Europe 2D Barcode Reader Market Forecast to 2028 -Regional Analysis

The Europe 2D barcode reader market is expected to grow from US$ 2,386.97 million in 2023 to US$ 3,529.48 million by 2028. It is estimated to grow at a CAGR of 8.1% from 2023 to 2028.

New Product Lunches is Fueling Europe 2D Barcode Reader Market

With the rise in industrialization several industries such as healthcare, warehousing, automotive, and retail are adopting various solutions to simplify their workflow and reduce their downtime to stand out in the market. A 2D barcode reader is widely used to encode product information stored in the barcodes. It helps reduce error rates and improve operational efficiency in end-user industries. In addition, 2D readers can store more data compared to 1D readers, which enables fast data access. Due to all these advantages, the demand for 2D barcode readers is increasing. Hence, market players are launching new products with additional features to attract potential customers of 2D barcode readers and increase their revenues and sales.

A few examples are mentioned below:

In September 2020, Omron Corporation launched V410-H handheld barcode reader with an extended read range of 1.1 m. This product can be used in industrial and life sciences sectors. In October 2020, RTscan unveiled RTX200: NFC barcode Reader with a Wi-Fi interface. This reader can read 1D/2D barcodes and support Wi-Fi communications. In October 2022, Socket Mobile launched a line of 2D barcode readers: SocketScan S820, DuraScan D820, and DuraSled DS820. SocketScan S820 works with Bluetooth wireless technology that can be connected to mobiles. DuraScan D820 is built with an extra rubberized material to increase the product's durability and provide drop protection. It can be used it the retail store at point of sale, inventory management, and others. DuraSled DS820 is ideal for applications such as asset tracking and delivery services. New product launches with innovative features attract potential buyers, propelling the 2D barcode reader market growth.

Europe 2D barcode reader market Overview

The Europe 2D barcode reader market is segmented into France, Germany, Italy, Russia, the UK, and the Rest of Europe. Europe consists of many small and large SMEs, which contributes to the growth of warehouses that encourage the adoption of technologies. Rise in e-commerce and online retail activities are major factors increasing the demand for different types of warehouses such as mega fulfillment centers (merchandise storage and pick-up), parcel sorting centers, local parcel delivery centers, dot.com warehouses (fulfillment of online orders), return processing centers, and local delivery centers (for same-day deliveries). According to Meritus Systemy Informatyczne Sp. z o.o., the demand for warehouse and industrial space across Europe grew by 35% in 2021 compared to 2020, and the warehouse vacancy rate decreased by 4% in the same period. The aggregate vacancy rate in Europe fell below 4%, and a ~23% share of the demand was from the e-commerce industry in 2021. Further, the region is experiencing the opening of new warehouses. For instance, in December 2022, GEODIS opened a new warehouse in Nuremberg metropolitan region, Germany. In addition, in July 2022, DACHSER opened a new warehouse in Pont d'Ain, France. Thus, due to the rise in the number of warehouses in Europe, there is an increased need for better inventory management and tracking, which boosts the demand for 2D barcode readers to improve the operational efficiency of the warehouses. All these factors are propelling the 2D barcode reader market in the region.

Exhibit: Europe 2D barcode reader market Revenue and Forecast to 2028 (US$ Million)

Europe 2D barcode reader market Segmentation

The Europe 2D barcode reader market is segmented into product type, application, and country. Based on product type, the market is bifurcated into handheld and fixed. The handheld segment held a larger market share in 2023

Based on application, the market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The e-commerce & retail held the largest market share in in 2023.

Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the market share in 2023.

Adesso Inc; Cognex Corp; Newland Auto-ID Tech Co Ltd; Honeywell International Inc; Keyence Corp; Omron Corp; DataLogic Spa; and Zebra Technologies Corp are the leading companies operating in the 2D barcode reader market in the region.