Barcode Scanner Market will Reach at a CAGR of 7.6% from 2017 to 2027

The global barcode scanners market will expand at a CAGR of 7.6% over the forecast period (2017–2027) and account for US$ 10.8 Bn by 2027-end, according to a new report. During the same duration, the market is also expected to reflect a CAGR of 6.4% in terms of volume, reaching 38.7 Mn units over 2027-end. Around 20.7 Mn units of barcode scanners are expected to be sold by the end of 2017.

In 2017 and beyond, laser-based scanner is expected to remain as the prime technology. Laser scanners are widely used in regions with established manufacturing and retail sectors such as Western Europe and North America. By the 2017-end, laser scanners are estimated to accounts for 32.3% revenue share of the market and will continue to be the most preferred barcode reader technology throughout the assessment period.

Owing to characteristics such as faster print speed and versatility, demand for portable/handheld barcode scanners is rapidly increasing in various parts of the world. Use of barcode scanners in the retail and commercial sector continues to be the highest and is expected account for a major chunk of revenue over the forecast period. Meanwhile, the healthcare industry is swiftly adopting the barcode technology as well.

Amongst regions, markets in Asia Pacific excluding Japan (APEJ) and North America are expected to exhibit high growth potentials. In APEJ, China and India are projected to achieve impressive growth of their barcode scanner market. By 2017-end, the region is projected to account for a revenue share of 29.5%, which is expected to increase to 33.8% towards the end of the forecast period.