Package Tracking is Expected to be Fastest growing Segment During Forecast Period for APAC Region

According to a new market research study on “APAC Barcode Software Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Application and End User” is expected to reach US$ 354.74 million by 2027 from US$ 203.23 million in 2019. The market is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report provides trends prevailing in the APAC barcode software market along with the drivers and restraints pertaining to the market growth. Supply chain management witnessing need for barcode software is among the major factor driving the growth of the APAC barcode software market. However, security related problems hinder the growth of APAC barcode software market.    

The APAC barcode software market is segmented based on application and end-user. Based on application, the market is segmented into asset management, package tracking, employee attendance and time tracking, and others. The asset management segment accounted for the largest revenue share in 2019. Based on end-user, the market is segmented into manufacturing, transportation and logistics, retail, healthcare, and others. The manufacturing segment accounted for the largest revenue share in 2019.

APAC is a fast-growing and highly dynamic region in terms of economic growth and positive industrial growth outlook. The region is characterized by the presence of developing countries such as China and India, and many South Asian countries; in these countries, technology investments in various sectors is growing at an impressive pace. The rapid growth of urbanization and industrialization, and presence of huge number of large enterprises and SMEs in APAC make it a promising market for the growth of barcode software market players. In APAC, continued adoption of barcode software was observed amid the COVID-19 pandemic, mainly to maintain and streamline the supply chain operations. Additionally, barcode software providers in the region worked uninterruptedly during the pandemic period, offering customer support and training.

Bluebird Inc., CVISION Technologies, Datalogic S.P.A., DENSO ADC, Honeywell International, Inc., NCR Corporation, Zebra Technologies Corporation, and Zebex Industries Inc are among the leading companies in the APAC barcode software market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Bluebird (www.bluebirdcorp.com), an enterprise total IoT solution specialist, announced on the 8th that the new RFID products with its 20 years of accumulated technology and know-how will be showcased at NRF (National Retail Federation), the largest retail technology expo in North America held in New York on the coming 12th.     

The report segments the APAC Barcode Software Market follows:

 APAC Barcode Software Market – By Application

• Package Tracking
• Employee Attendance and Time Tracking
• Asset Management
• Others

APAC Barcode Software Market – By End-User

• BFSI
• Transportation and Logistics
• Manufacturing
• Healthcare
• Retail
• Others

APAC Barcode Software Market – By Country

• Australia
• China
• Japan
• India
• South Korea
• Rest of APAC