Barcode Readers Market: Key Business Opportunities Along With Potential Challenges 2020-2030

Barcode Technology Helps Track Medical Device Inventory amidst COVID-19 Outbreak

Hospitals are using the barcode technology to track the inventory of medical devices amidst the ongoing COVID-19 (coronavirus) outbreak. Since healthcare facilities in Brazil, India, Russia, and the U.S. are overwhelmed with the growing number of active COVID-19 cases, companies in the barcode readers market are helping healthcare workers manage their supplies and capital equipment with the help of the barcode technology. There is a rising need for structured data to manage the medical devices inventory, which is being made possible with the help of barcode readers. Even the National Health Service (NHS) in the U.K. is recommending the barcode technology to optimize patient safety amidst the pandemic.

Medical device suppliers are preparing product data in order to adhere to the procurement contract standards set by government health service organizations. Hence, manufacturers in the barcode readers market are helping these suppliers to have a structured data in place.

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Proliferation of AR Sparks Innovation in Hands-free Scanners with Digital Eyewear

Hands-free scanners with digital eyewear have become a game changer for end users in retail and logistics sectors. Scandit – a provider of barcode scanning software and technology solutions has introduced wearable devices equipped with barcode scanning and helps deliver real-time feedback that helps users to upgrade their business operations. Innovative wearable devices are contributing toward favorable growth of the barcode readers market, where the market is projected to reach US$ 10.1 Bn by 2030.

The proliferation of augmented reality in digital eyewear barcode readers is revolutionizing the product scanning technology. Wearable scanning devices hold promising potentials in replacing expensive hardware OEM scan engines. Simple and fast software integration is the key to turn any device with a camera into a powerful barcode reader.

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Innovative Use of Barcode Technology in Recycling Bolsters Market Growth

The barcode technology is being used in several end markets such as healthcare, government, manufacturing, business, etc. Barcodes are an ever-changing technology, which is being used in innovative ways such as in recycling, shopping, and even rainforest logging. The New York-based non-profit organization Recyclebank is increasing its efforts to apply barcodes on recycling bins to reward individuals with incentives-based recycling. Thus, companies in the barcode readers market can eye opportunities in everyday green initiatives to broaden their revenue streams.

In the Republic of Liberia, illegal logging of rainforest trees is a serious issue. Hence, manufacturers in the barcode readers market are increasing their production capabilities to produce wireless devices that can help manage the growing concerns in Liberia. The manufacturers are collaborating with local authorities in Liberia to establish a national timber-tracking system that tracks the cutting of every harvested tree and log right from its origin to its final destination.