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What is the Projected Compound Annual Growth Rate (CAGR) of the 2D Barcode Reader Market from 2025 to 2034, and What Factors Influence It?

The 2D barcode reader market has grown strongly. It is projected to expand from $7.27 billion in 2024 to $7.76 billion in 2025, with a CAGR of 6.7%. Historical growth has been fueled by economic expansion in emerging markets, global population growth, and the increasing use of barcode scanners in healthcare.

The 2D barcode reader market is expected to expand significantly, reaching $10.55 billion by 2029 with a CAGR of 8.0%. This growth will be driven by factors such as global population growth and urbanization, rapid e-commerce expansion, increased spending on leisure activities, greater retail penetration, growing Internet and smartphone adoption, and rising preference for contactless delivery solutions. Major trends in the industry include the adoption of high-speed, omnidirectional barcode readers, the introduction of next-generation scanners, development of technologically advanced reader systems, use of AI-powered readers, and innovations in web-compatible barcode scanners.

What Key Drivers Are Accelerating the Growth of the 2d barcode reader Market During the Forecast Period?

The increasing demand in e-commerce and logistics is expected to drive the growth of the 2D barcode reader market. As online shopping continues to rise, more distribution centers and warehouses are being set up, driving the demand for 2D barcode readers. The U.S. Census Bureau estimated in February 2024 that e-commerce sales in the U.S. for 2023 reached $1,118.7 billion, marking a 7.6% increase from 2022. Thus, the growth in e-commerce and logistics is pushing the demand for 2D barcode readers.

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Who Are the Leading Players Fueling Growth in the 2D Barcode Reader Market?

Major companies operating in the 2D barcode reader market include:

• Honeywell InternationalInc._x000D_

• Omron Corporation_x000D_

• Keyence Corporation_x000D_

• Cognex Corporation_x000D_

• Datalogic S.p.A._x000D_

What Are the Emerging Trends Shaping the Future of the 2D Barcode Reader Market?

Key players in the 2D barcode reader market are concentrating on developing innovative products such as application programming interface (API) solutions to enhance integration and functionality across multiple systems and applications. These API solutions allow businesses to seamlessly incorporate barcode scanning capabilities into their software, improving data exchange, inventory management, and overall operational efficiency. For instance, in February 2024, Bitly, a U.S.-based software-as-a-service company, introduced an automated 2D barcode API solution. This API enables developers to efficiently generate and manage 2D barcodes, including QR codes, with customizable and tracking features. The solution offers automated barcode generation, customization options, data tracking, seamless system integration, support for multiple barcode formats, a user-friendly interface, and secure access for data protection.

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Which Key Segments Define the Structure of the 2D Barcode Reader Market and Their Growth Potential?

The 2D barcode reader market covered in this report is segmented –

1) By Reader Type: Cord, Cordless

2) By Application: Warehousing, Logistics, E-Commerce, Factory Automation, Brick and Mortar

3) By End User: Retail, Hospitality, Transportation and logistics, Manufacturing, Healthcare, Others End Users

Subsegments:

1) By Cord: USB Corded Barcode Scanners, Serial Corded Barcode Scanners, Keyboard Wedge Barcode Scanners

2) By Cordless: Bluetooth Barcode Scanners, Wi-Fi Barcode Scanners, RFID Barcode Scanners

Which Regions Are Driving Growth in the 2D Barcode Reader Market?

Asia-Pacific was the largest region in the 2D Barcode Reader market in 2024. The regions covered in the 2D barcode reader market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Defines the Scope of the 2D Barcode Reader Market?

The 2D (two-dimensional) barcode is a graphical image that stores information horizontally and vertically. The 2D barcode reader is used to scan the pictures of both 1D and 2D barcodes. The 2D barcode reader, also known as an area imager, involves the optimization of images for contrast and then decoding them to extract information from the barcode.

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