E-commerce boom triggers Barcode Scanners and Printers market growth
email@example.com 2015-10-14 04:43:00
The unprecedented growth in E-commerce sector coupled with government's initiative to digitize Public Distribution System (PDS) and introducing barcodes to issue driving licenses, are expected to trigger the growth of India's barcode scanners and printers market with CAGR hovering around 19 % during 2015 - 2020.
According to 6Wreseach, the shipment value of Barcode scanners and printers has reached at US $ 1.48 million in the first quarter of 2014. In the scanning segment, single line Barcode Scanners has occupied around 83 % market share, the report revealed.
This expected robust growth in barcode printers and scanners market is on account of increased foothold of E-commerce companies and also government's initiatives to rid Public Distribution System (PDS) and driving license provider of corruption by introducing digital technology using barcodes.
Automotive, healthcare, pharmaceutical, E-commerce, retail, logistics and warehousing are using barcode technology in order to keep pace with the growing needs increased output and customer satisfaction. In recent times, processes with respect to inventory management and modernization of assembly lines in warehouses have also catalyzed the usage of barcode printers and scanners.
Motorola, Zebex, Zebra Technologies, Honeywell, SATO, and TVS Electronics are few of the leading players of barcode printer and scanner market which operate through respective dealer and distributor networks in India.
Last year, northern and southern regions of India had collectively represented a majority share of the barcode printers and scanners, and the same trend will continue till 2020, the report added.
The expected growth in the number of multinational logistics service providers will also trigger the growth of barcode printers and scanners market.
"The barcode scanners and printers market has witnessed some market consolidation over the last few years as the leading industry players have been increasing their focus on horizontal integration to achieve economies of scale and strengthen their product portfolio," said Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
Apart from the retail sector, Barcode Scanners are also gaining acceptance across Automobile and Healthcare sectors. In 2014, 2D Barcode Scanners had registered 7 per cent share of the market. ;However, with the development in cell phone technology, smart phones have emerged as an alternative tool for the Barcode Scanners while providing additional functionality at same cost. This will be a major challenge for the future growth of Barcode Scanner market in India.
TechSci Research is a global market research and consulting company with offices in UK, Canada and India.
- K. Ramanathan firstname.lastname@example.org
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