Global 2D Barcode Reader Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

“Global 2D Barcode Reader Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global 2D barcode reader market report has been segmented on the basis of type, and region.

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Global 2D Barcode Reader Market: Overview

2D barcode readers can read both 1D & 2D barcodes. 2D barcodes can store much more information than the 1D barcode. The 2D barcode is also used for capturing the image of documents, signatures, and product identifications which may include product price, name, size, and other information about the product. Also, 2D barcode has the ability to scan the barcode from any direction.

Global 2D Barcode Reader Market: Dynamics

The increasing demand for 2D barcode reader because it helps to scan and read both 1D and 2D barcodes is a major factor expected to drive the global market growth over the next 10 years. Increasing transactions speed for billing & other related operations and to improve customer experience are other major factors estimated to boost growth of the global market to a certain extent. Adoption of 2D barcode reader as an integrated component is expected to rise in various end-use sectors.

However, the higher cost of the 2D barcode reader is a key factor that can hamper growth of the global market. In addition, 2D barcode readers are costlier than 1D barcode readers due to new technology. This is probably to result in low acceptance of the 2D barcode reader thereby limiting revenue growth.

Increasing demand for portable 2D barcode reader and development of technologically advanced reader systems can create revenue opportunities for the major players operating in the global market in the next few years.

Global 2D Barcode Reader Market: Segment Insights

Among the type segments, the QR code segment is expected to register a major revenue share in the global 2D barcode reader market. The PDF417 segment is projected to follow the QR code segment in terms of revenue, owing to the growing adoption of mobile devices such as smartphones and tablets are used for scanning the barcodes. The global 2D barcodes reader such as QR codes, data matrix barcodes, PDF417, and Aztech 2D are being increasingly used due to quicker scanning, efficient, high durability and fewer errors as associated to 1D barcodes.

Global 2D Barcode Reader Market: Region Insights

The market in North America is projected to dominate in terms of revenue in the global market in 2018. This is attributable to various major manufacturers operating in the North America market, and increasing capital investments in countries such as the US and Canada in the region. The North America market is expected to be followed by the Europe market in terms of revenue share in the global 2D barcode reader market.

Asia Pacific market is expected to register faster growth in terms of revenue over the next 10 years, due to increasing investments and funds and in the healthcare & pharmaceuticals, transportation, military applications and other sectors in the countries such as China and India. The markets in the other regions are projected to support the revenue growth of the 2D barcode reader market.

Global 2D barcode reader market segmentation:

Segmentation by Type:

• QR Codes
• Data matrix
• PDF417
• Aztech 2D

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa