The industrial barcode scanner market is poised for impressive growth, with a projected Compound Annual Growth Rate (CAGR) of 8.3%. By the year 2032, this market is anticipated to reach a substantial value of US$ 7,678.0 million.
The industry responsible for producing barcode scanners used in industrial settings is expected to see significant expansion over the next decade. The market is set to grow steadily at an annual rate of 8.3%, culminating in a total value of US$ 7.68 billion by 2032. This growth reflects the increasing demand for barcode scanning technology in various industrial applications.
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In 2022, the market for industrial barcode scanners is projected to be worth US$3,451.0 Million. The overall demand for industrial barcode scanners is anticipated to increase at a CAGR of 8.3 percent between 2022 and 2032, reaching a total of roughly US$ 7,678.0 Million by 2032 due to rising automation in retail outlets and the manufacturing sector, as well as industry takeover by digitization and the undeniable rise of e-commerce.
Moreover, the emergence of e-commerce and intra-regional markets is playing an important role in fueling the growth of the Industrial Barcode Scanners market. The cutting-edge features of Industrial barcode scanners such as Superior read range, durability, full range area imaging performance, and fast time to read are supporting the rapid adoption of Industrial barcode scanners in manufacturing and warehousing industries.
Barcode Scanners that use high-resolution industrial cameras to capture multiple barcodes simultaneously are called Industrial barcode scanners. Today, Industrial barcode scanners have become one of the best solutions for recording and managing product information without making any major manual effort.
Rising demand for durable high-volume barcode scanning across various industries including manufacturing, retail, and logistics contributes to the growth of the industrial barcode market.
Industrial Barcode Scanners: Drivers and Challenges:
Drivers
Increasing interest in the digitalization of business operations across various industries is the primary factor driving the growth of the Industrial barcode scanners market.
An increasing number of multinational logistics service providers in the market is fueling the growth of the Industrial barcode scanners market.
Owing to high durability, in the industrial sector, 2D barcodes such as Data matrices, QR code and others are being used exponentially and ultimately the preference towards 2D barcodes is increasing the demand for 2D industrial barcode scanners.
Apart from this, the availability of innovative and customized products such as mobile computing devices is playing an important role which is supporting the growth of the Industrial barcode scanners market.
Challenges
The high cost of Industrial barcode scanners is one of the major factors that may hinder the growth of the Industrial barcode scanners market.
Moreover, the incompatibility with existing business systems and software is also a factor that may slow down the adoption of Industrial barcode scanners.
Major Key Players in the Industrial Barcode Scanners Market:
In the competitive landscape of the Industrial Barcode Scanners Market, key players such as DENSO, JC Square Inc., Toshiba TEC Corporation, Wasp Barcode Technologies, Scandit AG, SATO Holdings Corporation, Cognex Corporation, DataLogics S.P.A, Honeywell International Inc., and Zebra Technologies Corporation stand at the forefront. With a diverse range of offerings and innovative solutions, these companies drive advancements in barcode scanning technology, catering to the evolving needs of industries worldwide.
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