A 2D barcode reader is a device used to read information from two-dimensional barcodes. These readers are often found in retail stores and can scan the product’s code quickly and accurately. With technological advancements, 2D barcode readers have become increasingly popular as they can store more data than traditional 1D scanners.
2D codes use a variety of formats, including QR codes, Data Matrix, Aztec Code, and PDF417, which contain embedded information that can be easily accessed with the help of a reader. This barcode technology is used across retail, healthcare, logistics, and transportation industries for inventory tracking and asset management applications. The data stored in these codes can include price tags, item numbers, URLs for digital coupons, or other promotions.
2D Barcode Reader Insights accounted for USD 6.92 billion in 2021 and is expected to reach USD 10.74 billion by 2028 growing at a CAGR of 6.7% during the forecast period 2021 To 2028
Driving Factors
E-Commerce is experiencing a rising demand: Digital shopping has gained popularity worldwide due to the increasing availability of the internet. The introduction of wireless technology has accelerated the shift to digital shopping. Barcode scanners can also be integrated with wireless networks, reducing long wait times in retail stores. Combining barcode scanners and automated billing systems makes shopping easier, quicker, and more efficient and increases customer satisfaction. These are the factors that are encouraging businesses to choose this option, which is driving the market’s growth.
Read More: Where is the 2D Barcode Reader Market Headed?
Restraining Factors
High cost of raw material: The 2D barcode reader’s higher price is a major factor that could hinder the global market’s growth. Due to the new technology, 2D barcode scanners are more expensive than 1D. These barcodes require specialized hardware and software scanners, which can prove costly. 2D barcodes are more complicated than linear barcodes, so the algorithm must be complex.
The 2D barcode reader market includes key players such as Honeywell, OCR Canada, Motorola Solutions, Datalogic, Zebra Technologies, Telenor, SATO, Bluebird, Opticon, Denso ADC, NCR with details like (key acquisitions & mergers, company financials, and 2D barcode reader footprint). Furthermore, The report covers 2D barcode reader drivers, restraints, opportunities, and 2D barcode reader trends.
E-commerce and logistics companies have been able to set up warehouses and distribution centers in response to the growing demand for online shopping. These companies also want to increase storage space to meet the increasing demand for online products. Businesses have increased their investment to maintain efficient operations and improve their storage facilities. Decision-makers are now prioritizing automation and worker-augmented technologies and expanding floor space. 2D barcode readers are a superior technology that can automate inventory maintenance and data collection. Decision-makers realized this and have taken an incremental approach to modernize warehouse operations.
Suggested Reading: Global Barcode Readers Market
A warehousing process generally transports stock from the supplier’s logistics or production unit to the warehouse. All incoming goods are recorded and then stored at the designated locations. These items are taken from designated storage locations to prepare for shipment and repackaging. These processes require data entry at multiple levels, including product tracking or inventory management. Distribution centers require stock control and product tracking. The 2D barcode reader system is still the most widely used technology for identifying and monitoring warehouse products.
Key developments:
Sick’s first vision camera was launched in April 2021. The camera comes with a pre-installed Deep Learning App onboard. This app allows you to create custom quality inspections for complex or irregular-shaped products, packaging, and assemblies. It is particularly useful in places where traditional systems cannot automate.
The 2D Barcode Reader Market is one of the retail industry’s most dynamic and competitive markets. With advances in technology, new capabilities are being added to barcode readers, increasing their efficiency and accuracy. As a result, it’s become a highly sought-after tool for businesses that need to stay ahead of the curve.
In conclusion, there is no doubt that the 2D Barcode Reader Market continues to expand at an impressive rate due to its ever-evolving technology. Companies can now take advantage of more advanced features such as image recognition and high-speed scanning capabilities that can help reduce costs associated with manual labor and increase efficiency levels during processes such as inventory management or coupon redemption. As more businesses move towards utilizing barcode readers, this trend will only further grow in the future.
