At 10.6% CAGR, the Asia Pacific 2D Barcode Reader Market is projected to be worth US$ 2,872.23 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Asia Pacific 2D barcode reader market was valued at US$ 1736.16 million in 2023 and is expected to reach US$ 2,872.23 million by 2028, registering a CAGR of 10.6% from 2023 to 2028. Rise in mergers and acquisitions and rise in factory automation are the critical factors attributed to the Asia Pacific 2D barcode reader market expansion. 

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. For instance,

Such activity is expected to provide lucrative growth opportunities for the market player in 2D Barcode Reader Market.

On the contrary, customers preference for self-checkout systems hurdles the growth of Asia Pacific 2D barcode reader market.

Based on product type, the Asia Pacific 2D barcode reader market is bifurcated into handheld and fixed. The handheld segment held 61.4% market share in 2023, amassing US$ 1065.71 million. It is projected to garner US$ 1829.39 million by 2028 to expand at 11.4% CAGR during 2023–2028.

Based on application, the Asia Pacific 2D barcode reader market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The e-commerce & retail segment held 32.5% market share in 2023, amassing US$ 564.41 million. It is projected to garner US$ 980.78 million by 2028 to expand at 11.7% CAGR during 2023–2028.

Based on country, the Asia Pacific 2D barcode reader market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific.  Our regional analysis states that China captured 26.5% market share in 2023. It was assessed at US$ 459.33million in 2023 and is likely to hit US$ 826.91 million by 2028, exhibiting a CAGR of 12.5% during the forecast period.     

Key players dominating the Asia Pacific 2D barcode reader market are Adesso Inc; Cognex Corp; Newland Auto-ID Tech Co Ltd; Honeywell International Inc; Keyence Corp; Omron Corp; Guangzhou Netum Electronic Technology Co Ltd; DataLogic Spa; Zebex Industries Inc; and Zebra Technologies Corp among others.   

• In Jan 2023, Adesso acquires Italian company WebScience.
• In Nov 2022, Cognex Launches DataMan 8700LX Handheld Barcode Reader.

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