About Barcode System
Barcode system is refer as the system which is used to collect data automatically, that can expel risk of human error. It is a network of hardware and software comprises of mobile, computers, handheld scanners, printers and supporting software. Barcode system are of three types, 1D, 2D and 3D that identifies some information of the product and connects to the databases that analyses data available in the system. The market is rising due to the advancement in the technology in scanning and billing, but certain problems like camera scanning issue can create a hurdle in market growth
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.4% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Barcode System market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Wasp Barcode Technologies (United States), Acctivate (United States), System ID (United States), Fish Bowl (United States), Honeywell (United States), Asset Panda (United States), Finale Inventory (United States), BarTender (United States), GigaTrak (United States), Clear Spider (Canada) and Dynamic CAFM (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are TrackAbout (United States), Barcoding, Inc. (United States), Raj Barcode Systems Pvt. Ltd. (India), Best Barcode System Pvt. Ltd. (India) and United Barcode Systems (Spain).
Segmentation Overview
AMA Research has segmented the market of Global Barcode System market by Type (Hardware and Software), Application (Food & Beverages, Pharmaceutical, Consumer Goods, Electronics, Automotive and Others) and Region.
On the basis of geography, the market of Barcode System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). United States region held largest market share in the year 2023. If we see Market by End User, the sub-segment i.e. Logistics and warehouse will boost the Barcode System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Battery-free barcode scanner and Image-based barcode scanners are replacing the traditional laser barcode scanners
Market Growth Drivers:
Advancement in wireless technology and Increasing use of 3D barcode in the healthcare industry
Challenges:
Introduction of RFID (radio frequency identification) technology, Higher cost range equipment is required to implement the new system and Less secure compared to RFID which can be easily forged
Restraints:
Camera problem creating problem in tracing and A damaged barcode can create additional scanning problem
Opportunities:
Ongoing developments in trade globally will drive the barcode sytem market growth, as the shipments imported or exported are coded and labelled with barcodes for storing and recording the data regarding the products and goods
Market Leaders and their expansionary development strategies
In November 2022, Barcodes Group has acquired of MSA Systems, Inc., an automatic identification data capture (AIDC) solutions provider with a focus on warehouse management software, devices, and services. Based in San Jose, CA, MSA Systems has more than twenty years of expertise in AIDC hardware and software mobility solutions.
In July 2023, Namibia has launched its first-ever National Barcode System, a product identification code enabling the country to establish a unique identity for its products and services on the international market. and In February 2024, Bitly, a global software-as-a-service company, has unveiled its automated application programming interface (API) solution for 2D barcodes, revolutionising how companies manage product data and consumer engagement. 2D barcodes, a type of QR code, are set to replace traditional barcodes for consumer packaged goods (CPG) and retail product labels and packaging, offering enhanced data capture and deeper consumer-brand connections.
Key Target Audience
Manufacturer and developer, Sub component manufacturer and developer, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.