2D Barcode Reader Market to Witness Growth Acceleration During 2018-2023
Date: 2019-02-06   Author: Partha Ray  Category: #industry

2D Barcode Reader Market to Witness Growth Acceleration During 2018-2023

An analysis of 2D Barcode Reader market has been provided in the latest report launched by Market Study Report that primarily focuses on the market trends, demand spectrum, and future prospects of this industry over the forecast period. Furthermore, the report provides a detailed statistical overview in terms of trends outlining the geographical opportunities and contributions by prominent industry share contenders.

A 2D barcode scanner is a process of interpreting two-dimensional barcodes, which store data in two dimensions, rather than in just a series of black and white bars. 2D barcode reader is also called as ?Quick Response Code (QR Code)? as they enable fast data access. The reader deciphers the encoded URL, which leads the browser to the appropriate information. The commercial use of 2D barcode reader started in 1981. A 2D bar code reader is employed in various industries to access associated information extensively.

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One of the primary reason driving this market increased acceptance of 2D barcodes across various sectors. Another factor driving the demand 2D barcodes is their proficiency to adapt an enormous size of information, unlike 1D barcode scanner. Increased memory at optimum pricing has been a key technological factor, which is an attractive proposition for end users. A key challenge in the market is the insufficiency for capital investment to innovate 2D barcodes. 2D barcode scanners are costlier than their 1D counterparts. Performance, design, and ergonomics are among the top factors of competition among 2D-barcode vendors. Furthermore, price competitiveness offers an additional advantage to barcode scanner vendors.

DPM (Direct Part Marking) is introducing new opportunities for manufacturing more automated solutions and track products through its full life cycle. It can be a potential market for the 2D imager. Also, government regulations and policies may result in the adoption of these devices in industries including healthcare & pharmaceuticals, transportation, and military applications.

Key regions for this market are North America, Europe, Asia-Pacific and MEA and Latin America. North America and Europe are projected to dominate this market over the forecast period with steady growth rates while Asia-Pacific is expected to witness significant growth opportunities during the same period. The adoption rate of barcode technology in India is growing at a healthy growth rate making the industry more attractive day by day.

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Some of the key players in the market include Honeywell, OCR Canada, Motorola Solutions, Datalogic, Zebra Technologies, Telenor, SATO, Bluebird, Opticon, Denso ADC, NCR and others. The market is dominated by vendors and will continue the same trend over the forecast period. Continued consolidation is expected with small and medium sized companies focused on niche applications. Image recognition technology which is an alternative technology for 2D barcode reader is at its emerging stage. The main advantage of the image recognition technology as compared to 2D bar codes is that no special software has to be installed. One of the disadvantages of image recognition is that images cannot be recognized because of their image quality. Especially in low light situations images tends to get blurry and grainy. This market is expected to become highly competitive over the forecast period as the market is driven by new technologies and innovations, resulting out of continuous R&D activities by the key players across the industry. Most of the companies are focusing their R&D activities to find low cost and precise products by incorporating new technologies.

Questions answered in the report with respect to the competitive hierarchy of the 2D Barcode Reader market:

  • As per the report, what are the companies that are encompassed in the competitive landscape of the 2D Barcode Reader market?
  • Which among these companies – Honeywell, OCR Canada, Motorola Solutions, Datalogic, Zebra Technologies, Telenor, SATO, Bluebird, Opticon, Denso ADC and NCR, has been touted to emerge as the most lucrative investment hub in this market?
  • How much share do each of these firms procure in the 2D Barcode Reader market?
  • What are the principal products manufactured by these companies in the industry?
  • What are the gross margins and price trends of each firm in the market?

Questions answered in the report with respect to the regional expanse of the 2D Barcode Reader market:

  • Which among the regions of North America, Europe, Asia-Pacific, South America & Middle East and Africa is likely to accrue the maximum market share?
  • What are the sales and revenue statistics of each of the geographies in question?
  • How much is the present valuation of each region and what will the forecast revenue of each place be pegged at
  • What is the projected growth rate touted to be recorded by each of the geographies in 2D Barcode Reader market?

Questions answered in the report with respect to the market segmentation and more:

  • Which among the types of QR Codes, Data Matrix Code, PDF417codes and Aztech 2D Barcodes is slated to amass the maximum returns in the 2D Barcode Reader market?
  • What is the market share of each type in the industry?
  • What is the revenue and sales estimate of each of the product types in question by the end of the anticipated timeframe?
  • Which application among Retail, Advertisements, Transportation and Others is touted to be the most lucrative segment in the + market?
  • How much is the market share of every application segment in this business vertical?
  • How much is the revenue that each application is likely to procure by the end of the projected period?

The 2D Barcode Reader market study, in a nutshell, is comprised of an extensive analysis of this industry vertical that focuses on the regional terrain of this market and a slew of other deliverables such as insights with respect to market share, revenue projection, sales volume, market concentration rate as well as the market competition trends. Further, the report incorporates information regarding the sales channels adopted by myriad vendors in a bid to ensure the most convenient manner of product marketing. Details with regards to the contribution of traders & distributors in the supply chain are elucidated in the study as well.

For More Details On this Report: https://www.marketstudyreport.com/reports/global-2d-barcode-reader-market-2018-by-manufacturers-regions-type-and-application-forecast-to-2023

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About Author


Partha Ray

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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