Industrial Barcode Scanner Market size to record USD 2.07 billion growth from 2023-2027

The global industrial barcode scanner market size is estimated to grow by USD 2.07 billion from 2023 to 2027, according to Technavio. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 9.47% during the forecast period.

Use of wearables with the same functionalities as traditional barcode scanners: A notable trend anticipated in the upcoming period is the rising acceptance of wearable devices serving the functions of conventional barcode scanners. Manufacturers are increasingly rolling out sophisticated devices to minimize human errors and bolster efficiency.

Notably, smart glasses are finding utility in industrial settings. Enterprises like DHL have embraced smart glasses, setting a new logistics standard. Smart glasses now boast additional features like barcode and QR code scanning. Vuzix M100 and M300 smart glasses can perform such scanning tasks, though camera-to-barcode distance presents a hurdle.

Despite this challenge, advancements in barcode formats like linear and laser are likely to see smart glasses supplant traditional wearable scanners in the foreseeable future. These developments are set to fuel growth in the global industrial barcode scanner market.
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The industrial barcode scanner market is growing steadily, driven by rising sales and decreasing costs per customer. However, the high price of barcode scanners poses a challenge to widespread adoption across industries. It will take time for these devices to become more affordable and gain traction across various sectors.

General-purpose barcode scanners, like the Honeywell Voyager XP 1470g, are notably cheaper, priced around $200, compared to industrial barcode scanners, which can cost over $600. This price disparity limits the adoption of industrial scanners among businesses.
Furthermore, the emergence of industrial wearables presents another hurdle as end-users grapple with calculating the return on investment (ROI). The increased expenses associated with implementing and acquiring these technologies, coupled with the potentially high ROI of innovative products, are expected to slow the growth of wearable scanners in the industrial sector.