Barcode Scanners Market Size, Share, Forecast, & Trends by Offering (Product (Pen Type Readers, Laser Barcode, Others), Consumables, Software), Type (Handheld, Fixed Mount, Others), End-use Industry (Retail & Ecommerce, Manufacturing, Others), and Geography—Global Forecast to 2031

The Barcode Scanners Market was valued at $2.6 billon in 2023. This market is expected to reach $4.4 billion by 2031 from an estimated $2.7 billion in 2024, at a CAGR of 7.2% during the forecast period 2024-2031.

Barcode Scanners Market Size & Forecast

The growth in this market is driven by government initiatives promoting the adoption of biometric technologies, strong demand for barcode scanners in the healthcare sector to improve patient safety and operational efficiency, and the increased use of barcode scanners for inventory management. However, the lack of awareness in developing countries and high initial costs are expected to restrain the growth of this market. Continued advancements in imaging technology and increasing demand for automatic identification and data capture (AIDC) technology are expected to generate growth opportunities. However, challenges such as integration with existing systems and safety and security concerns remain significant for companies operating in this market.

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Barcode Scanners Market Growth Drivers

High Demand for Barcode Scanners in the Healthcare Sector

The demand for barcode scanners in the healthcare sector has grown significantly due to their crucial role in enhancing patient safety, operational efficiency, and inventory management. Barcode scanners facilitate accurate medication administration by ensuring that the right drugs are delivered to the correct patients, effectively minimizing the risk of medication errors.

Effective inventory management is critical in healthcare, as the availability of medical supplies directly influences patient care. Barcode systems enable healthcare facilities to monitor inventory levels in real time, streamlining the tracking of medical supplies and equipment. This capability helps maintain optimal stock levels and reduce waste.

Additionally, many hospitals implement barcode technology to manage patient records. By issuing barcode identification wristbands to patients, healthcare providers can access vital information with a single scan. This system allows doctors and nurses to update records in real-time during treatment, which is especially valuable in emergencies where immediate care is required.

The healthcare industry is changing every day, from new medications and treatments to new legislation. As healthcare continues to evolve, the significance of barcode technology will only increase, enabling providers to deliver high-quality and safe patient care. Consequently, the rising demand for barcode scanners in the healthcare sector, aimed at enhancing patient safety and operational efficiency, is anticipated to drive market growth.

Growing Adoption of Barcode Scanners for Inventory Management

Barcode scanners are essential for effective inventory management, significantly enhancing accuracy and efficiency throughout the process. By enabling real-time data capture, these devices minimize human errors linked to manual data entry, ensuring that inventory records are precise and current. During the receiving process, barcode scanners verify incoming shipments against purchase orders, streamlining check-in operations. They also facilitate rapid cycle counts and audits, enabling businesses to maintain optimal stock levels with ease. In order fulfillment, scanners ensure that the correct items are selected and shipped, further boosting customer satisfaction.

The increasing adoption of barcode scanners for inventory management has revolutionized how businesses track and manage their stock. As companies strive for greater efficiency and accuracy in their operations, barcode scanners provide a practical solution by facilitating real-time data capture and minimizing the risk of human error. Overall, barcode scanners are vital tools for effective inventory management, enhancing operational efficiency, and supporting informed decision-making.

Many companies across diverse industries are implementing barcode scanners for inventory management to boost efficiency and accuracy. For example, in March 2023, PepsiCo announced the deployment of advanced machine vision technology from KoiReader Technologies to enhance its distribution process. KoiReader's technology is utilized to train and operate the deep learning algorithms that power PepsiCo’s AI-driven label and barcode scanning system. As a result, the increased adoption of barcode scanners for inventory management is expected to drive market growth.

Barcode Scanners Market Growth Opportunity

Increasing Demand for Automatic Identification and Data Capture (AIDC) Technology

The growing demand for efficient data capture and identification solutions is transforming organizational operations in today’s data-driven landscape. As businesses pursue greater agility and responsiveness, the ability to swiftly gather and analyze data has become crucial. This trend is driven by the rise of e-commerce, automation, and artificial intelligence, all of which require accurate and real-time insights to support informed decision-making.

Automatic Identification and Data Capture (AIDC) technology enables companies to quickly track, record, communicate, and store data with minimal or no input required from individuals involved in data capture or retrieval. Barcode scanners are integral to this process, offering a fast and accurate method for tracking products and information across various industries. These devices convert barcode data into digital information, allowing businesses to efficiently manage inventory, streamline checkout processes, and enhance overall operational efficiency. As the demand for effective data management continues to grow, the integration of barcode scanning solutions is becoming increasingly vital for businesses aiming to optimize their operations. Consequently, the rising demand for AIDC solutions is expected to create significant opportunities for market growth.

Barcode Scanners Market Analysis: Key Findings

The Product Segment Dominate the Barcode Scanners Market in 2024

Based on offering, the barcode scanners market is broadly segmented into products, consumables, and software. In 2024, the product segment is expected to account for the largest share of 72% of the barcode scanners market. The large market share of this segment is primarily driven by the widespread adoption of barcode scanners by various end users seeking to enhance operational efficiency and data accuracy across a diverse range of applications.

However, the software segment is slated to register the highest CAGR during the forecast period. This segment's growth is attributed to the increasing demand for barcode scanner software that facilitates the interpretation and management of data captured by barcode scanners.

The Handheld Segment Dominate the Barcode Scanners Market in 2024

Based on type, the barcode scanners market is segmented into handheld scanners, fixed mount scanners, hands-free scanners, companion/wearable scanners, and other types. In 2024, the handheld scanners segment is expected to account for the largest share of 40% of the barcode scanners market. The significant market share of this segment is primarily driven by the rising adoption of handheld barcode scanners across various industries, including retail, manufacturing, healthcare, and transportation and logistics, alongside the growing demand for high-performance, error-free data capture solutions.

 Moreover, the handheld segment is slated to register the highest CAGR during the forecast period. This segment's growth is attributed to key market players' rising focus on launching innovative handheld barcode scanners for various applications and the rising popularity of handheld barcode scanners due to their space-carrying capacity and portability.

The Retail & Ecommerce Segment Dominate the Barcode Scanners Market in 2024

Based on end-use industry, the barcode scanners market is broadly segmented into retail & ecommerce, media & entertainment, BFSI, healthcare, manufacturing, education, transportation & logistics, government, IT & telecom, military/law enforcement, and other end-use industries. In 2024, the retail & ecommerce segment is expected to account for the largest share of 22% of the barcode scanners market. The substantial market share of this segment is primarily driven by the increased adoption of barcode scanners in retail and e-commerce for real-time stock level tracking, expediting checkout processes through item scanning, improving operational efficiency, reducing errors, and enhancing customer satisfaction.

However, the manufacturing segment is slated to register the highest CAGR during the forecast period. This segment's growth is attributed to the rising demand for barcode scanners in the manufacturing industry, which enhance efficiency, accuracy, data-driven decision-making, quality control, and traceability throughout various processes.

Geographical Analysis

Based on geography, the barcode scanners market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Asia-Pacific is expected to account for the largest share of over 41% of the barcode scanners market, followed by Asia-Pacific, Europe, Latin America, and the Middle East & Africa. Asia-Pacific's significant market share is attributed to the rising demand for automation across various industries in the region, the emergence of Industry 4.0, the expansion of the retail and e-commerce sectors, and growing concerns regarding operational efficiency and data accuracy across multiple sectors.

Moreover, Asia-Pacific is slated to register the highest CAGR of 9.1% during the forecast period. The increasing government initiatives and investments in industrial automation, along with the rising demand for barcode scanners in the healthcare industry for patient management, medication tracking, and asset management, are contributing to significant growth in the barcode scanners market. Moreover, the need to optimize business processes, reduce costs, and allocate resources more effectively further supports this rapid growth.

Barcode Scanners Market: Key Companies

The report offers a competitive analysis based on an extensive assessment of the leading players’ product portfolios, geographic presence, and key growth strategies adopted in the last three to four years. Some of the key players operating in the barcode scanners market are Datalogic S.P.A (Italy), Scandit AG (Switzerland), Juniper Systems, Inc. (U.S.), Bluebird Inc. (South Korea), DENSO Corporation (Japan), Newland AIDC (China), Opticon (U.S.), SICK AG (Germany), Zebra Technologies Corporation (U.S.), OCOM Technologies (China), Cognex Corporation (U.S.), Honeywell International Inc. (U.S.), Code Corporation (U.S.), a Subsidiary of Brady Corporation (U.S.), and CipherLab Co., Ltd (Taiwan).

Barcode Scanners Industry Overview: Latest Developments from Key Industry Players

• In November 2023, Omron Corporation (Japan) launched the V460 handheld barcode reader with intelligent lighting for reading difficult direct part marks and labels. The new Omron handheld barcode reader provides an intelligent out-of-box reading experience to decode direct part marks and labels of a variety of sizes and distances while seamlessly communicating to the most common plc platforms.
• In April 2021, Code Corporation (U.S.) launched the CR5200 barcode scanner for point-of-sale and ID scanning. The new CR5200 barcode reader from Code Corporation adds significant upgrades and advancements, including improved reading on mobile phone screens and reading bar codes in motion.

Barcode Scanners Market Research Summary

Key questions answered in the barcode scanners market report: