Barcodes are machine-readable data codes which are used to store information about the carried product and that information is retrieved by specially-designed scanners. Barcodes can be created using different techniques and are categorized as a linear and 2D matrix. Growing need for accuracy in big data capture and storage is the key driver of barcode equipment market to eliminate the risk of human error.
Expanding organized retail industry, increasing adoption of 2D barcodes, growing demand for efficient warehousing and logistics, and supportive government initiatives are other factors further fuelling the growth of global barcode equipment market. Technological advancements in the development of smartphones with barcode reader technologies coupled with utilization of the technology in booming automotive industry will provide a great opportunity for the expansion of barcode equipment market in the coming years.
North America held the largest market share of global barcode equipment market due to early adoption of automatic data capture devices by manufacturers and escalating demand for factory automation. The Asia Pacific will witness the fastest market growth owing to rising number of supermarket chains, organized retail market, and growing awareness of consumers regarding good health and fitness which will augment the need to know about food and beverage product thoroughly, particularly in emerging economies such as China and India. However, the growth of global barcode equipment market will be hindered by high initial capital investment during the forecast period.
Key industry players profiled as part of this section are Honeywell International, OCR Canada, General Data Company, Avery Dennison, Printronix, SATO Holdings Corporation, Zebra Technologies, and Toshiba among others.
By Product Type
Logistic and Supply Chain
Key Topics Covered:
2. Research Methodology
3. Executive Summary
4. Market Dynamics
5. Barcode Equipment Market Forecast by Product Type (US$ billion)
6. Barcode Equipment Market Forecast by Application (US$ billion)
7. Barcode Equipment Market Forecast by Geography (US$ billion)