Industrial Barcode Scanner Market to Grow by USD 2.61 Billion from 2024-2028, Driven by Industry 4.0, Report Highlights AI's Role in Reshaping the Market - Technavio

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Report with market evolution powered by AI- The global industrial barcode scanner market  size is estimated to grow by USD 2.61 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.68%  during the forecast period.  Evolution of industry 4.0 is driving market growth, with a trend towards use of wearables with the same functionalities as traditional barcode scanners. However, high purchasing cost of industrial barcode scanners  poses a challenge. Key market players include Advantech Co. Ltd., Bluebird Inc., CipherLab Co. Ltd., Cognex Corp., Datalogic SpA, DENSO Corp., EUROTECH Spa, Generalscan, Honeywell International Inc., Mexxen Technology Inc., Newland Digital Technology Co. Ltd., OMRON Corp., Opticon Sensors Europe BV, Portable Technology Solutions LLC, RIOTEC Co. Ltd., SATO Holdings Corp., Unipro Tech Solutions Pvt. Ltd., Unitech Computer Co. Ltd., ZEBEX INDUSTRIES INC., and Zebra Technologies Corp..

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Key Market Trends Fueling Growth

The industrial barcode scanner market is expected to witness significant growth during the forecast period due to the increasing adoption of advanced wearable devices. Traditional barcode scanners are being replaced with smart glasses, which offer additional functionalities like barcode and QR code scanning. DHL is one of the companies that have already adopted smart glasses in their logistics operations. However, ensuring the barcodes are within the line of sight of the device for decoding remains a challenge. Improvements in barcode formats, such as linear and laser, are expected to address this issue, leading to the widespread adoption of smart glasses in place of traditional wearable scanners. This trend will positively impact the growth of the global industrial barcode scanner market. 

The Industrial Barcode Scanner market is witnessing significant growth due to automation trends in various industries. Retail outlets, e-commerce, courier services, and e-retailers are increasingly adopting barcode scanning technology for digitization and data exchange. Industrial cameras and cyber-physical systems are integrating barcode scanning equipment into robots and AI for real-time insight in logistics industry. 2D scanners, data matrices, and QR codes are popular for identifying and tracking goods, parts, and assets in industrial settings. Design and high-performance capabilities are essential for barcode scanners in demanding locations like production floors and warehouses. Laser and image scanners, RFID systems, portable, and fixed-mount handheld scanners cater to diverse industrial needs. The market is expected to grow further with the integration of cloud technology and semi-autonomous techniques. 

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Market Challenges

• The industrial barcode scanner market is experiencing growth, marked by rising sales and decreasing customer costs. However, the high cost of industrial barcode scanners is a significant barrier to their widespread adoption across industries. For instance, an industrial barcode scanner can cost over USD600, while a general-purpose one is typically priced at around USD200. This price difference poses a challenge for businesses looking to implement industrial barcode scanning systems. Additionally, the adoption of industrial wearables brings about the challenge of justifying the investment's return. The high cost of implementation and procurement, combined with the high ROI potential of innovative, smart products, may hinder the growth of industrial wearable scanners in the forecast period.
• The Barcode Scanner Market is experiencing significant growth in various sectors like Retail and Commercial, Logistics and Warehousing, Commercial Aviation, Defense, and Public Distribution System. Challenges in this market include wireless connectivity, image recognition, and asset tracking. Hybrid scanners that offer both barcode and image recognition capabilities are gaining popularity. The Retail sector and Warehousing sector are major consumers of Barcode Readers for benefits like inventory control, account keeping, and tracking and supply. Merchants in the Retail sector are adopting Handheld Barcode Scanners for quick scanning, while Warehousing sector prefers Stationary Barcode Scanners for bulk scanning. Wired Barcode Scanners are cost-effective, but Wireless Barcode Scanners offer technological advantages like mobility and flexibility. Rugged Barcode Scanners are preferred in harsh environments, while Non-Rugged Barcode Scanners are suitable for indoor use. Camera-Based Readers, Laser Scanners, Omni-Directional, Pen Type Readers, RFID Readers, and Services are other types of Barcode Scanning solutions. The Printing of Barcodes is a crucial aspect of Barcode Technology. The Market Snapshot shows continued growth potential due to the benefits it offers. CCD-based and Pen-style Barcode Scanners use different technologies, while Laser-based and CMOS sensors offer varying levels of accuracy.

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Segment Overview 

This industrial barcode scanner market report extensively covers market segmentation by

1. Application 
• 1.1 Manufacturing
• 1.2 Transportation and logistics
• 1.3 Retail
• 1.4 Food and beverages
• 1.5 Others
2. Product 
• 2.1 Mobile computers
• 2.2 Handheld scanners
• 2.3 Ring scanners
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

1.1 Manufacturing-  In the manufacturing sector, barcode scanners serve a vital role in streamlining operations. These devices enable manufacturers to monitor inventory levels, identify component locations, and track production progress by scanning barcodes on raw materials and finished products. By ensuring accurate component usage and early identification of quality issues, barcode scanners enhance efficiency and minimize wastage. Furthermore, barcode scanning is utilized for various applications, including receiving, inventory transactions, picking stock, work in process tracking, product identification, and shipping. QR codes are also employed for marketing purposes. The significance of barcode scanning in the manufacturing industry is expected to fuel the expansion of the global industrial barcode scanner market throughout the forecast period.

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Research Analysis

The Industrial Barcode Scanner Market is experiencing significant growth due to the increasing automation in various industries, including retail outlets, courier services, e-commerce, and the warehousing sector. Barcode scanning technology, a key component of digitization, enables efficient data capture procedures in industrial settings for identification, tracking, and management of goods, parts, and assets. Design and technological advantages make industrial barcode scanners ideal for use in harsh environments. The growth potential of this market is vast, with benefits including improved accuracy, increased productivity, and enhanced supply chain tracking and management for merchants and e-retailers. Industrial barcode scanning equipment, including barcode readers and industrial cameras, are essential tools for digitalization, providing technological advantages over manual data entry methods. The printing of barcodes is also a crucial aspect of this market, ensuring seamless integration of barcode scanning into industrial processes.

Market Research Overview

The Industrial Barcode Scanner Market is experiencing significant growth due to the automation of various industries, including retail outlets, logistics, manufacturing, healthcare, and more. Barcode scanning technology is a crucial element of digitization and e-commerce, enabling real-time data exchange and tracking of goods, parts, and assets in industrial settings. Industrial barcode scanners come in various forms, such as industrial cameras, handheld scanners, and RFID systems, catering to demanding locations like production floors, warehouses, and logistics hubs. Design and high performance capabilities are essential features of industrial barcode scanners, ensuring scanning accuracy in various lighting conditions and environments. The market is witnessing technological advancements, such as 2D imaging technology, wireless connectivity, and machine learning, which offer benefits like real-time insight, inventory management, and efficiency for industrial businesses. The growth potential of the market is significant, driven by the technological advantages of barcode scanning equipment, including data collection accuracy, real-time data processing, and image recognition. Handheld barcode scanners, 2D scanners, data matrices, and QR codes are popular types of barcode scanning technology used in industrial settings. The market includes various players offering semi-autonomous techniques, such as cyber-physical systems, robots, and smart barcode scanners, to enhance productivity and reduce errors. The logistics industry, e-retailers, and courier services are significant end-users of industrial barcode scanners, while the retail sector and warehousing sector are also major contributors to the market's growth. The printing of barcodes is another essential aspect of the market, ensuring the availability of barcodes for scanning and tracking purposes. Overall, the Industrial Barcode Scanner Market is poised for growth, driven by the benefits of barcode technology, including account keeping, inventory control, and tracking and supply, in various industries.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Manufacturing
• Transportation And Logistics
• Retail
• Food And Beverages
• Others
• Product
• Mobile Computers
• Handheld Scanners
• Ring Scanners
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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