Industry Background:
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
According to AMA, the market for Barcode System is expected to register a CAGR of 5.4% during the forecast period to 2026. This growth is primarily driven by Advancement in wireless technology and Increasing use of 3D barcode in the healthcare industry.
Globally, a noticeable market trend is evident Battery-free barcode scanner
. The Internet Software & Services sector in the United States region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as 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) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
Wasp Barcode Technologies UK announce their new partnership with BlueStar Europe, who is one of the leading global distributor of solutions-based ADC, Point-of-Sale, RFID, digital signage, and ID & security technology and the company also acquires Captra from symbol technologies
Honeywell introduced the world’s first battery-free barcode scanner that uses supercapacitor to reduce the charging time and downtime for barcode scanners
Market Drivers
- Advancement in wireless technology
- Increasing use of 3D barcode in the healthcare industry
Market Trend
- Battery-free barcode scanner
- Image-based barcode scanners are replacing the traditional laser barcode scanners
Restraints
- Camera problem creating problem in tracing
- 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
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
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Barcode System Study Sheds Light on
The Barcode System Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Barcode System industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Barcode System industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.