North America Barcode Software Market
The US, Canada, and Mexico are among the major North American economies. Technological advancements trigger intense competition among various businesses due to the high spending power of populations, which enables them to spend on expensive, high-tech products. The region has well-developed retail and manufacturing sectors, along with a relatively high density of retailers, which is expected to contribute to the North American barcode software market growth. Moreover, the bolstering online retail sector is another factor fueling the adoption of non-prime VIP applications comprising thermal transfer labels and direct thermal labels, and electronic data processing (EDP) labels. The constant rise in the non-prime VIP applications of labels boosts the demand for barcode software to print highly secured labels. Furthermore, there is continuously increasing demand for barcodes across the medical device, automotive, consumer durables, and industrial labeling applications in North America. Also, accurate real-time data collection processes at high demand is a major factor driving the North America barcode software market.
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.
Strategic insights for the North America Barcode Software provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 159.37 Million |
| Market Size by 2027 | US$ 270.37 Million |
| Global CAGR (2020 - 2027) | 6.9% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Application
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Barcode Software refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The barcode software market in North America is expected to grow from US$ 159.37 million in 2019 to US$ 270.37 million by 2027; it is estimated to grow at a CAGR of 6.9% from 2020 to 2027. The barcode technology improves and enhances every aspect of the supply chain management. It makes the entire business integration process effective and smooth. The technology helps in tracking the product shipment status in negligible time, thus reducing errors in the overall process. Further, it is affordable and easy to operate. Owing to these benefits, the popularity of the use of barcode technology is increasing among enterprises, especially for supply chain management. Tracking via barcode software helps save time and money and ensures the use of accurate data for decision-making. The manual inventory management takes several hours to complete; on the other hand, barcode tagging enables tracking and analysis of shipment in real time, making the overall supply chain operations smooth and fast. Dijon University Hospital implemented GS1 barcodes to ensure greater supply chain security and efficiency. Moreover, these barcodes have helped the hospital to operate more smoothly and efficiently, along with reducing errors completely. Similarly, Zebra Technologies Corporation in one its report cited a case of a baking company that reduced its inventory and distribution costs by USD 3 million in the first year after implementing an inventory tracking system.
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.
A few major primary and secondary sources referred to for preparing this report on the barcode software market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
The List of Companies - North America Barcode Software Market
The North America Barcode Software Market is valued at US$ 159.37 Million in 2019, it is projected to reach US$ 270.37 Million by 2027.
As per our report North America Barcode Software Market, the market size is valued at US$ 159.37 Million in 2019, projecting it to reach US$ 270.37 Million by 2027. This translates to a CAGR of approximately 6.9% during the forecast period.
The North America Barcode Software 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 North America Barcode Software Market report:
The North America Barcode Software Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Barcode Software Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Barcode Software Market value chain can benefit from the information contained in a comprehensive market report.
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