At 4.1% CAGR, the South America 2D Barcode Reader Market is projected to be worth US$ 408.43 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the South America 2D barcode reader market was valued at US$ 334.09 million in 2023 and is expected to reach US$ 408.43 million by 2028, registering a CAGR of 4.1% from 2023 to 2028. New product launches and growth of logistics and e-commerce sectors are the critical factors attributed to the South America 2D barcode reader market expansion.

With the rise in industrialization several industries such as healthcare, warehousing, automotive, and retail are adopting various solutions to simplify their workflow and reduce their downtime to stand out in the market. A 2D barcode reader is widely used to encode product information stored in the barcodes. It helps reduce error rates and improve operational efficiency in end-user industries. In addition, 2D readers can store more data compared to 1D readers, which enables fast data access. Due to all these advantages, the demand for 2D barcode readers is increasing. Hence, market players are launching new products with additional features to attract potential customers of 2D barcode readers and increase their revenues and sales.

A few examples are mentioned below:

• In September 2020, Omron Corporation launched V410-H handheld barcode reader with an extended read range of 1.1 m. This product can be used in industrial and life sciences sectors.
• In October 2020, RTscan unveiled RTX200: NFC barcode Reader with a Wi-Fi interface. This reader can read 1D/2D barcodes and support Wi-Fi communications.
• In October 2022, Socket Mobile launched a line of 2D barcode readers: SocketScan S820, DuraScan D820, and DuraSled DS820. SocketScan S820 works with Bluetooth wireless technology that can be connected to mobiles. DuraScan D820 is built with an extra rubberized material to increase the product's durability and provide drop protection. It can be used it the retail store at point of sale, inventory management, and others. DuraSled DS820 is ideal for applications such as asset tracking and delivery services.

New product launches with innovative features attract potential buyers, propelling the South America 2D barcode reader market growth.

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

Based on product type, the South America 2D barcode reader market is bifurcated into handheld and fixed. The handheld segment held 58.8% market share in 2023, amassing 196.38 million. It is projected to garner US$ 247.36 million by 2028 to expand at 4.7% CAGR during 2023–2028.

Based on application, the South America 2D barcode reader market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The e-commerce & retail segment held 31.7% market share in 2023, amassing US$ 106.07 million. It is projected to garner US$ 135.84 million by 2028 to expand at 5.1% CAGR during 2023–2028.

Based on country, the South America 2D barcode reader market has been categorized into the Brazil, Argentina, and Rest of South America.  Our regional analysis states that Brazil captured 49.7% share in South America 2D barcode reader market in 2023. It was assessed at US$ 166.08 million in 2023 and is likely to hit US$ 209.77 million by 2028, exhibiting a CAGR of 4.8% during the forecast period.  

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

• In Jan 2023, Cognex DataMan 580 Barcode Reader Boosts Throughput for Logistics Tunnels
• In March 2023, Newland AIDC has launched BS80, BS50, and BS30.

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