Global Barcode Scanner Market Report 2023: Sector is Expected to Reach $11 Billion by 2027 at a CAGR of 7.25%

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May 03, 2023, 10:45 ET

DUBLIN, May 3, 2023 /PRNewswire/ -- The "Global Barcode Scanner Market Size, Trends & Growth Opportunity, By Product, By Scanner Type, By Technology, By Region and Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The global barcode scanner market was valued at USD 6.94 billion in 2021 and is slated to reach at USD 11.07 billion by 2027 at a CAGR of 7.25% from 2022-2027.

Companies Mentioned

Bluebird Corporation
Cognex Corporation
Datalogics S.p.A. (Hydra S.p.A)
DENSO Corporation
Honeywell International Inc.
JC Square Inc.
SATO Holdings Corporation
Scandit AG
Toshiba TEC Corporation
Zebra Technologies Corporation

Barcode scanner is also referred as barcode reader that captures and red information from barcode and transfers it to the connected computer. It automates the data collection process and reduces errors and expedites tasks like tracking inventory, monitoring point-of-sale transactions, and managing assets.

Market Drivers

Increase in requirement of industries for remote solutions is the key driving factor which is expected to boost the global barcode scanner market growth. Furthermore, continuous technological advancements in public distribution system will positively contribute the market growth.

Moreover, in next few years most of the shops will be able to keep track of inventory without errors due to the effectiveness and the efficiency of operations offered by barcode scanners. A Barcode scanner reduces the time and gives a significant growth to the barcode scanner market. In addition to that, rise in number of supermarkets, molls, in various countries is also responsible for the market growth during this forecast period.

Market Restraints

However, some restraints which are expected to be faced by the barcode scanner market include the high cost of barcode scanner, and inconvenience in moving the barcode scanner from one place to another. Also, lack of awareness towards the barcode scanner machine by some of the shopkeepers will affect the market growth.

Impact of Covid-19

Three main implications of COVID-19 on the world economy are their direct effects on supply and demand, supply chain disruption, and market disruption, as well as their financial effects on companies and financial markets.

The COVID-19 outbreak has resulted in a variety of negative effects, including flight cancellations, travel bans, quarantines, restaurant chain closures, and restrictions on all indoor events where a state of emergency has been declared. These effects have significantly reduced the volatility of the barcode scanner market's growth, increased public panic, and created uncertainty about the future.

Market Taxonomy

By Product

Handheld Barcode Scanner
Stationary Barcode Scanner

By Scanner Type

Rugged Barcode Scanner
Non-Rugged Barcode

By Technology

Camera Based Reader
Charge Coupled Device Reader
Laser Scanner
Omni Directional Barcode Scanner
Pen Type Reader
RFID reader
Smart Phone Based Scanner
Others

By End User

Retail & Commercial
General Manufacturing
Healthcare
Logistics & Warehousing
Defense
Others

Key Questions Addressed by the Report

What are the Key Opportunities in Global Barcode Scanner Market?
What will be the growth rate from 2022 to 2027?
Which segment/region will have highest growth?
What are the factors that will impact/drive the Market?
What is the competitive Landscape in the Industry?
What is the role of key players in the value chain?
What are the strategies adopted by key players?

For more information about this report visit https://www.researchandmarkets.com/r/r7a0sr

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SOURCE Research and Markets