Asset Management Segment to Dominate North America Barcode Software Market during 2019–2027

According to a new market research study on “North America Barcode Software Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Application and End User” is expected to reach US$ 270.37 million by 2027 from US$ 159.37 million in 2019. The market is estimated to grow at a CAGR of 6.9% from 2020 to 2027. The report provides trends prevailing in the North America barcode software market along with the drivers and restraints pertaining to the market growth. Accurate real-time data collection processes at high demand are among the major factor driving the growth of the North America barcode software market. However, security related issues hinder the growth of North America barcode software market.    

The 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.

COVID-19 is having a very devastating impact over the North America region. In 2019, North America held the largest share of the barcode software market, and it is anticipated to hold a substantial share of the market during 2020–2027. The region is characterized by the presence of developed countries such as US and Canada, wherein the adoption of such software solutions is high owing to the huge presence of key technology and software companies. Presently, the US is the world’s worst-affected country by the COVID-19 pandemic that has adversely affected the economic and industry growth in the country, as well as in North America. However, no total lockdown was imposed in the country, and key businesses were operational during the pandemic crisis. In many regions, major companies adopted the remote working practices. Barcode software solutions are utilized in verticals such as healthcare, pharmaceuticals, and transportation and logistics, which were operating irrespective of the pandemic effect. Owing to the continuation of operations in these sectors, the demand for secure and advanced barcode software solutions remained undisrupted in 2020.  

Bluebird Inc., CVISION Technologies, Datalogic S.P.A., DENSO ADC, Dynamic Systems Inc., General Data Company, Honeywell International, Inc., NCR Corporation, and Zebra Technologies Corporation are among the leading companies in the North America 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, General Data announced that it has acquired AmeriGraph Packaging Group (Atlanta, GA). This acquisition expands General Data’s label converting capabilities to include prime labels and shrink sleeve packaging for consumer goods and food products, and also adds a southeast distribution center to better serve existing customers.    

The report segments the North America Barcode Software Market follows:

 North America Barcode Software Market – By Application

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

North America Barcode Software Market – By End-User

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

North America Barcode Software Market – By Country

• US
• Canada
• Mexico