With the rapid growth in several industries such as retail, e-commerce, and warehouse, the demand for 2D barcode readers is also increasing. A 2D barcode reader helps maintain product information and manage the inventory; hence, several industries are adopting these readers to boost the productivity and workflow of business operations. To cater to such demand, various 2D barcode reader market players are taking strategic initiatives such as mergers and acquisitions to leverage each other's technologies and explore each other's audience, leading to increased sales and brand value. Such activity is expected to provide lucrative growth opportunities for the market player in 2D Barcode Reader Market.
The Middle East & Africa (MEA) 2D barcode reader market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of MEA. In the MEA, the rise in disposable income contributed to the growth in large-scale retail outlet chains and e-commerce. This has increased logistics and warehousing operations, which further generates a high demand for automated solutions to manage activities associated with logistics, transportation, and warehouses. The UAE's strong e-commerce sales are propelling the country's need for warehousing. Under Vision 2030, Saudi Arabia is investing heavily in the logistics sector, which is expected to hold 30% of the country’s economy by 2030. Thus, the investment in logistic sector and e-commerce sales in MEA countries are a few factors propelling the need for 2D barcode readers, contributing to the market growth.
Moreover, the MEA is home to strong third-party logistics (3PL) providers such as AL HILAL LOGISTICS, RAK Logistics, and Emirates Logistics LLC. These companies are constantly engaged in expanding their businesses across the region owing to increased e-commerce activities and goods transportation. For instance, in December 2022, DHL launched a direct flight from Bahrain to Istanbul, which contributed to increased operations of the business and enhanced transit times. Thus, increased operations and goods transportation will require a 2D barcode reader for accurate tracking of the goods and parcels. In addition, Oman has a strong logistics sector as it is located on the axis of the Indian Ocean and Arabian Gulf, which helps to decrease the transit time through the shipping routes. It also shares free trade agreement (FTA) with the US, which leads to increase operation in the movement of goods. To manage the inventories and the tracking of goods, the demand for 2D barcode readers will increase.
Furthermore, many retail giants are expanding their business in the MEA. For instance, in March 2023, Amazon opened a new center in Dubai, which grew the company's total storage capacity by 70% in the UAE due to a rise in e-commerce sales in the region. In addition, in December 2022, they opened their second warehouse in the UAE to enhance the end-to-end supply chain operations across the MEA. Thus, establishing new logistics centers and warehouses can increase the demand for 2D barcode readers as it helps employees quickly scan and track inventories, update stock levels, and review the movement of goods across the supply chains. It also helps to increase the operational efficiency of the whole supply chain, which contributes to its increased adoption. All these factors are propelling the market growth in the region.
Middle East & Africa 2D Barcode Reader Market Segmentation
The Middle East & Africa 2D barcode reader market is segmented into product type, application, and country. Based on product type, the market is bifurcated into handheld and fixed. The handheld segment held a larger market share in 2023.
Based on application, the market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The warehousing & logistics held the largest market share in in 2023.
Based on country, the market is segmented into South Africa, Saudi Arabia , the UAE, and the Rest of Middle East & Africa. The UAE dominated the market share in 2023.
Cognex Corp; Newland Auto-ID Tech Co Ltd; Honeywell International Inc; Keyence Corp; Omron Corp; DataLogic Spa; and Zebra Technologies Corp are the leading companies operating in the 2D barcode reader market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 846.08 Million |
| Market Size by 2028 | US$ 1083.61 Million |
| CAGR (2023 - 2028) | 5.1% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East & Africa 2D Barcode Reader Market is valued at US$ 846.08 Million in 2023, it is projected to reach US$ 1083.61 Million by 2028.
As per our report Middle East & Africa 2D Barcode Reader Market, the market size is valued at US$ 846.08 Million in 2023, projecting it to reach US$ 1083.61 Million by 2028. This translates to a CAGR of approximately 5.1% during the forecast period.
The Middle East & Africa 2D Barcode Reader Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East & Africa 2D Barcode Reader Market report:
The Middle East & Africa 2D Barcode Reader Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa 2D Barcode Reader Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa 2D Barcode Reader Market value chain can benefit from the information contained in a comprehensive market report.
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