The report forecasts the global wearable scanner market to grow at a CAGR of 3.9% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, the need for accuracy in data computation and storage will be a major growth driver for this market. The need for accurate data calculation and storage of information is increasing in the global wearable scanner market. A single wrong entry can lead to loss of revenue or tarnish the brand image of an organization. Being more reliable and accurate, wearable scanners are replacing manual data entry systems and are eliminating human errors. In the healthcare industry, use of barcoding technology reduced medication error rate by almost 90% from 2005-2015.
Further, the report states that one challenge that will negatively impact this market's growth will be the increasing sales of alternatives. 2D wearable scanners are trending nowadays along with the popularity of 2D or QR codes. However, 2D wearable scanners are not the only devices that can read QR codes; the same task can be performed with smartphones. Smartphones are able to scan a QR code, and direct users to the particular uniform resource locator (URL) encoded in the code.