The industrial barcode scanner market is expected to grow by USD 537.8 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Technavio has announced the latest market research report titled Global Industrial Barcode Scanner Market 2020-2024 (Graphic: Business Wire)
The growing adoption of Industry 4.0 has increased the deployment of advanced technologies such as cloud, cyber-physical systems, robots, big data, AI, and autonomous techniques across the manufacturing industry. This is helping manufacturing companies to ensure smooth operations and reduce the pressure on workers. With the adoption of Industry 4.0, it has become imperative for manufacturing companies to increase the use of asset tracking and monitoring technologies to effectively track and monitor asset locations and their status. Barcode scanners are the core devices for such activities. Therefore, the emergence of industry 4.0 is expected to have a positive impact on the growth of the global barcode scanner market during the forecast period.
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As per Technavio, the use of wearables with same functionalities as traditional barcode scanners will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Industrial Barcode Scanner Market: Use of Wearables with Same Functionalities as Traditional Barcode Scanners
The growing focus on reducing human error and improving efficiency has increased the adoption of advanced devices. For instance, several industrial operations are now adopting smart glasses that come with added functionalities such as barcode and QR code scanning capabilities. Companies such as DHL have adopted smart glasses and have established the same as a new standard in their operations. With technological advancements, smart glasses are likely to replace traditional wearable scanners in the future.
“Growing demand for rugged industrial barcode scanners and the increased use of big data with data captured from barcode scanners will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Industrial Barcode Scanner Market: Segmentation Analysis
This market research report segments the industrial barcode scanner market by product (mobile computers, handheld scanners, and ring scanners) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the industrial barcode scanner market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, North America is expected to register the highest incremental growth due to the strong presence of several manufacturing companies in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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