Global outlook of the wearable scanner market
Market research analysts at Technavio have predicted that the global wearable scanner market will grow steadily at a CAGR of about 4% by 2020. This market research analysis identifies the increased use of 2D barcodes like QR, Data Matrix, and PDF417 in industries such as transportation and logistics, retail, and healthcare as one of the primary factors that will have a positive impact on the growth of this market. QR codes or 2D codes can hold information both vertically and horizontally, thereby making it easy for barcode readers to get encrypted information at both the angles. A QR code can carry almost ten times more information than a 1D barcode and also allows industries to include a logo or picture to identify the product in a better way. PDF417 barcodes are primarily used in the transportation and healthcare sectors, whereas data matrix barcodes are used to mark small items and are used in the retail sector. 2D barcodes are durable, versatile, and less error-prone than 1D barcodes and also allow wearable barcode scanners to access data even when 30%-35% of the data areas are damaged.
Walmart, one of the major retailers announced its plans to open several new retail outlets in Africa and another major retailer Carrefour has formed a joint venture with a brand distribution company CFAO, to expand its operations in eight countries including the Democratic Republic of the Congo, Ivory Coast, and Nigeria. Additionally, other major retailers such as Metro and Tesco have also started focusing on expanding their presence in Africa and APAC. Since the retail sector is a major end-user for inventory scanning systems, this worldwide increase in the number of retail outlets will propel the demand for the market in the next four years.
Competitive landscape and key vendors
Owing to the presence of numerous large and small scale vendors, this market appears highly fragmented. The market is facing consolidation due to the increase in competition among vendors. To gain a competitive edge and capture a significant share of the market, large global vendors have started exponentially increasing investments in their R&D divisions to expand their product portfolios. This will enable them to provide better functionality and meet consumer requirements. As a result, vendors with strong brand identity will dominate the market during the forecast period and less prominent vendors will have the need to market their products aggressively to acquire more customers.
The leading vendors in the market are -
- Generalscan
- Honeywell
- Shenzhen Unique Electronic
- Zebra
- RIOTEC
- Eurotech
Segmentation by technology and analysis of the wearable scanner market
- 2D /imager
- Linear /imager
- Laser scanner
During 2015, the 2D /imager segment accounted for more than 45% of the total market share. These /imagers were initially considered only for niche markets. They can read both 2D /images like QR codes and Data Matrix as well as 1D barcodes and soon found significance in various sectors. The use of 2D /images will continue to increase in the coming years, which in turn will augment the growth of this segment.
Geographical segmentation and analysis of the wearable scanner market
This market study estimates that the Americas will account for about 44% of the global wearable scanner market by 2020 and dominate this market throughout the forecast period. The introduction of barcode scanners in the warehousing and storage as well as hospitality and entertainment industries will fuel market growth in this region. Additionally, industries such as transportation and logistics, healthcare, and retail will also account for the demand for wearable inventory scanning systems in the coming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the wearable scanner market?
- What are the key market trends impacting the growth of the wearable scanner market?
- What are the challenges to market growth?
- Who are the key vendors in the wearable scanner market?
- What are the market opportunities and threats faced by the vendors in the wearable scanner market?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the wearable scanner market?
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Table of Contents
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Currency conversion rates
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
PART 05: Industry overview
PART 06: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 07: Technology overview
- 2D imager
- Linear imager
- Laser scanner
PART 08: Market segmentation by technology
- 2D imager
- Linear imager
- Laser scanner
- CAGR comparison
- Market attractiveness
PART 09: Geographical segmentation
- Wearable scanner market in Americas
- Wearable scanner market in EMEA
- Wearable scanner market in APAC
- CAGR comparison
- Market attractiveness
PART 10: Buying criteria
- Cost
- Design
- Durability
- Integration
- Reliability
- Battery life
PART 11: Market drivers
- Increased adoption of 2D barcodes
- Need for accuracy in data computation and storage
- Growing adoption of wearable scanners across industries
PART 12: Impact of drivers
PART 13: Market challenges
- High cost of production
- Intense vendor competition amid high raw material prices
- Increasing sales of alternatives
PART 14: Impact of drivers and challenges
PART 15: Market trends
- High demand for 2D wearable scanners
- Increase in number of retail outlets
- Growing demand for imaging scanners
PART 16: Vendor landscape
- Competitive scenario
- Key vendors
PART 17: Summary of key figures
PART 18: Appendix
PART 19: Explore Technavio
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape