The Image Based Barcode Reader Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Image Based Barcode Reader Global Market Report 2024, The image based barcode reader market size is expected to see strong growth in the next few years. It will grow to $2.50 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to increasing e-commerce and retail sectors, rising adoption of automation and Industry 4.0, increasing demand for image based barcode readers, and increasing requirements for automation. Major trends in the forecast period include AI and machine learning integration, penetration of sophisticated barcodes and QR codes, technological advancements, advancements in imaging technology, and integration into smartphone technology.
The increasing e-commerce and retail sectors are expected to propel the growth of the image based barcode reader market going forward. E-commerce refers to the buying and selling of goods and services over the internet, and retail encompasses both physical (brick-and-mortar) stores and online sales channels. The popularity of e-commerce and the retail sector is rising due to factors such as the convenience of online shopping, the wide variety of products available, and the increasing use of mobile devices and internet connectivity. Image based barcode readers enhance e-commerce and retail by enabling accurate inventory management, faster checkouts, and efficient order fulfillment through their ability to read various barcode types from any orientation. For instance, in May 2024, according to the United States Census Bureau, a US-based government agency, in the first quarter of 2024, e-commerce sales rose by 8.5 percent (±1.1%) compared to the first quarter of 2023, while total retail sales increased by 2.8 percent (±0.5%) during the same period. Therefore, the increasing e-commerce and retail sectors are driving the image based barcode reader market.
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The image based barcode reader market covered in this report is segmented –
1) By Type: Handheld Barcode Reader, Stationary Barcode Reader
2) By Technology: S Mounted Lens, C Mounted Lens, Autofocus Or Liquid Based Lens
3) By Connectivity: Universal Serial Bus (USB), Bluetooth, Wi-Fi And POE (Power Over Ethernet)
4) By Application: Retail And Wholesale, Logistics And Warehousing, Industrial Manufacturing, Healthcare
5) By End Use: Retail And Commercial, Manufacturing, Automotive, Food And Beverages, Semiconductors, General Manufacturing, Health Care, Logistics And Warehouse, Commercial Aviation, Defense
Major companies operating in the image based barcode reader market are focusing on developing technologically advanced solutions, such as artificial intelligence (AI)-assisted barcode reader systems, to enhance accuracy, speed, and functionality in barcode scanning applications. AI-assisted barcode reader systems refer to barcode scanning technologies enhanced with artificial intelligence capabilities, enabling advanced image processing algorithms to accurately and swiftly decode barcodes from various orientations and conditions. For instance, in October 2023, Cognex Corporation, a US-based system software company, launched the DataMan 380 series of fixed-mount, image-based barcode readers to maximize throughput and traceability across a variety of applications in logistics and manufacturing. The new readers are equipped with a high-resolution CMOS sensor of up to 16.13 MPixel and are designed to increase throughput by simultaneously processing 1D and 2D codes using AI-accelerated decoding. It simplifies deployments compared to using multiple conventional readers and is ideal for robotic pick-and-place, pallet scanning, and tire barcode reading, enhancing throughput in logistics and manufacturing.
The image based barcode reader market report table of contents includes:
1. Executive Summary
2. Image Based Barcode Reader Market Characteristics
3. Image Based Barcode Reader Market Trends And Strategies
4. Image Based Barcode Reader Market – Macro Economic Scenario
5. Global Image Based Barcode Reader Market Size and Growth
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32. Global Image Based Barcode Reader Market Competitive Benchmarking
33. Global Image Based Barcode Reader Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Image Based Barcode Reader Market
35. Image Based Barcode Reader Market Future Outlook and Potential Analysis
36. Appendix
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