What Is The Scope Of The Global Identification (ID) Barcode Readers In Factory Automation Market?
Identification (ID) barcode readers in factory automation refer to devices used to scan and decode barcode information within industrial settings. These readers are essential components of automated systems that rely on identifying and tracking items, parts, or products throughout the manufacturing and assembly processes.
Identification (ID) Barcode Readers In Factory Automation Global Market Report 2024 provides data on the global identification (id) barcode readers in factory automation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The identification (id) barcode readers in factory automation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Forecasted Market Size And Growth Rates For Global Identification (ID) Barcode Readers In Factory Automation ?
The market for identification barcode readers in factory automation has grown significantly, rising from $2.38 billion in 2023 to $2.56 billion in 2024 at a CAGR of 7.5%. This growth has been supported by advancements in database integration, automatic data capture, increased adoption across industries, and reduced data entry errors. The market is projected to reach $3.43 billion in 2028 at a CAGR of 7.6%, driven by image recognition applications, high-speed scanners, industry standards, and secure ID verification needs. Key trends include innovations in barcode technology, compliance assurance, and product improvements.
What Factors Are Driving Growth In The Identification (ID) Barcode Readers In Factory Automation Market?
The expanding use of image recognition applications is anticipated to fuel the demand for ID barcode readers in the factory automation sector. Image recognition involves identifying and detecting objects or features within digital images or photographs. The need for ID barcode readers arises in factory automation for improving efficiency, traceability, and reducing errors in production and inventory management. These readers utilize image recognition technology to swiftly and accurately identify information encoded in barcodes, streamlining automated data processing and retrieval. For example, a January 2022 report by Capital Economics highlighted that 2% of businesses were testing AI, and 10% planned to adopt AI technologies, equating to approximately 62,000 and 292,000 businesses, respectively. Among AI applications, data management and analysis were the most common, followed by natural language processing, machine learning, AI hardware, and computer vision/image recognition. Consequently, the increasing use of image recognition is driving the adoption of ID barcode readers in factory automation.
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What Are The Main Segments Of The Global Identification (ID) Barcode Readers In Factory Automation Market?
The identification (ID) barcode readers in factory automation market covered in this report is segmented –
1) By Technology: Quick Response (QR) Or Barcode Recognition, Object Recognition, Facial Recognition, Pattern Recognition, Optical Character Recognition
2) By Offering: Hardware, Software, Services
3) By Deployment: Cloud, On-Premise
4) By Application: Augmented Reality, Scanning And Imaging, Security And Surveillance, Marketing And Advertising, Image Search
5) By End Use: Automobile And Transportation, Banking, Financial Services, And Insurance (BFSI), Government, Healthcare, Information Technology (IT) And Telecom, Media And Entertainment, Retail And E-Commerce, Other End Uses
What Emerging Trends Are Influencing The Growth Of The Identification (ID) Barcode Readers In Factory Automation Market?
Prominent players in the ID barcode reader market within factory automation are advancing ID barcode technologies, such as compact industrial 1D code readers, to deliver reliable and high-performing solutions for manufacturing and logistics environments. These barcode readers feature advanced sensors and lighting for precise label detection even when labels are worn, discolored, or low-quality. For example, in January 2024, Datalogic S.p.A., an Italian industrial automation company, introduced the Blade Series, a line of compact industrial 1D code readers designed to enhance traceability in packaging and intralogistics.
What Is The Largest Region In The Identification (ID) Barcode Readers In Factory Automation Market?
North America was the largest region in the identification (ID) barcode readers in the factory automation market in 2023. The regions covered in the identification (ID) barcode readers in factory automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
