Worldwide 2D Barcode Reader Industry is Expected to Reach $10.7 Billion by 2027

The Global 2D Barcode Reader Market size is expected to reach $10.7 billion by 2027, rising at a market growth of 6.6% CAGR during the forecast period.

With the increasing penetration of the internet, digital shopping is becoming more convenient and gained popularity among consumers worldwide. The introduction of wireless technology has strengthened the shift to digital shopping.

The barcode scanners are also integrated with high-speed, wireless networks that can possibly help in reducing long waiting times in retail stores. Thus, combining bar code scanners with automated billing systems is making the shopping process transparent, faster, and efficient and at the same time, it enhances the satisfaction of the consumers. These abovementioned factors are encouraging businesses to opt 2D barcode-based systems which are driving the growth of the market.

The market for 2D barcode readers is expected to grow in the forecast period. It is due to the growing use of 2D barcodes across numerous industries, the 2D barcode can access more information like price, image, quantity, or web addresses. The 2D barcode reader is able to scan both 1D and 2D barcodes. 2D barcode readers are helping those businesses which want to make a substantial impact on their customers. Since the ability of the 2D barcode readers to scan accurately and quickly is high, it speeds up the various transaction processes like billing & other operations and thus, improves customer experiences. A 2D barcode reader has the capacity to read barcodes from both directions. It can read on-screen or printed, upside down, and even sideways.

The sudden outbreak of the COVID-19 pandemic adversely affected various industries in different ways. The sensor, control, and automation industry of several countries have been negatively affected by this pandemic across the world. The capital investments in the automation sector are lethargic during the pandemic and expected to put on hold in the coming few months and years. Though, the current halt in industrial manufacturing and production is expected to be a wake-up call for the manufacturing sector to minimize its dependency on human labor. The advantages of robotics and automation are expected to be helpful in greater adoption in the post-pandemic period. Post pandemic, the IoT, industrial automation, and digitalization will be increasingly more relevant for Tier 1 manufacturers.