Global Wearable Scanner Market 2016-2020

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

• Americas
• APAC
• EMEA

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?

Technavio also offers customization on reports based on specific client requirement.

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