The identification (id) barcode readers in factory automation global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Identification (ID) Barcode Readers In Factory Automation Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size -
The
identification (ID) barcode readers in the factory automation market
size have grown strongly in recent years. It will grow from $2.38
billion in 2023 to $2.56 billion in 2024 at a compound annual growth
rate (CAGR) of 7.5%. The growth in the historic period can be attributed
to improved database integration capabilities for data management,
automatic data capture and process automation, advancements in mobile
compatibility for ID barcode scanning, increasing adoption of ID barcode
reading in diverse industries, reduced errors in data entry and
record-keeping.
The identification (ID) barcode readers in the factory automation market size are expected to see strong growth in the next few years. It will grow to $3.43 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to the increasing use of image recognition applications, growing demand for precision and reliability in production, adoption of high-speed scanners for faster processing, expansion of regulatory requirements and industry standards, and increasing need for secure and tamper-resistant id verification. Major trends in the forecast period include innovation in ID barcode technology applications, compliance assurance, quality control enhancement, product innovation, and advanced barcode readers.
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Scope Of Identification (ID) Barcode Readers In Factory Automation Market
The Business Research Company's reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Identification (ID) Barcode Readers In Factory Automation Market Overview
Market Drivers -
The
increasing use of image recognition applications is expected to drive
the growth of ID barcode readers in the factory automation market going
forward. Image recognition refers to identifying and detecting objects
or features in digital images and photographs. The demand for ID barcode
readers in factory automation to enhance efficiency, traceability, and
error reduction in production and inventory management processes. Image
recognition uses ID barcode readers to quickly and accurately identify
and process information encoded in barcode images, facilitating
automated data retrieval and management. For instance, in January 2022,
according to a report published by Capital Economics, a UK-based
economics company, about 2% of businesses are testing AI, and 10% plan
to adopt AI technologies, which equals around 62,000 and 292,000
businesses, respectively. Among AI applications, data management and
analysis are the most common, used by 9% of UK firms. This is followed
by natural language processing (8%), machine learning (7%), AI hardware
(5%), and computer vision/image recognition (5%). Therefore, the
increasing use of image recognition applications drives growth in ID
barcode readers in the factory automation market.
Market Trends -
Major
companies operating in the identification (ID) barcode reader market in
the factory automation market are focusing on innovation in ID barcode
technology applications, such as compact industrial 1D code readers, to
provide reliable and high-performance barcode reading capabilities.
Compact industrial 1D code readers are barcode scanners designed for
manufacturing and logistics environments. For instance, in January 2024,
Datalogic S.p.A., an Italy-based industrial automation company,
launched the Blade Series, a new line of compact industrial 1D code
readers designed to provide cutting-edge traceability for the packaging
and intralogistics industries. It features a solid-state 1920x128 pixel
camera sensor, advanced lighting, and high-precision 1-dimensional
decoding. It consistently detects labels despite discoloration, damage,
wear, or low quality.
The identification (ID) barcode readers in factory automation market covered in this report is segmented –
1)
By Technology: Quick Response (QR) Or Barcode Recognition, Object
Recognition, Facial Recognition, Pattern Recognition, Optical Character
Recognition
2) By Offering: Hardware, Software, Services
3) By Deployment: Cloud, On-Premise
4) By Application: Augmented Reality, Scanning And Imaging, Security And Surveillance, Marketing And Advertising, Image Search
5)
By End Use: Automobile And Transportation, Banking, Financial Services,
And Insurance (BFSI), Government, Healthcare, Information Technology
(IT) And Telecom, Media And Entertainment, Retail And E-Commerce, Other
End Uses
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Regional Insights -
North
America was the largest region in the identification (ID) barcode
readers in the factory automation market in 2023. The regions covered in
the identification (ID) barcode readers in factory automation market
report are Asia-Pacific, Western Europe, Eastern Europe, North America,
South America, Middle East, Africa.
Key Companies -
Major
companies operating in the identification (ID) barcode readers in
factory automation market are Hitachi Ltd., Siemens AG, Qualcomm
Technologies Inc., Mitsubishi Electric Corporation, Schneider Electric
SE, Honeywell International Inc., ABB Ltd., Toshiba Corporation, Ricoh
Company Ltd., Emerson Electric Co., Rockwell Automation Inc., Keyence
Corporation, Omron Electronics LLC, Zebra Technologies, Cognex
Corporation, Data Logic S.p.A, Jadak LLC, ECOM Instruments GmbH,
Clarifai Inc., Wikitude GmbH, Custom Sensors Inc
Table of Contents
1. Executive Summary
2. Identification (ID) Barcode Readers In Factory Automation Market Report Structure
3. Identification (ID) Barcode Readers In Factory Automation Market Trends And Strategies
4. Identification (ID) Barcode Readers In Factory Automation Market – Macro Economic Scenario
5. Identification (ID) Barcode Readers In Factory Automation Market Size And Growth
…..
27. Identification (ID) Barcode Readers In Factory Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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