Barcode Verifiers Market Trends, Drivers, Trade Analysis, Challenges and Key Players
Market insights:
The adoption rate of barcode verifiers in different industries - such as pharmaceuticals, logistics, healthcare, supply chain inventory, retail, and automotive - in India is expected to expand at an approximate rate of 33% in the next five years. Based on technology, barcode verifiers can be segmented into barcode verifiers with camera-based readers, charge-coupled device readers, laser scanners, omnidirectional barcode scanners, pen type readers, radio-frequency identification (RFID) readers, and smartphone-based scanners. Depending on the type, barcode verifiers are categorized into rugged barcode scanners and non-rugged barcode scanners. Out of the different types of barcode verifiers, rugged barcode scanners are the ones most widely used across various industries. Among the major players, Zebra Technologies, Honeywell, SATO, Argox, and TVS Electronics acquired a share of more than 75% in the barcode verifiers market in India.
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Export-import:
In India, both the export and import of barcode scanners have increased between FY 2014 and FY 2018, in terms of value and volume. The largest export destination of Indian barcode scanners is France. Value-wise, India has recorded the highest import of barcode scanners from China; volume-wise, the maximum number of barcode scanners have been imported from Taiwan.
Market trends:
• RFID technology has evolved as a substitute for barcode technology for identifying and locating objects. • Two-dimensional (2D) barcodes and barcode scanners are the next generation of barcodes, since they are technologically more advanced than 1D bar codes. • Developers have started designing smarter barcodes so that authorized individuals can retrieve the barcode data, while ensuring consumer protection.
Key growth driver of the market:
Currently, a number of industries, like retail, healthcare, aviation baggage, logistics and supply chain inventory, and automotive, use barcode verifiers for collating and computing the data which help them in inventory management and in keeping track of sales figures. This, in turn, is driving the growth of the barcode verifier market in India.
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Key deterrents to the growth of the market:
Unreadable barcodes (owing to low contrast prints, and dead zone violation) can cause problems in the scanning process. Malfunctioning of verifiers and their inability to read the SKU codes of products result in stained seller-buyer relationships.
Companies covered:
• Bar Code India Limited • Bartronics India Limited • Honeywell Automation India Limited • Best IT World (India) Private Limited (iBall) • Intex Technologies India Limited • Pegasus Technologies Private Limited • SATO Argox India Private Limited • TVS Electronics Limited
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