KEYENCE CORPORATION, ZEBRA TECHNOLOGIES CORP, OMRON CORPORATION, COGNEX CORPORATION, AND HONEYWELL INTERNATIONAL INC – PROMINENT MARKET PARTICIPANTS IN 2D BARCODE READER MARKET
A 2D barcode reader is a device that scans unique identification codes in black and white lines and decodes its information. The encoded data is transmitted to a system over a network. The information transmitted about the product includes its manufacturing and expiry date, batch number, etc., which helps the operator with decision-making related to inventory management. In addition, the 2D barcode is widely accepted as it helps reduce errors in data entry compared to manual data entry. It captures the data faster and more efficiently and reduces the possible risk of data errors compared to manual methods. In addition, 2D barcode readers are widely used in the retail industry as a solution for rapidly scanning products, thus enabling fast checkouts at retail stores. Further, it provides quick tracking of goods and products at the warehouse and monitors the movement of goods in the supply chain, which is increasing the demand for 2D barcode readers in the logistics sector.
With the rapid growth in several industries such as retail, e-commerce, and warehouse, the demand for 2D barcode readers is also increasing. A 2D barcode reader helps maintain product information and manage the inventory; hence, several industries are adopting these readers to boost the productivity and workflow of business operations. To cater to such demand, various 2D barcode reader market players are taking strategic initiatives such as mergers and acquisitions to leverage each other’s technologies and explore each other’s audience, leading to increased sales and brand value.