Image Based Barcode Reader Market Report 2024

The image based barcode reader Market size has grown strongly in recent years. It will grow from $1.83 billion in 2023 to $1.95 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth observed in the historic period can be credited to several factors, including the rise of automation and Industry 4.0, growing demand for efficient barcode scanning solutions, increasing adoption of barcode technology, and enhanced revenue and productivity.

The image based barcode reader market size is expected to see strong growth in the next few years. It will grow to $2.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The anticipated growth in the forecast period is driven by several factors, including the expanding e-commerce and retail sectors, greater adoption of automation and Industry 4 practices, rising demand for image-based barcode readers, and increasing needs for automation solutions. Key trends expected in this period encompass the integration of AI and machine learning, the proliferation of advanced barcodes and QR codes, ongoing technological advancements, improvements in imaging technology, and integration with smartphone technology.

The image-based barcode reader market is poised for growth driven by the expanding e-commerce and retail sectors. E-commerce involves online buying and selling, while retail encompasses both physical stores and online channels. The increasing popularity of e-commerce and retail is fueled by the convenience of online shopping, diverse product offerings, and widespread mobile device use with internet access. Image-based barcode readers play a critical role in these sectors by facilitating precise inventory management, swift checkouts, and efficient order fulfillment through their ability to scan various barcode types from any angle. For example, according to the United States Census Bureau, e-commerce sales in the first quarter of 2024 increased by 8.5 percent compared to the previous year, highlighting the sector's growth and impact on the barcode reader market.

Leading companies in the image-based barcode reader market are focusing on advanced technological solutions, such as AI-assisted barcode reader systems, to enhance accuracy, speed, and functionality in barcode scanning. These systems utilize artificial intelligence to improve image processing algorithms, enabling quick and accurate barcode decoding under various conditions. For instance, Cognex Corporation introduced the DataMan 380 series in October 2023, featuring high-resolution CMOS sensors and AI-accelerated decoding capabilities. This technology enhances throughput and traceability across logistics and manufacturing applications, including robotic operations and pallet scanning.

In June 2023, Zebra Technologies Corporation acquired Matrox Imaging for $875 million, expanding its machine vision capabilities and bolstering its presence in the industrial automation market. Matrox Imaging specializes in image-based barcode reader solutions, complementing Zebra's portfolio and accelerating its automation strategy.

Major companies operating in the image based barcode reader market are DENSO Corporation, Honeywell International Inc., Omron Corporation, Zebra Technologies, SICK Vertriebs-GmbH, Cognex Corporation, Datalogic S.p.A., Scandit AG, Blue Bird Corporation, CipherLab Co. Ltd., Code Corporation, Newland Auto-ID Tech Co. Ltd., Jadak a Novanta Company, Argox Information Co. Ltd., RTscan Technology Limited, Socket Mobile Inc., SATO Holdings Corporation, Microscan Systems Inc., Marson Technology Co. Ltd., Opticon Sensors Europe B.V., Axicon Auto ID Ltd., Keyence Corporation, NCR Corporation, MindSEO Lda.

North America was the largest region in the image based barcode reader Market in 2023. The regions covered in the image based barcode reader market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the image based barcode reader market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Image-based barcode readers utilize optical recognition technology to scan and decode barcodes by capturing an image using a camera or image sensor, rather than employing traditional laser scanning methods. These devices capture an image of the barcode, employ software to extract encoded information, and interpret it for various applications such as inventory management, logistics, and retail operations.

The primary categories of image-based barcode readers include handheld and stationary types. A handheld barcode reader is a portable device equipped with a scanner that uses either laser or camera technology to capture and decode barcode data. These devices employ different technologies such as S-mounted and C-mounted lenses, and offer connectivity options such as USB, Bluetooth, Wi-Fi, and Power over Ethernet (PoE). They are used across retail, wholesale, logistics, warehouse management, industrial manufacturing, healthcare, automotive, food and beverage, semiconductors, general manufacturing, commercial aviation, and defense sectors.

The image based barcode reader market research report is one of a series of new reports that provides image based barcode reader market statistics, including image based barcode reader industry global market size, regional shares, competitors with a image based barcode reader market share, detailed image based barcode reader market segments, market trends and opportunities, and any further data you may need to thrive in the image based barcode reader industry. This image based barcode reader market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The image based barcode readers market includes revenues earned by entities by providing services such as installation services, training and education, scheduled maintenance services, consulting services, and integration services. The market value includes the value of related goods sold by the service provider or included within the service offering. The image-based barcode readers consist of sales of products including camera modules, image processing software, optics and lenses, barcode labels, and software development kits (SDKs). Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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