Image Based Barcode Reader Market Is Expected To Grow At A CAGR Of 7% Through 2030

These insights are according to a new study on the image-based barcode reader market by ESOMAR-certified research and consulting firm Future Market Insights. Increasing penetration of Industry 4.0 has spurred the deployment of advanced technologies such as cyber-physical systems, cloud, robotics, artificial intelligence (AI), big data, and autonomous techniques across the manufacturing industry. This is helping manufacturing firms to ensure uninterrupted operations and curb the pressure on workers.

Furthermore, the adoption of industry four.0 has motivated manufacturing companies to increasingly flip to asset tracking and monitoring technologies to correctly music and screen asset locations and their status. Photographs primarily based on barcode readers are the core gadgets for such sports.

With the excessive penetration of extraordinarily state-of-the-art clever phones, QR codes and bar codes are getting used as the following step for app-based totally retail answers. Currently, businesses are voraciously absorbing the would possibly of photo-based barcodes because it serves as a lead magnet via competitive advertising campaigns.

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Key Takeaways of Image-Based Barcode Reader

• Players to launch proprietary QR code scanner and reader apps that are compatible with Android and iOS
• Market in East Asia to witness meteoric growth, majorly represented by China
• The retail and commercial industry to remain the key revenue generator, capturing over 30% of market value
• Future QR codes are expected to reduce error margins ranging between 7-30%

Rapid Advances in Sensor Technology to Augur Well for Market Growth

A high-powered integrated torch (HPIT) image creation system, driven by high-speed liquid lens technology and time-of-flight (ToF) distance measurement, is making a measurable impact by allowing dynamic autofocus at frames per second (FPS). The most recent image-based barcode readers come with HPIT feature for use cases including, high-rate tunnel sortation and warehouse handling in situations where product dimensions and packages can differ considerably, demanding the camera to swiftly adjust to various focal ranges.

The HPIT light offers superior illumination ability for fixed-position image-based barcode readers. HPIT is perfect for hard-to-read barcodes, presentation scanning, and use cases that confront the challenge of shifts in working distances. The solution leverages high-rate autofocus technology, distance sensors to deliver top-quality 1D and 2D code image creation, and 16 programmable LED lights.

“QR codes have been around for a long time, though they often have been perceived as a mere tech solution in pursuit of a problem. However, as is the case with swarms of things in the new normal, the COVID-19 pandemic is providing new meaning to QR codes as an elegant enabler of contact-less commerce,” says analysts at FMI.

North America Takes the Lead, East Asia Reflects Potential Growth Avenues

North America has been a testbed for tech-enabled innovations and is characterized by a well-established digital ecosystem. The developed region continues to offer opportunities for growth and profitability to image-based barcode reader manufacturers over the following decade. The US spearheads the regional market, where image-based barcode readers are significantly used in the retail sector for a smooth shopping experience.

Moving, the market in East Asia is experiencing tremendous growth, owing to the flourishing retail sphere and subsequent development in manufacturing projects that are accepting the need for automated warehouses and thus, triggering the demand for barcode readers. Adoption of 2D Image/ Code Scanning in warehousing activities as well as in shipping and logistics operations is benefitting enterprises in the form of smooth business operations management. Digitization of the retail market, especially in China, and India, is further opening doors of opportunities for the image-based barcode reader market.

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To Know More About Image-Based Barcode Reader Market:

A new market research report published by Future Market Insights (FMI) on the global image-based barcode reader market report provides extensive insights into the market demand trends and analysis of opportunities over the forecast period. The report analyzes the image-based barcode reader market through seven different segments – imaging type, product type, end-use, technology, connectivity, sales channel, and region. The image-based barcode reader market report also offers an in-depth assessment of pricing by different key market dynamics, life cycle analysis, and technologies that are being deployed in the manufacturing of image-based barcode readers and product adoption across several end-use industries.