North America 2D Barcode Reader Market Forecast to 2028 -Regional Analysis

The North America 2D barcode reader market is expected to grow from US$ 3,069.83 million in 2023 to US$ 4,814.95 million by 2028. It is estimated to grow at a CAGR of 9.4% from 2023 to 2028.

Growth of Logistics and E-Commerce Sector is Fueling North America 2D barcode reader market

Growth in consumer disposable income has changed their lifestyle and purchasing patterns. Consumers prefer to shop online as it offers a wide range of products and saves time and money compared to brick-and-mortar stores. In addition, the increasing penetration of the internet and smartphones has further boosted the online shopping market. These factors have led to the growth of the e-commerce sector. Further, the increasing e-commerce sector is boosting the transportation of goods. This is positively influencing activities in the warehouses and goods supply chain, further propelling the growth of the logistics sector.

A 2D barcode reader plays a vital role in supporting the increasing e-commerce sector by managing the increased amount of goods and their information. In the supply chain networks, tracking product and sales information in real-time helps deliver the goods on time to the customers, which demands a 2D barcode reader to maintain the sales information and for better inventory management. Every product has a unique identification code that stores its information which can be accessed with the help of a 2D barcode reader. In warehouses and wholesale markets, using 2D barcode readers can help reduce data entry and increase the accuracy of the data, making it easier to maintain the inventory and track product information. It offers more flexibility and productivity in the e-commerce and logistics businesses. Thus, the growth of e-commerce and logistics sectors propels the 2D barcode reader market growth.

North America 2D Barcode Reader Market Overview

The US, Canada, and Mexico are among the key countries in North America. The continuously evolving manufacturing industry remains the major factor driving prosperity, jobs, and innovation, as the region is a hub for technological development. In January 2021, US President announced the plan to strengthen the manufacturing sector in the US under “Made in America” initiative, which focused on establishing technologically advanced and automated manufacturing sectors. Under this initiative, an investment of US$ 300 billion was made for the R&D and inclusion of advanced technologies to boost the country's production output. These technological advancements and automation can act as a catalyst for the US economy. Therefore, the rise in automation in the manufacturing sector in the region is expected to increase the demand for 2D barcode readers, along with a surge in the use of machines and systems to replace manual tasks. A 2D barcode reader helps track the product's information through the manufacturing process, which propels its demand in the manufacturing sector and fuels the 2D barcode reader market growth in North America.

Further, the automotive, e-commerce, retail, pharmaceutical, and logistics industries generate high demand for 2D barcode readers in North America. For instance, according to the US Department of Commerce, the country witnessed the highest ever Q4 e-commerce sales in the Q4 of 2022 compared to Q4 of 2021. In addition, as per International Trade Administration, in 2022, ~75% of the total population in Canada were e-commerce users, which is expected to reach 77.6% by 2025. There is an increase in the number of Canadians shopping online, contributing to the country's increased e-commerce activities. Thus, such rising e-commerce sales in North America create opportunities for the growth of the 2D barcode reader market.

Moreover, various 2D barcode reader market players such as Adesso Inc, Cognex Corp, Honeywell International Inc, OMRON Corp, and Zebra Technologies Corp in North America are focused on developing new products to cater to rising product demand in the region. For instance, in March 2023, Cognex Corp launched DataMan 282 fixed-mount barcode reader with additional lighting components which enhance direct-part mark (DPM) code reading. Also, in September 2020, Omron launched V410-H handheld barcode reader for lifesciences and industrial applications. Such product development and a large presence of players are a few factors that contribute to the growing demand for 2D barcode readers and propel the 2D barcode reader market in the region.

Exhibit: North America 2D Barcode Reader Market Revenue and Forecast to 2028 (US$ Million)

North America 2D Barcode Reader Market Segmentation

The North America 2D barcode reader market is segmented into product type, application, and country. Based on product type, the market is bifurcated into handheld and fixed. The handheld segment held a larger market share in 2023

Based on application, the market is segmented into warehousing & logistics, pharmaceuticals, e-commerce & retail, and others. The e-commerce & retail held the largest market share in in 2023.

Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2023.

Adesso Inc; Cognex Corp; Newland Auto-ID Tech Co Ltd; Honeywell International Inc; Keyence Corp; Omron Corp; DataLogic Spa; and Zebra Technologies Corp are the leading companies operating in the 2D barcode reader market in the region.