Global Barcode Software Market Forecast to 2027 - COVID-19 Impact and Analysis - ResearchAndMarkets.com

The "Barcode Software Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Application; End User, and Geography" report has been added to ResearchAndMarkets.com's offering.

According to this report the global barcode software market was valued at $ 609.5 million in 2019 and is projected to reach $1,046.7 million by 2027; it is expected to grow at a CAGR of 7.1% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

Barcode is an automatic identification technology that finds applications in asset management, package tracking, time tracking, and so on. Barcode software solutions help in design and generation of barcodes, offer traceability feature, and read printed barcodes along with providing scanning abilities. The need for accurate real-time data collection process; and increased use of barcode in logistic & transportation and healthcare sector are the key factors driving the barcode software market growth.

The barcode software market is segmented on the basis of application, vertical, and geography. Based on application, the market is segmented into asset management, package tracking, employee attendance and time tracking, and others. The asset tracking segment is projected to dominate the market during the forecast period; Based on vertical, the market is segmented into manufacturing, transportation and logistics, retail, healthcare, and others. The manufacturing segment accounted for the largest revenue share in 2019, whereas the transportation and logistics segment is projected to register the fastest CAGR during the forecast period.

Impact of COVID-19 Pandemic on APAC Barcode Software Market

Asia Pacific is a fast-growing and highly dynamic region in terms of economic growth and positive industrial growth outlook. The region is characterized by the presence of developing countries such as China and India, and many South Asian countries; in these countries, technology investments in various sectors is growing at an impressive pace. The rapid growth of urbanization and industrialization, and presence of huge number of large enterprises and SMEs in APAC make it a promising market for the growth of barcode software market players. In Asia Pacific, continued adoption of barcode software was observed amid the COVID-19 pandemic, mainly to maintain and streamline the supply chain operations. Additionally, barcode software providers in the region worked uninterruptedly during the pandemic period, offering customer support and training.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global barcode software market
• Highlights key business priorities in order to assist companies to realign their business strategies
• The key findings and recommendations highlight crucial progressive industry trends in the global barcode software market, thereby allowing players across the value chain to develop effective long-term strategies
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Need for Accurate Real-Time Data Collection Processes
• Increased use of Barcodes in Logistics & Transportation and Healthcare Sectors

Restraints

• Security-Related Concerns

Opportunities

• Need of Barcode Software for Supply Chain Management

Trends

• Efficient Barcode Scanning Software Development Kits

Companies Mentioned

• Bluebird Inc.
• Datalogic S.P.A.
• Honeywell International, Inc.
• NCR Corporation
• Zebra Technologies Corporation
• Dynamic Systems Inc.
• CVISION Technologies
• DENSO ADC
• General Data Company
• Zebex Industries Inc.

For more information about this report visit https://www.researchandmarkets.com/r/6x058x

View source version on businesswire.com: https://www.businesswire.com/news/home/20210303005427/en/