Global 2d Barcode Reader Market Size & Outlook, 2023-2030
Global 2d barcode reader market, 2018-2030 (US$M)
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Global 2d barcode reader market highlights
- The global 2d barcode reader market generated a revenue of USD 7,692.7 million in 2023 and is expected to reach USD 13,597.5 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 8.5% by 2030.
- In terms of segment, handheld accounted for a revenue of USD 5,189.8 million in 2023.
- Handheld is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, UK is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 7,692.7 million |
| Market revenue in 2030 | USD 13,597.5 million |
| Growth rate | 8.5% (CAGR from 2023 to 2030) |
| Largest segment | Handheld |
| Fastest growing segment | Handheld |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Handheld, Fixed |
Other key industry trends
- In terms of revenue, the North America accounted for 32.1% of the global 2d barcode reader market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, UK is the fastest growing regional market and is projected to reach USD 278.1 million by 2030.
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2D Barcode Reader Market Scope
2D Barcode Reader Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global 2d barcode reader market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to 2d barcode reader market will help companies and investors design strategic landscapes.
Handheld was the largest segment with a revenue share of 67.46% in 2023. Horizon Databook has segmented the Global 2d barcode reader market based on handheld, fixed covering the revenue growth of each sub-segment from 2018 to 2030.
The application of barcode technology as a kind of automatic identification/scanning system has significantly reduced human errors across several sectors. A typical error rate for human data entry is estimated to be one error per 300 characters typed. However, a barcode reader's error rate is anticipated to be one error per 35 trillion characters.
Whether it is to speed up the checkout process in the retail sector or track the inventory in a warehouse, barcode scanners have paved their way into a large variety of business operations. The devices help organizations conserve their resources, optimize the data entry process, improve real-time visibility of the products, and enhance employees productivity. For instance, several extensive healthcare facilitates in the U.S. use barcode technology to prevent medication errors.
Each patient is given a unique barcode wristband linked to the facility's computers, thereby ensuring a unique patient record. When a nurse scans the wristband and the medication to be administered, it is sent to the central computer where software cross-checks various databases. An approval or a warning is generated. Thus, the warning issued when the system detects a mismatch between the barcode label on the medication and the patient's record helps avoid any medication errors.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global 2d barcode reader market , including forecasts for subscribers. This global databook contains high-level insights into Global 2d barcode reader market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global 2d barcode reader market size, by regions, 2018-2030 (US$M)
Top 10 countries: 2d barcode reader market size, 2023 (US$M)
Global 2d barcode reader market share, by product, 2023 & 2030 (%, US$M)
2d barcode reader market: Opportunity assessment by country
Global 2d barcode reader market, by region, 2023 (US$M)
| Product | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 2,177.4 | 2,206.5 | 2,248.0 | 2,304.6 | 2,378.5 | 2,472.2 | 2,588.4 | 2,730.3 | 2,901.6 | 3,106.8 | 3,351.9 | 3,642.8 | 3,988.8 | 7.1% |
| Europe | 1,146.2 | 1,184.3 | 1,227.5 | 1,276.2 | 1,331.4 | 1,393.7 | 1,464.2 | 1,544.1 | 1,634.4 | 1,736.4 | 1,852.2 | 1,983.9 | 2,133.8 | 6.3% |
| Asia Pacific | 2,668.4 | 2,735.7 | 2,822.7 | 2,933.7 | 3,072.7 | 3,246.0 | 3,461.6 | 3,729.8 | 4,059.9 | 4,464.3 | 4,963.6 | 5,579.7 | 6,341.1 | 10.0% |
| Latin America | 261.6 | 270.7 | 281.9 | 295.5 | 312.0 | 331.9 | 356.1 | 385.4 | 420.8 | 463.6 | 515.6 | 579.1 | 656.7 | 10.2% |
| MEA | 192.2 | 199.9 | 209.1 | 220.1 | 233.2 | 248.9 | 267.4 | 289.1 | 315.1 | 345.6 | 381.7 | 425.1 | 477.1 | 9.7% |
| Overall | 6,445.9 | 6,597.0 | 6,789.1 | 7,030.0 | 7,327.7 | 7,692.7 | 8,137.6 | 8,678.6 | 9,331.7 | 10,116.6 | 11,065.0 | 12,210.6 | 13,597.5 | 8.5% |
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