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The industrial barcode scanner market is estimated to grow at a CAGR of 9.47% between 2022 and 2027. The size of the market is forecast to increase by USD 2,076.98 million. The growth of the market depends on several factors, including the evolution of Industry 4.0, the rise in the adoption of wearable barcode scanners in the manufacturing industry, and the increased deployment of the mobile workforce.
This report extensively covers market segmentation by application (manufacturing, transportation and logistics, retail, food and beverages, and others), product (mobile computers, handheld scanners, and ring scanners), and geography (North America, APAC, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The evolution of industry 4.0 in the manufacturing industry is notably driving the market growth, although factors such as the high cost of industrial barcode scanners may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The evolution of industry 4.0 is one of the factors driving the industrial barcode scanner market growth. Barcode scanners are primarily used to improve the productivity and efficiency of workers within the ecosystem. Industry 4.0 is the fourth industrial revolution in the manufacturing industry. The connected ecosystem using the IoT will be instrumental in helping manufacturers and consumers provide improved communication and monitoring systems and increased automation, along with self-diagnosis and new levels of analysis, for a productive future.
Furthermore, Industry 4.0 is the current transformation of industries characterized by data exchange, automation, cloud, cyber-physical systems, robots, big data, artificial intelligence (AI), and (semi-)autonomous technologies. Therefore, the barcode scanner market is expected to see accelerating demand due to the emergence of Industry 4.0 during the forecast period.
The use of wearables with the same functionalities as traditional barcode scanners is one of the key industrial barcode scanner market trends fueling the market growth. Manufacturers are increasingly deploying advanced devices to reduce human error and increase efficiency. For example, data glasses have additional features such as the barcode and QR code scanning functionality. The Vuzix M100 smart glasses can scan QR codes and barcodes. However, the distance between the camera and the barcode poses a challenge.
Hence, with camera-based scanning devices, such as smart glasses, it becomes a challenge to ensure that the barcodes are in the line of sight of the device so that they can be decoded by the onboard computer vision algorithm. With improvements in barcode formats such as linear and laser, smart glasses could replace traditional wearable scanners in the next few years. Such factors will increase the market growth during the forecast period.
The high cost of industrial barcode scanners is one of the factors hampering the industrial barcode scanner market growth. The market for industrial barcode scanners is in a growth stage, characterized by increasing sales and decreasing the cost per customer. However, due to the high cost of barcode scanners, they are not widely adopted in all industries. It will be some time before these devices reach consumer-friendly prices and become widely used across the industry. General-purpose barcode scanners usually cost less than industrial barcode scanners. For instance, Honeywell Voyager XP 1470g offered by Honeywell costs approximately $200 compared with an industrial barcode scanner that costs over $600.
Moreover, the high cost of industrial barcode scanners hinders their adoption among industries. In addition, with the adoption of industrial wearables, end-users will be faced with the challenge of quantifying the return on investment (ROI). The increased cost of implementation and procurement and the high ROI associated with smart, innovative products are expected to hinder the growth of industrial wearable scanners during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Industrial Barcode Scanner Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advantech Co. Ltd.: The company offers general duty bar code scanner which is designed to read high-density 1D barcodes and thus used for applications related to retail, pharmaceutical and post office.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the manufacturing segment will be significant during the forecast period. Barcode scanners are used to track quality control information. By scanning the barcodes of defective products, manufacturers can identify problems early and take corrective action. Barcode scanning is therefore an important tool for improving operations in any manufacturing industry.
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The manufacturing segment was valued at USD 866.18 million in 2017 and continued to grow by 2021. In the manufacturing sector, barcode scanners play an important role in the production process. By scanning barcodes on raw materials and finished goods, manufacturers can track inventory levels, component locations, and production progress. Barcode scanners also help ensure that the correct components are used at every stage of the manufacturing process. This increases efficiency and reduces waste. Such factors will increase segment growth during the forecast period.
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North America is estimated to contribute 27% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. North America has several manufacturing companies such as General Motors and Ford Motor Company. The region is expected to see increased adoption of industrial barcode scanners in operational activities. Significant investment in the automation of operational processes through digitized process integration will have a positive impact on the demand for industrial barcode scanners in the region. Moreover, the introduction of barcode scanners in the warehousing, hospitality, and entertainment industries is contributing to the growth of the industrial barcode scanner market in North America.
In 2020, the outbreak of COVID-19 adversely affected the economies of various countries in North America. However, with the availability of vaccines for COVID-19 in December 2020, the manufacturing industry has been on the path to recovery, with the focus shifting to incorporating automation and IoT into industrial operations. The reopening of retail stores, warehouses, and manufacturing facilities across the region after the lifting of lockdown restrictions has led to an increase in demand for barcode scanners from various end-users. Therefore, such factors are expected to drive the growth of the regional market in focus during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global industrial barcode scanner market as a part of the global technology hardware, storage, and peripherals market within the overall global information technology market. The parent global technology hardware, storage, and peripherals market covers manufacturers of smartphones, personal computers, servers, electronic computer components, and peripherals. It also includes data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Industrial Barcode Scanner Market Scope |
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Report Coverage |
Details |
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Page number |
177 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.47% |
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Market growth 2023-2027 |
USD 2,076.98 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
8.87 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 27% |
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Key countries |
US, Canada, China, Japan, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
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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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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