The image-based barcode reader market is experiencing significant growth, increasing from $1.83 billion in 2023 to $1.95 billion in 2024, with a CAGR of 6.3%. This growth is largely due to the rising demand for efficient scanning solutions and the expanding e-commerce sector. The market is expected to reach $2.50 billion by 2028, with a CAGR of 6.4%. Major trends include advancements in imaging technology and the integration of AI solutions for enhanced performance.
Major Driver In The Image Based Barcode Reader Market
The image-based barcode reader market is expected to thrive due to the growth of e-commerce and retail sectors. E-commerce and retail are benefiting from increased convenience and mobile device usage. Image-based barcode readers facilitate efficient inventory management and faster checkouts. The United States Census Bureau reported an 8.5% increase in e-commerce sales in Q1 2024 compared to the same period in 2023, alongside a 2.8% rise in total retail sales. This expansion in e-commerce and retail is driving the growth of the image-based barcode reader market.
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Image Based Barcode Reader Market Competitive Landscape
DENSO Corporation, Honeywell International Inc., Omron Corporation, Zebra Technologies, SICK Vertriebs-GmbH, Cognex Corporation, Datalogic S.p.A., Scandit AG, Blue Bird Corporation, CipherLab Co. Ltd., Code Corporation, Newland Auto-ID Tech Co. Ltd., Jadak a Novanta Company, Argox Information Co. Ltd., RTscan Technology Limited, Socket Mobile Inc., SATO Holdings Corporation, Microscan Systems Inc., Marson Technology Co. Ltd., Opticon Sensors Europe B.V., Axicon Auto ID Ltd., Keyence Corporation, NCR Corporation, MindSEO Lda
Key Image Based Barcode Reader Market Trend
Companies in the image-based barcode reader market are enhancing accuracy and functionality with AI-assisted barcode scanning solutions. In October 2023, Cognex Corporation, a US system software company, launched the DataMan 380 series of image-based barcode readers. Equipped with high-resolution CMOS sensors and AI-accelerated decoding, these readers increase throughput by simultaneously processing 1D and 2D codes, making them ideal for logistics and manufacturing applications.
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Image Based Barcode Reader Market Segmentation
The image based barcode reader market covered in this report is segmented –
1) By Type: Handheld Barcode Reader, Stationary Barcode Reader
2) By Technology: S Mounted Lens, C Mounted Lens, Autofocus Or Liquid Based Lens
3) By Connectivity: Universal Serial Bus (USB), Bluetooth, Wi-Fi And POE (Power Over Ethernet)
4) By Application: Retail And Wholesale, Logistics And Warehousing, Industrial Manufacturing, Healthcare
5) By End Use: Retail And Commercial, Manufacturing, Automotive, Food And Beverages, Semiconductors, General Manufacturing, Health Care, Logistics And Warehouse, Commercial Aviation, Defense
By Geography:The regions covered in the image based barcode reader market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the image based barcode reader Market in 2023.
The Image Based Barcode Reader Global Market Report 2024 furnishes information about the global image based barcode reader market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
