Barcode Software Market Size to Reach $1.37 Billion, Globally, by 2031
The barcode software market is growing considerably due to growing adoption of barcode technology by many industries like retail, healthcare, and manufacturing. Market growth is also boosted by the growth in e-commerce and the requirement of effective inventory management and supply chain visibility. Technical innovations, such as mobile scanning of barcodes and compatibility with IoT devices, are also fuelling market growth.
The barcode software market size was valued at US$ 881.03 million in 2024 and is expected to reach US$ 1,378.29 million by 2031; it is estimated to record a CAGR of 6.8% from 2024 to 2031. Factors such as the growing retail and e-commerce sector and advancements in barcode technology are driving the barcode software market. The barcode software market is anticipated to grow during the forecast period owing to the adoption of AI-powered barcode readers and a growing preference for wearable barcode readers.
The barcode software market is experiencing significant growth, driven by technological advancements and an increasing demand for automation and efficiency across various manufacturing sectors. The introduction of these advanced barcode readers signifies a growing trend toward the adoption of AI-powered solutions in the barcode software market. For instance, in January 2025, Cognex Corporation, a global leader in industrial machine vision, continued to drive innovation in this space with the launch of its latest offerings, the DataMan 290 and 390 barcode readers. These new products leverage cutting-edge AI technology to deliver unparalleled decoding accuracy and reliability, making them an essential tool for enhancing operational productivity. The introduction of these advanced readers not only addresses complex barcode scanning challenges but also unlocks numerous opportunities in the evolving barcode software market. Cognex's DataMan 290 and 390 barcode readers are a significant leap forward in industrial scanning technology. Powered by advanced AI, these readers ensure high-performance decoding across a wide range of barcode types and manufacturing environments. The integration of AI allows the devices to learn and adapt to different scanning conditions, improving accuracy and speed in real-time, even under challenging conditions such as low contrast damaged or poorly printed barcodes. This innovation provides manufacturers with a versatile solution that enhances efficiency and minimizes downtime.
The increasing digitalization trend across industries is driving the demand for barcode software solutions. Businesses are transitioning toward digital processes, and barcode software facilitates seamless integration with digital workflows, enabling quick and accurate data capture. Today, millions of businesses across North America power commerce with GS1 Barcode Standards. GS1, the not-for-profit organization behind global barcode standards, has a bold goal designed to help retailers and brands adopt the next generation of 2D barcode technology. Leading brands such as PepsiCo, Walmart, P&G, and Amazon are all behind the shift to 2D barcodes, which are backed by a global industry standard led by GS1. Solutions providers in the region are developing new solutions for enhancing retail and supply chain operations. For instance, in May 2024, Barcoding, Inc. (Barcoding), a supply chain automation and innovation company—together with Graham Partners, announced that an affiliate of Barcoding had entered into a definitive merger agreement with DecisionPoint Systems, Inc.
No comments: