Image Based Barcode Reader Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[218+ Pages Report] According to Facts and Factors, the global image based barcode reader market size was valued at USD 1917.09 million in 2022 and is anticipated to reach USD 2971.68 million during the forecast period. The image based barcode reader industry is likely to grow with a CAGR of 5.66% between 2023-2030.

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Market Overview

An image-based barcode reader refers to a scanner that uses an imaging system to capture the pictures of barcode symbols and further decode information encoded in the images. Unlike traditional laser standing methods, image-based barcode readers capture images of the barcode and utilize image processing methods to extract the data. These barcode readers utilize camera-based technology, which includes a high resolution to capture matrix and linear barcodes.

Key Insights

• As per the analysis shared by our research analyst, the global image based barcode reader market size is estimated to grow annually at a CAGR of around 5.66% over the forecast period (2023-2030).
• In terms of revenue, the global image based barcode reader market size was valued at around USD 1917.09 million in 2022 and is projected to reach USD 2971.68 million by 2030.
• Automation and Industry 4.0 is driving the growth of the global image based barcode reader market.
• Based on the sales channels, the offline sales channel segment is growing at a high rate and is projected to dominate the global market.
• Based on the connectivity, the power over internet (POE) segment is blooming at a high rate and is projected to dominate the global market.
• Based on the technology, the autofocus segment is likely to dominate the global market.
• Based on the end-user, the retail and commercial segment is likely to dominate the global market.
• Based on region, North America is expected to dominate the global market during the forecast period.           

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Growth Drivers

• Automation and Industry 4.0 is likely to propel the growth of the global market.

The growing adoption of Industry 4.0 and automation across the various end-user sectors like manufacturing, automation, pharmaceuticals, and others is driving the demand for image based barcode readers globally. These readers play a vital role in automating the processes, thereby helping companies improve data visibility, reduce errors, and enhance efficiency.

Also, the growing scope of e-commerce and online retail has led to an increase in demand for image based barcode readers. These barcode readers help in managing inventory in high volumes in e-commerce operations, tracking items, and sorting the processes.

For instance, Raiffeisen Online Russia launched QR scanning tech in December 2021. These smart engine devices are capable of scanning 1D and 2D barcodes on screens, documents, and other surfaces.

Restraints

• Integration of the devices is likely to restrain the growth of the global market.

Image-based barcode readers sometimes pose integration problems. Integrating these devices into the existing systems and workflows is both a costly and complex task. Compatibility issues with the legacy system pose challenges and require additional investments, which is likely to restrain the growth of the global image based barcode reader market.

Opportunities

• Rising manufacturing complexity is likely to offer growth opportunities in the global market.

The growing complexities in product assembly and quality control in manufacturing processes are creating a huge demand for barcode readers. These devices are highly used for quality inspection, traceability, and assuring that correct components are used in the manufacturing process. Therefore, such surging demand is likely to offer lucrative growth opportunities in the image based barcode reader industry.

Challenges

• Competing technology is a big challenge in a global market.

The existence of alternative tracking technologies like near field communication (NFC) and radio frequency identification (RFID) is likely to offer competition against these image based barcode readers, which is a big challenge in the global image based barcode reader market. For instance, Capitech launched Pay Me in November 2021. Pay Me is a new QR-scanning technology that helps customers send and receive money.

Segmentation Analysis

The global image based barcode reader market can be segmented into sales channels, connectivity technology, end-user, and others.

By sales channel, the market can be segmented into online and offline channels. The offline sales channel is the fastest-growing segment in the global image based barcode reader market because customers prefer to check the product physically.

The channel involves resellers, distributors, dealers, and brick-and-mortar stores. Customers can visit the physical stores for face-to-face interaction with the sales representatives to understand the product and its benefits. This channel is still swiping the largest revenue because people prefer hands-on experience for specialized advice before purchasing such products.

However, online sales channels are likely to grow parallelly in the forthcoming years because of the increasing scope of e-commerce websites. Also, the online channels offer a range of products.

By connectivity, the market can be segmented into POE (power over ethernet), Wi-Fi, Bluetooth, and USB. The power over internet (POE) segment accounts for the largest share of the image based barcode reader industry. It is a technology that permits both the power and data to be transferred over an ethernet cable.

The image based barcode readers with POE connectivity further simplify the installation, thereby reducing the requirement for additional power sources, and therefore it is the primary choice for the manufacturers. POE is widely deployed in several Industries where barcode readers are required to be used in locations without access to power outlets.

By technology, the market can be segmented into autofocus, C mount lens, S-mounted lens, and others. The autofocus segment is expected to register a notable growth in the forthcoming years because of its feature to permit devices to automatically adjust the focus of the camera or the image system. It helps barcode readers capture accurate and clear images of barcodes at different angles and distances without manual adjustments, and therefore, it is highly popular among customers.

However, the C-mount lens is also likely to grow in the forthcoming years because these are the standardized lenses used in different machine vision applications. The lenses are interchangeable and offer flexibility in choosing the appropriate lens for different requirements.

By end user, the market can be segmented into retail & commercial, manufacturing, automotive, semiconductors, general manufacturing, healthcare, defense, and others. The retail and commercial segment is likely to dominate the global image based barcode reader industry because of the growing use of image based barcode readers extensively for tracking, point of sale systems, and inventory management all across the supply chain.

These readers are widely found in warehouses, logistics centers, supermarkets, and retail stores. Retailers adopt videos to secure customer-related data. This data is further used in analyzing their customers for more targeted marketing campaigns through newsletters and email marketing.    

Report Scope

Report Attribute	Details
Market Size in 2022	USD 1917.09 Million
Projected Market Size in 2030	USD 2971.68 Million
CAGR Growth Rate	5.66% CAGR
Base Year	2022
Forecast Years	2023-2030
Key Market Players	Cognex Corporation, Datalogic, Zebra Technologies, Honeywell, Keyence Corporation, Omron Corporation, SICK AG, Microscan, Opticon, Toshiba Tec Corporation, Dynamsoft, Softek Software International, and Others.
Key Segment	By Sales Channels, By Connectivity, By Technology, By End-User, and Region
Major Regions Covered	North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options	Request customized purchase options to meet your research needs. Explore purchase options

Regional Analysis

• North America to lead the global market during the forecast period

North America is a significant region in the global image-based barcode reader industry because of its advanced commercial and industrial sectors. The market is expected to show a steady growth rate in the forthcoming years because of the increasing requirement for automation, greater accuracy in data capturing & tracking, and improved supply chain management.

The market is expected to witness some significant advancements in technology like improved image processing algorithms, high-resolution cameras, and the ability to scan 2D barcodes like Data Matrix codes and QR codes, which is likely to foster significant developments in the regional market in the forthcoming years. The advent of Industry 4.0 is likely to play a vital role in the growth of the industry in the region.

Asia Pacific is also expected to witness huge growth in the forthcoming years because of the growing commerce sector, increasing adoption of automation, and rapid industrialization in the region. The image-based barcode readers are widely used in diverse sectors like electronics, automobiles, retail & logistics, manufacturing, pharmaceuticals, and several others.

Also, the government is taking initiatives regarding traceability, product safety, and quality control, which is further likely to encourage the adoption of image based barcode readers in the industries.

Europe is also likely to grow steadily in the forthcoming years because of the presence of leading market players in the region. Also, the demand for image-based barcode readers is increasing across countries because of the increasing developments in the end user sectors like logistics, manufacturing, pharmaceuticals, and others.

Manufacturers are increasing their research and development activities to come up with unique products to cater to the diverse needs of consumers. For instance, Zebra Technologies in April 2023 said Foodstuffs from South Island is using their technology to get higher productivity accuracy and improve shopping experience.

Competitive Analysis

The key players in the global image based barcode reader market include:

• Cognex Corporation 
• Datalogic 
• Zebra Technologies 
• Honeywell 
• Keyence Corporation 
• Omron Corporation 
• SICK AG 
• Microscan 
• Opticon 
• Toshiba Tec Corporation 
• Dynamsoft 
• Softek Software International

For instance, Cognex Corporation launched DataMan 282 in March 2023. These lighting components improve the product’s feature to read direct part marks.

The global image-based barcode reader market is segmented as follows:

By Sales Channels Segment Analysis

• Online
• Offline Channels

By Connectivity Segment Analysis

• POE (Power Over Ethernet)
• Wi-Fi
• Bluetooth
• USB

By Technology Segment Analysis

• Autofocus
• C Mount Lens
• S-Mounted Lens
• Others

By End-User Segment Analysis

• Retail & Commercial
• Manufacturing
• Automotive
• Semiconductors
• General Manufacturing
• Healthcare
• Defense
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America