In a recently published report, Image Based Barcode Reader Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Image Based Barcode Reader Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Request For Full Report:https://www.kennethresearch.com/sample-request-10346729
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Image Based Barcode Reader Market is valued approximately USD XXX million in 2019 and is anticipated to grow with a healthy growth rate of more than 7.0 % over the forecast period 2020-2027. Image-based barcode readers utilize an area array sensor alike those found in digital cameras to obtain a picture of 1D and 2D barcodes. Then a microprocessor, running special image-processing software, locates and decodes the code before distributing the resulting data across a network. These barcodes are majorly used at shopping malls, grocery stores and retail stores to tag items and ease the process of billings. The increasing shopping malls across the globe drive the demand for Image based barcode readers. Further, growing demand from Online and Offline Shopping propels retailers to use barcode readers for increased revenue and productivity. Moreover, with technological advancements Smart phones can be used as image-based barcode readers and scanners. With these smart phones customers can scan product information, add products into virtual cars and more. As 11 million households in US scanned bar codes and QR codes from a meagre 9 million scans in 2018.
The growing penetration of smart phones across the globe escalates the market growth. Further, these barcode readers have utilization in warehouses where automated robots which have embedded barcode readers manage and operate inventories, check products, bad labelling and price discrepancies. As in September 2020, Flensburger Brewery’s Logistics Center adopted Cognex Image based barcode readers for efficient operations. The addition of this barcode reader not only saves time but also enhances safety in congested forklift and truck traffic as these barcode readers are mounted in the container masts which recognizes the pallet label and scans the barcode. However, security concerns impede the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Image Based Barcode Reader market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of technology and well-established infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as increasing penetration of Smart Phones would create lucrative growth prospects for the Image Based Barcode Reader market across Asia-Pacific region.
Major market player included in this report are:
Denso Wave Incorporated
Honeywell International Inc.
Toshiba Tec Corporation
Wasp Barcode Technologies
RIOTEC CO., LTD.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Imaging Type:
1D Image/ Code Scanning
2D Image/ Code Scanning
By Product Type:
By End Use:
Retail and Commercial
S mounted lens
C mounted lens
Autofocus / Liquid based lens
Download Sample of This Strategic Report:https://www.kennethresearch.com/sample-request-10346729
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Image Based Barcode Reader Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Email : [email protected]
Phone: +1 313 462 0609