Barcode Scanner Sales to Grow by 7.6% through 2031 as Demand for Accurate Tracking System Increases in Retail Sector: Future Market Insights finds in Latest Survey

According to a study by FMI, the global barcode scanner market registered a CAGR of 5% during its historical period of 2016 to 2020. Expansion of manufacturing facilities, logistics, and e-commerce sectors has presented a conducive environment for barcode scanner sales. According to a study by FMI, the global barcode scanner market registered a CAGR of 5% during its historical period of 2016 to 2020. Expansion of manufacturing facilities, logistics, and e-commerce sectors has presented a...

According to a study by FMI, the global barcode scanner market registered a CAGR of 5% during its historical period of 2016 to 2020. Expansion of manufacturing facilities, logistics, and e-commerce sectors has presented a conducive environment for barcode scanner sales.

Barcode scanning is highly sought-after across various industries as it offers a robust tracking system that prevents risk of incorrect delivery and downtime in transit. Retailers are increasingly adopting the technology for keeping a track of their inventories and products in warehouses and shops. Major retailers such as IKEA, Costco, Carrefour, and Walmart apply barcode on all their products. This is expected to create lucrative opportunities for growth of the global market.

Barcode scanners are increasingly being adopted in the healthcare industry. According to Institute of Medicine of the National Academies (IMNA), most of the medical errors in hospital occur due to improper medication during a patient's stay. To avoid these errors, hospitals prefer computer prescribed database to update patient's information. The implementation of barcode scanners rectifies every possible error and track exact details of a patient to minimize drug related mistakes.

The Middle East and Africa is expected to emerge as a fast growing regional market over the forecast period as it is experiencing rapid changes in customer preference for less time intensive and more convenient retail experience. The advent of digitalization in the retail industry is further boosting sales in this region.

 "Key players are focusing on introducing cutting-edge features to keep pace with the evolving retail industry and changing consumer preferences. As competition continuous to soar, product diversification has emerged as key strategies among companies aiming at competitive advantage," says the FMI analyst.

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Key Takeaways

Key Drivers

Key Restrains

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Competitive Landscape

Key players operating in the global barcode scanner market are focusing on improving their market presence by pursuing numerous strategies such as new product launches, mergers & acquisitions, partnerships, joint ventures, product development, and strategic collaborations.

In November 2020, Datalogic S.p.A. launched its new Gryphon 4200 linear imager series. This novel product is ideal for numerous healthcare applications such as manufacturing work-in-progress applications, order processing, entertainment access control, ticketing, and retail POS checkout.

The key players operating in the global barcode scanner profiled by FMI are

More Insights on the Barcode Scanner Market:

FMI provides an unbiased analysis of the barcode scanner market, presenting historical demand data (2016-2020) and forecast statistics for the forecast period from 2021-2031. The study divulges compelling insights on the global barcode scanner market with a detailed segmentation on the basis of

Product Type

End Use

Technology

Region

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