“Global Barcode Decoding Software Market to reach a market value of USD 498.1 Million by 2031 growing at a CAGR of 6.2%”
The Global Barcode Decoding Software Market size is expected to reach $498.1 billion by 2031, rising at a market growth of 6.2% CAGR during the forecast period.
In warehouse operations, it facilitates order picking and fulfillment processes. Thus, the warehouse segment generated 22.5% revenue share in the market 2023. Warehouse workers can scan barcodes on pick lists or product labels to identify and locate items within the warehouse quickly and accurately. This minimizes errors, speeds up order processing times, and improves fulfillment efficiency.
Barcode technology streamlines data entry processes, enabling businesses to improve efficiency and accuracy in various operations such as inventory management, asset tracking, and point-of-sale transactions. As businesses seek to optimize their operations, they increasingly use barcode technology to enhance productivity and reduce errors.
Additionally, many nations experienced significant increases in online retail sales in 2020. The Republic of Korea reported the largest percentage, rising from 20.8% to 25.9%. Hence, the expansion of the global e-commerce industry is propelling the market’s growth.
However, Legacy systems often use outdated technology and proprietary protocols that may not be easily compatible with modern barcode decoding software. Integrating it with legacy systems can be complex and time-consuming, requiring custom development and specialized expertise. Thus, limited compatibility with legacy systems is hindering the market’s growth.
Based on application, the market is segmented into manufacturing units, shopping malls, warehouse, hospital, and others. The manufacturing units segment recorded 30.7% revenue share in the market in 2023. Manufacturing units typically handle large volumes of raw materials, components, and finished goods.
Based on deployment mode, the market is divided into cloud-based and on-premises. In 2023, the cloud-based segment attained 35.3% revenue share in the market. Cloud-based solutions offer scalability to accommodate fluctuating workloads and business needs.
Free Valuable Insights: Global Barcode Decoding Software Market size to reach USD 498.1 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region generated 29.9% revenue share in the market. Europe has experienced significant growth in e-commerce, driven by increasing internet penetration, changing consumer behavior, and the convenience of online shopping.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 311.6 Million |
| Market size forecast in 2031 | USD 498.1 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 6.2% from 2024 to 2031 |
| Number of Pages | 189 |
| Number of Tables | 270 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Deployment Mode, Application, Region |
| Country scope |
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| Companies Included | Zebra Technologies Corporation, Honeywell International, Inc., Datalogic S.p.A. (Hydra S.p.A.), Cognex Corporation, Banner Engineering Corporation, TEKLYNX International, Capterra Inc. (Gartner), Loftware, Inc., Archon Systems Inc., Britecheck |
By Deployment Mode
By Application
By Geography
This Market size is expected to reach $498.1 billion by 2031.
Increasing adoption of barcode technology are driving the Market in coming years, however, High cost of initial investment restrictions issues restraints the growth of the Market.
Zebra Technologies Corporation, Honeywell International, Inc., Datalogic S.p.A. (Hydra S.p.A.), Cognex Corporation, Banner Engineering Corporation, TEKLYNX International, Capterra Inc. (Gartner), Loftware, Inc., Archon Systems Inc., Britecheck
The expected CAGR of this Market is 6.2% from 2024 to 2031.
The On-Premise segment is leading the Market by Deployment Mode in 2023; there by, achieving a market value of $307.2 million by 2031.
The North America market dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; there by, achieving a market value of $176.6 million by 2031.
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