At 8.1% CAGR, the Europe 2D Barcode Reader Market is projected to be worth US$ 3,529.48 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe 2D barcode reader market was valued at US$ 2,386.97 million in 2023 and is expected to reach US$ 3,529.48 million by 2028, registering a CAGR of 8.1% from 2023 to 2028. Growth of logistics and e-commerce sectors and new product launches are the critical factors attributed to the Europe 2D barcode reader market expansion. 

Growth in consumer disposable income has changed their lifestyle and purchasing patterns. Consumers prefer to shop online as it offers a wide range of products and saves time and money compared to brick-and-mortar stores. In addition, the increasing penetration of the internet and smartphones has further boosted the online shopping market. These factors have led to the growth of the e-commerce sector. Further, the increasing e-commerce sector is boosting the transportation of goods. This is positively influencing activities in the warehouses and goods supply chain, further propelling the growth of the logistics sector. 

A 2D barcode reader plays a vital role in supporting the increasing e-commerce sector by managing the increased amount of goods and their information. In the supply chain networks, tracking product and sales information in real-time helps deliver the goods on time to the customers, which demands a 2D barcode reader to maintain the sales information and for better inventory management. Every product has a unique identification code that stores its information which can be accessed with the help of a 2D barcode reader. In warehouses and wholesale markets, using 2D barcode readers can help reduce data entry and increase the accuracy of the data, making it easier to maintain the inventory and track product information. It offers more flexibility and productivity in the e-commerce and logistics businesses. Thus, the growth of e-commerce and logistics sectors propels the 2D barcode reader market growth.

On the contrary, customer preference for self-checkout systems hurdles the growth of Europe 2D barcode reader market.

Based on product type, the Europe 2D barcode reader market is bifurcated into handheld and fixed. The handheld segment held 59.2% market share in 2023, amassing US$ 1,413.89 million. It is projected to garner US$ 2,165.64 million by 2028 to expand at 8.9% CAGR during 2023–2028.

Based on application, the Europe 2D barcode reader market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The e-commerce & retail segment held 30.6% market share in 2023, amassing US$ 730.22 million. It is projected to garner US$ 1,143.94million by 2028 to expand at 9.4% CAGR during 2023–2028.

Based on country, the Europe 2D barcode reader market has been categorized into Germany, France, Italy, the UK, Russia, and the Rest of Europe.  Our regional analysis states that Germany captured 23.5% market share in 2023. It was assessed at US$ 561.97 million in 2023 and is likely to hit US$ 836.84 million by 2028, exhibiting a CAGR of 8.3% during the forecast period.     

Key players dominating the Europe 2D barcode reader market are Adesso Inc; Cognex Corp; Newland Auto-ID Tech Co Ltd; Honeywell International Inc; Keyence Corp; Omron Corp; DataLogic Spa ;and Zebra Technologies Corp among others.   

• In Sept 2020, Omron has introduced its V410-H handheld barcode reader family.
• In Feb 2021, DATALOGIC S.R.L.: ACQUISITION FROM FINMASI DI MARCELLO MASI & C. S.A.P.A. OF THE ENTIRE SHARE CAPITAL OF M.D. MICRO DETECTORS S.P.A..

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