Handheld Barcode Scanner Market Size, Share, Growth, and Industry Growth, By Type (Laser Scanner, Linear Imager Scanner, and 2D Imager Scanner), By Application (Retail and Wholesale, Logistics and Warehousing, Industrial Manufacturing, Healthcare), Regional Forecast By 2031

Updated On: 08 April 2024

Handheld Barcode Scanner Market Report Overview

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The global handheld barcode scanner market size was USD 1364.8 million in 2021, as per our research, the market is projected to touch USD 2188.86 million by 2031, exhibiting a CAGR of 4.84% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with handheld barcode scanner experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

An electrical device known as a barcode scanner decrypts the data from the barcode or scans printed barcodes and delivers the decrypted data to a computer or other centralized network. It has a source of lens, light, and optical sensors that transform optical signals into electrical signals. The decoder circuit included in barcode scanners can evaluate the barcode image data provided by the sensor and transfer it to the scanner's output port. Along with CCD and laser scanners, 2-dimensional barcode scanners are the most widely used product in the international barcode scanner market. Retailers and manufacturers use barcode scanners to record product costs, manufacturing and delivery dates, and other information.

A handheld barcode scanner is portable and does the same work as an electrical scanner. Retailers worldwide use barcode scanners to make tracking supplies and goods easier. Data such as manufacturing date, product count, delivery date to the retailer, and product cost inscribed in the form of a barcode on the product's packaging are processed using barcode scanners. These elements contribute to the expansion of the global handheld barcode scanner market growth.

COVID-19 Impact: Disruption in Supply Chain Hampered Growth of the Market

Three main implications of COVID-19 on the world economy are their direct effects on supply and demand, supply chain disruption, and market disruption, as well as their economic effects on companies and financial markets. The COVID-19 outbreak has resulted in a variety of negative effects, including flight cancellations, travel bans, quarantines, restaurant chain closures, and restrictions on all indoor events where a state of emergency has been declared. These effects have significantly reduced the volatility of the barcode scanner market's growth, increased public panic, and created uncertainty about the future.

LATEST TRENDS

"Steady Adoption of Barcode Technology in Various Sectors to Prosper Market Growth "

In the healthcare sector, barcode scanners are frequently used to provide real-time data about workers, assets, and medicinal supplies. As a result, the expansion of the healthcare industry is anticipated to fuel demand for barcode scanners globally. Aside from that, because they can be swiftly scanned with smartphones and tablets, rapid response (QR) codes are becoming more and more commonplace globally. Due to the advent of digital technologies for scanning and analyzing data inventories, particularly in the retail and warehousing industries, the barcode scanner market is anticipated to grow rapidly. Some of the elements that contribute to the barcode scanner's popularity in these industries are its cutting-edge features and technical advantages.

Handheld Barcode Scanner Market Segmentation

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• By Type Analysis

By type, the market is segmented into laser scanners, linear imager scanners, and 2D imager scanners.

• By Application Analysis

Based on application, the market is classified into retail and wholesale, logistics and warehousing, industrial manufacturing, and healthcare.

DRIVING FACTORS

"Accelerating Preference for Manufacturing and Retail Sectors to Expand Product Demand"

The industry and retail sectors are progressively adopting barcode scanners. It has emerged as one of the top methods for gathering product data. Labels with barcodes assist in keeping track of data such as product count, manufacturing date, perishable product expiration date, selling price, the date the product was delivered to the retailer, and others. All of the products sold by large stores like Walmart, Costco, Carrefour, and IKEA have barcodes. This is then anticipated to fuel market expansion throughout the upcoming years. The rapid adoption of handheld barcode scanner in retail stores and other sectors are likely to gain market growth.

"Government’s Focus On Digitalization to Augment Market Growth"

The public distribution system has gone digital, and there are more e-retailers than ever before, giving market players plenty of room to flourish. Due to advantages including decreased downtime, tighter control over asset tracking and prevention of incorrect deliveries, and quality information, barcode scanners are widely employed in a range of industries. The greater use of barcode technology as an automatic identification system to reduce human mistakes will be a key development driver. Furthermore, over the course of the predicted year, growth is likely to be supported by rising healthcare sector demand. Healthcare facilities are using the most recent barcode technology to manage medical information and lower data inaccuracies. Barcode scanners are being employed in more and more areas of the healthcare sector.

RESTRAINING FACTORS

"Higher Capital Investment to Retard Market Expansion"

The major resistance in the handheld barcode scanner market growth is the higher initial investment. All the retailers cannot afford it owing to its high cost. This factor may display a major challenge to the market growth. 

Handheld Barcode Scanner Market Regional Insights

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"Constant Development of the Healthcare Sector to Offer Major Growth to North America"

North America is estimated to dominate the market by owning a major part of the handheld barcode scanner market share. The consistently developing healthcare sector is expected to be the major cause of regional growth. 

Asia Pacific is predicted to show significant growth by virtue of the growing number of e-retailers coupled with the strong presence of major market players. The accelerating digital technologies offer lucrative growth opportunities to the region. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Gaining Collaborations and Partnerships to Expand "

Important market developments and inorganic and organic growth strategies are included in the studies. Many businesses are focusing on organic business growth, including product launches, product approvals, and other initiatives like patents and events. The market's inorganic growth tactics included acquisitions, partnerships, and collaborations. Market participants now have more opportunities to grow their clientele and businesses thanks to the efforts above. Industry participants in the market should soon benefit from significant growth prospects due to the expanding demand for filter products on the global market.

List of Market Players Profiled

• Cognex (U.S.)
• Bluebird (U.S.)
• Datalogic (Italy)
• CipherLAB (U.S.)
• Newland (Netherlands)
• SICK (Germany)
• Code Corporation (India)
• Zebex (Taiwan)
• Argox (Taiwan)
• MINDEO (China)
• Microscan (India)
• Opticon (U.S.)
• Zebra Technologies (U.S.)
• Denso Wave (U.S.)
• Honeywell (U.S.)
• SUNLUX IOT (China)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2021 through 2031, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.