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Image Based Barcode Reader Market Size Projections Indicate a CAGR of 5.66%, Envisioned to Attain a Value of USD 2971.68 Million by 2030

According to Facts & Factors, the global image based barcode reader market size is projected to reach USD 2971.68 million by 2030 from its value USD 1917.09 million in 2022, at CAGR of 5.66% during forecast period.

NEW YORK, United States, Sept. 30, 2023 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Image Based Barcode Reader Market Size, Share, Growth Analysis Report - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” in its research database.

“According to the latest research study, the global Image Based Barcode Reader Market size was valued at about USD 1917.09 million in 2022. The market is expected to grow at a CAGR of 5.66% and is anticipated to reach a value of USD 2971.68 million by 2030.”

Image Based Barcode Reader Market Overview:

An image-based barcode reader is a scanner that utilizes an imaging system to acquire images of barcode symbols and decode data encoded in the images. Contrary to conventional laser standing methods, image-based barcode readers capture images of the barcode and extract data using image processing techniques. These barcode readers employ camera-based technology with a high resolution to detect both matrix and linear barcodes.

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Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, Revenue Analysis, SWOT Analysis, Historic and Forecast Growth, Porter's 5 Forces Analysis
  • Facts and Factors research methodology

Report Scope:

Report Attribute Report Details
Market Size in 2022 USD 1917.09 Million
Market Forecast in 2030 USD 2971.68 Million
Growth Rate CAGR of 5.66%
Base Year 2022
Forecast Years 2023- 2030
Key Companies Covered Cognex Corporation, Datalogic, Zebra Technologies, Honeywell, Keyence Corporation, Omron Corporation, SICK AG, Microscan, Opticon, Toshiba Tec Corporation, Dynamsoft, Softek Software International, and Others.
Segments Covered By Sales Channels, By Connectivity, By Technology, By End-User, and Region
Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Customization Scope Avail customized purchase options to meet your exact research needs.


Key Insights from Primary Research

  • Automation and Industry 4.0 is driving the growth of the global image based barcode reader market.
  • Based on the sales channels, the offline sales channel segment is growing at a high rate and is projected to dominate the global market.
  • Based on the connectivity, the power over internet (POE) segment is blooming at a high rate and is projected to dominate the global market.
  • Based on the technology, the autofocus segment is likely to dominate the global market.
  • Based on the end-user, the retail and commercial segment is likely to dominate the global market.
  • Based on region, North America is expected to dominate the global market during the forecast period.

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Image Based Barcode Reader Market: Growth Drivers

  • Automation and Industry 4.0 is likely to propel the growth of the global market

Global demand for image-based barcode readers is being driven by the increasing adoption of Industry 4.0 and automation across various end-user industries, such as manufacturing, automation, and pharmaceuticals. These readers play a crucial role in automating processes, allowing businesses to improve data visibility, reduce errors, and increase productivity.

In addition, the expansion of e-commerce and online retail has increased the demand for image-based barcode readers. These barcode readers aid in the management of high-volume inventory in e-commerce operations, the monitoring of items, and the classification of processes.

Restraints

  • Integration of the devices is likely to restrain the growth of the global market

Image-based barcode readers sometimes pose integration problems. Integrating these devices into the existing systems and workflows is both a costly and complex task. Compatibility issues with the legacy system pose challenges and require additional investments, which is likely to restrain the growth of the global image based barcode reader market.

Image Based Barcode Reader Market: Segmentation

The global image based barcode reader market can be segmented into sales channels, connectivity technology, end-user, and others.

By sales channel, the market can be segmented into online and offline channels. The offline sales channel is the fastest-growing segment in the global image based barcode reader market because customers prefer to check the product physically.

By connectivity, the market can be segmented into POE (power over ethernet), Wi-Fi, Bluetooth, and USB. The power over internet (POE) segment accounts for the largest share of the image based barcode reader industry. It is a technology that permits both the power and data to be transferred over an ethernet cable.

By technology, the market can be segmented into autofocus, C mount lens, S-mounted lens, and others. The autofocus segment is expected to register a notable growth in the forthcoming years because of its feature to permit devices to automatically adjust the focus of the camera or the image system.

By end user, the market can be segmented into retail & commercial, manufacturing, automotive, semiconductors, general manufacturing, healthcare, defense, and others. The retail and commercial segment is likely to dominate the global image based barcode reader industry because of the growing use of image based barcode readers extensively for tracking, point of sale systems, and inventory management all across the supply chain.

Browse the full “Image Based Barcode Reader Market Size, Share, Growth Analysis Report By Sales Channels (Online And Offline Channels), By Connectivity (POE (Power Over Ethernet), Wi-Fi, Bluetooth, and USB), By Technology (Autofocus, C Mount Lens, S-Mounted Lens, And Others), By End-User (Retail & Commercial, Manufacturing, Automotive, Semiconductors, General Manufacturing, Healthcare, Defense, And Others), And By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030” Report at https://www.fnfresearch.com/image-based-barcode-reader-market

Regional Analysis:

  • North America to lead the global market during the forecast period

North America is a significant region in the global image-based barcode reader industry because of its advanced commercial and industrial sectors. The market is expected to exhibit a steady growth rate in the forthcoming years because of the increasing requirement for automation, greater accuracy in data capturing & tracking, and improved supply chain management.

Significant technological advancements, such as enhanced image processing algorithms, high-resolution cameras, and the ability to scan 2D barcodes such as Data Matrix codes and QR codes, are anticipated to spur substantial growth in the regional market in the coming years. Industry 4.0 is likely to play a significant role in the regional industry's expansion.

Asia-Pacific is also anticipated to experience tremendous development in the coming years due to the region's expanding commercial sector, increasing adoption of automation, and rapid industrialization. Numerous industries, including electronics, automobiles, retail & logistics, manufacturing, pharmaceuticals, and others, make extensive use of image-based barcode readers.

Competitive Players:

The report contains qualitative and quantitative research on the global Image Based Barcode Reader market, as well as detailed insights and development strategies employed by the leading competitors.

Some of the main players in the global Image Based Barcode Reader market include;      

  • Cognex Corporation
  • Datalogic
  • Zebra Technologies
  • Honeywell
  • Keyence Corporation
  • Omron Corporation
  • SICK AG
  • Microscan
  • Opticon
  • Toshiba Tec Corporation
  • Dynamsoft
  • Softek Software International

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The global Image Based Barcode Reader market is segmented as follows:

By Sales Channels Segment Analysis

  • Online
  • Offline Channels

By Connectivity Segment Analysis

  • POE (Power Over Ethernet)
  • Wi-Fi
  • Bluetooth
  • USB

By Technology Segment Analysis

  • Autofocus
  • C Mount Lens
  • S-Mounted Lens
  • Others

By End-User Segment Analysis

  • Retail & Commercial
  • Manufacturing
  • Automotive
  • Semiconductors
  • General Manufacturing
  • Healthcare
  • Defense
  • Others

By Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Southeast Asia
    • Rest of Southeast Asia
  • The Middle East & Africa
    • GCC
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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Key Questions Answered in This Report:

  • What is the market size and growth rate forecast for Image Based Barcode Reader industry?
  • What are the main driving factors propelling the Image Based Barcode Reader Market forward?
  • What are the leading companies in the Image Based Barcode Reader Industry?
  • What segments does the Image Based Barcode Reader Market cover?
  • How can I receive a free copy of the Image Based Barcode Reader Market sample report and company profiles?

Key Offerings:

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market

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