major players in the 2d barcode reader market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the 2d barcode reader market.
•Segment Contributions: Evaluate how different segments drive overall growth in the 2d barcode reader market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the 2d barcode reader market.
•Industry Challenges: Identify potential risks and obstacles affecting the 2d barcode reader market.
•Competitive Landscape: Review strategic developments in the 2d barcode reader market, including expansions, agreements, and new product launches.
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