What Is The Definition Of The Global Image Based Barcode Reader Market?
Image-based barcode readers are devices that utilize optical recognition technology to scan and decode barcodes using a camera or image sensor instead of traditional laser scanning methods. These readers capture an image of the barcode, process it using software to extract the encoded information, and then interpret it for various applications such as inventory management, logistics, and retail operations.
Image Based Barcode Reader Global Market Report 2024 provides data on the global image based barcode reader market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The image based barcode reader market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Image Based Barcode Reader Market Size Expected To Expand, And At What Annual Growth Rate?
The image-based barcode reader market has experienced consistent growth, expanding from $1.83 billion in 2023 to $1.95 billion in 2024 at a CAGR of 6.3%. Historical growth has been driven by the rise of automation and Industry 4.0, increased demand for efficient barcode solutions, and a focus on productivity enhancements. By 2028, the market is expected to grow to $2.50 billion at a CAGR of 6.4%, driven by growth in e-commerce and retail, further adoption of automation technologies, and increased demand for image-based scanning systems. Trends include AI and machine learning integration, advancements in imaging technology, and incorporation into smartphones.
What Are The Key Drivers Fueling Growth In The Image Based Barcode Reader Market?
The growth of e-commerce and retail sectors is expected to drive the image-based barcode reader market. E-commerce involves buying and selling goods over the internet, while retail includes both physical stores and online channels. The growth of e-commerce and retail is fueled by online shopping convenience, product variety, and the widespread use of mobile devices and the internet. Image-based barcode readers enhance e-commerce and retail operations by enabling accurate inventory management, faster checkouts, and efficient order fulfillment. In May 2024, the U.S. Census Bureau reported that e-commerce sales rose by 8.5% in Q1 2024 compared to the same period in 2023, with total retail sales increasing by 2.8%. Thus, the expanding e-commerce and retail sectors are expected to drive the image-based barcode reader market.
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What Are The Principal Market Segments In The Global Image Based Barcode Reader Industry?
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
Which Emerging Market Trends Are Altering The Image Based Barcode Reader Sector?
The image-based barcode reader market sees companies leveraging AI to boost scanning accuracy and functionality. AI-assisted systems utilize advanced algorithms for precise barcode decoding. For example, Cognex Corporation, a U.S. software firm, introduced the DataMan 380 series in October 2023. Equipped with a high-resolution sensor and AI-accelerated decoding, these readers optimize barcode scanning in logistics and manufacturing, increasing throughput and simplifying deployment.
What Is The Leading Region In The Image Based Barcode Reader Market?
North America was the largest region in the image based barcode reader Market in 2023. The regions covered in the image based barcode reader market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
