PUBLISHER: The Business Research Company | PRODUCT CODE: 1484803
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484803
In-counter barcode scanners are devices seamlessly integrated into retail or point-of-sale (POS) counters, enabling swift scanning of barcodes on items during transactions. Engineered to streamline checkout processes, enhance accuracy, and bolster the overall efficiency of retail operations, they significantly reduce scanning time and minimize errors. These scanners are commonly deployed in supermarkets, stores, and other businesses where rapid scanning of items is essential.
The primary types of in-counter barcode scanners include one-dimensional and two-dimensional variants. One-dimensional barcode scanners analyze the width of individual lines and spaces within a barcode. They encompass technologies such as laser scanners, imagers, and omni-directional scanners, catering to diverse applications across industries including retail, healthcare, transportation and logistics, manufacturing, hospitality, among others.
The in-counter barcode scanners market research report is one of a series of new reports from The Business Research Company that provides in-counter barcode scanners market statistics, including in-counter barcode scanners industry global market size, regional shares, competitors with a in-counter barcode scanners market share, detailed in-counter barcode scanners market segments, market trends and opportunities, and any further data you may need to thrive in the in-counter barcode scanners industry. This in-counter barcode scanners market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The in-counter barcode scanners market size has grown strongly in recent years. It will grow from $2.13 billion in 2023 to $2.30 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth observed during the historical period can be attributed to several key factors, including the globalization of supply chains and markets, increased integration with point-of-sale (POS) systems, adherence to regulatory compliance requirements, initiatives focused on cost reduction, and improved inventory control measures.
The in-counter barcode scanners market size is expected to see strong growth in the next few years. It will grow to $3.18 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The anticipated growth in the forecast period is expected to be fueled by several factors, including the increasing adoption of automation in retail operations, advancements in artificial intelligence (AI) and machine learning technologies, rising demand for contactless solutions, heightened focus on enhancing supply chain resilience, and the expansion of omnichannel retail strategies. Major trends projected for this period encompass enhanced AI decoding capabilities, in-counter barcode scanners offering multi-functionality to meet diverse needs, incorporation of sustainability features to align with environmental concerns, enhanced data analytics capabilities for deeper insights, and customization options to cater to specific business requirements.
The increasing prevalence of e-commerce is anticipated to drive growth within the in-counter barcode scanners market. E-commerce, an online business model facilitating the exchange of goods and services via the Internet, is gaining traction due to its convenience, expanding internet accessibility, and shifting consumer preferences towards online shopping. In-counter barcode scanners play a vital role in various e-commerce operations, including receiving and restocking goods, picking and packing orders, and managing shipping, returns, and cycle counts. These scanners ensure accuracy and efficiency in these processes, enabling businesses to streamline operations and reduce costs. For example, according to the United States Census Bureau's February 2024 report, e-commerce sales in 2023 were estimated at $1,118.7 billion, reflecting a 7.6% (+-1.2%) increase from 2022, with e-commerce sales accounting for 15.4% of total sales, compared to 14.7% in 2022. Consequently, the expanding penetration of e-commerce is fueling the growth of the in-counter barcode scanners market.
Key players in the in-counter barcode scanners market are concentrating on developing innovative products, such as AI-assisted barcode readers, to gain a competitive advantage. AI-assisted barcode readers leverage artificial intelligence algorithms to enhance the accuracy and efficiency of barcode recognition. For instance, in October 2023, Cognex Corporation, a US-based manufacturer of machine vision systems, unveiled the AI-Assisted Barcode Reader DataMan 380. Equipped with a CMOS sensor boasting a resolution of up to 5320 x 3032 (16.13 MPixels) and offering shutter speeds ranging from 15 μs to 200 ms, these barcode readers utilize AI-accelerated decoding to boost throughput by simultaneously processing both 1D and 2D codes. Tailored for machine vision applications in logistics and manufacturing, these scanners represent a significant advancement in barcode scanning technology.
In June 2021, Brady Corporation, a US-based manufacturer of printers and labels, completed the acquisition of Code Corporation for $173 million. This strategic acquisition positions Brady as a comprehensive provider of industrial track-and-trace applications, bolstering its capabilities in barcode scanning solutions and workplace safety products. Code Corporation, headquartered in the US, specializes in providing barcode scanning solutions, including in-counter barcode scanners.
Major companies operating in the in-counter barcode scanners market are Honeywell International Inc., Fujitsu Limited, Toshiba Corporation, Seiko Epson Corporation, Motorola Inc., NCR Corporation, Zebra Technologies Corporation, Toshiba TEC Corporation, Casio Computer Co. Ltd., Opticon, SATO Holdings Corporation, Unitech Electronics Co. Ltd., Datalogic S.p.A., Posiflex Technology Inc., TSC Auto ID Technology Co. Ltd., Newland Auto-ID Tech. Co. Ltd., ZULTEC International Co. LTD, CipherLab, Janam Technologies LLC, Socket Mobile Inc.
North America was the largest region in the in-counter barcode scanners market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-counter barcode scanners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the in-counter barcode scanners market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The in-counter barcode scanners market consists of sales of fixed in-counter barcode scanners, wireless in-counter barcode scanners, industrial-grade in-counter barcode scanners, and high-speed in-counter barcode scanners. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
In-Counter Barcode Scanners Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on in-counter barcode scanners market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for in-counter barcode scanners ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The in-counter barcode scanners market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.