2D Barcode Reader Market Is Expected To Grow At An 8% Rate

According to The Business Research Company’s research report on the 2D barcode reader market, the rapid growth in the e-commerce market requires better tracking, order fulfillment, and other functionality, thus driving the demand for 2D barcode readers during the forecast period.

E-commerce channels allow customers to purchase a number of products at ease and also generate cost savings for manufacturers who use 2D barcode readers in products for labelling, tracking, and fulfillment. Digital shopping is becoming more convenient and has gained popularity among consumers worldwide.

For instance, according to a United Nations Conference on Trade and Development (UNCTAD) 2021 report, online retail sales grew markedly in several countries, with the Republic of Korea reporting the highest share at 25.9% in 2020, up from 20.8% the year before.

In countries such as India, for instance, e-commerce portals have boosted the sales of various goods by giving greater exposure to producers who were confined to one geography. Further, COVID-19-related boosts in online shopping resulted in U.S. e-commerce growth of 32% in 2020 to reach $790 billion, up from $598 billion in 2019.

The increasing e-commerce market ensures greater availability and reach of a number of products, thus driving the 2D barcode reader market during the forecast period. With reducing delivery times and leaner supply chains, the demand for last-mile delivery, where a parcel moves from a transportation hub to its final destination in e-commerce, is expected to drive the demand for 2D barcode readers.