Barcode Verifiers Market by Products, End User, Global Forecast to 2026

Barcode Verifiers Market by Products, End User, Global
Forecast to 2026
Barcode Verifiers Market research provides industry analysis by
type, manufacturer, application along with key factors influencing
the growth of the market which include growth drivers, restraints,
opportunities and challenges, strategically profile key players and
comprehensively
analyze
their
market
share
and
core
competencies.
Barcode verifiers are electronic devices used to measure the quality of a 1D, 2D, and Direct Part
Mark (DPM) codes. Barcode verifier reads the barcode and performs a series of tests to examine
the scan ability and quality of the barcode in comparison to the industry specification and
standards. Any trade partner in the supply chain can use the barcode verifier to test the quality
of the barcode.
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“Increasing growth of the consumer goods sector is expected to fuel growth of the
global barcode verifiers market”
Barcodes have high application in the consumer goods sector. Barcode provides and
unambiguous and universal identification for products. A barcode printed on the primary
packaging of consumer goods provides important information about the product. There are many
advantages associated with using barcodes for consumer goods such as that they allow faster
listing of articles, facilitates accurate and faster billing at counters, increases visibility of products
online, and others. Barcode verifiers are used to ensure that the barcode is easily interpreted by
any intermediate reader in the supply chain with low rate of error. A retailer can impose heavy
penalties for barcodes that are not in accordance with the standards. Such penalties can affect
the revenue generated for manufacturers by 2% to 10% cent. Thus, it is very important that
barcodes comply with the predefined international standards. Measuring accuracy of a barcode is
specified by some standards.
ISO/IEC 15426-1 (linear) or ISO/IEC 15426-2 (2D) is the current international barcode quality
specification standard. This standard defines the quality requirements for barcodes and matrix
codes. Verification process validates a barcode with respect to the specific standards and shows
that barcode has been properly verified so that the products can be forwarded further in the
supply chain for distribution. Thus, using barcode verifiers offers smooth functioning of supply
chain in the retail sector. The barcode verifiers market growth is driven by growth in the retail
sector. This is owing to rise in consumption of consumer goods. For instance, according to the
World Bank Statistics, the global consumption of consumer goods reached to US$ 43.87 Trillion in
2016, up from US$ 42.794 Trillion in 2012. Thus, growth of the consumer goods sector will
significantly fuel growth of the market for barcode verifiers.
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Barcode Verifiers Market: Regional Insight
The barcode verifiers market is segmented on the basis of region into six regions namely, North
America, Europe, Asia Pacific, Latin America, Middle East, and Africa.North America is expected
to be the largest region in the global barcode verifiers market over the forecast period. This is
owing to high growth of the consumer goods sector in the region. Barcode verifiers are majorly
used in the retail industry. Increasing growth of the consumer goods sector in the U.S. is
expected to be one of the major driving factors for growth of the market. For instance, according
to United States Census Bureau’s Annual Retail Trade Survey, the total sales of consumer goods
through retail sector reached to US$ 4,856,334 Million in 2016 from US$ 4,725,993 Million in
2015. Thus, for smooth functioning of such a huge retail market demand for barcode verifiers is
also expected to increase.
Asia Pacific is a fastest growing market for barcode verifiers, over the forecast period. This is
owing to growth in the retail sector in the region. Major growth engines in the region include
emerging economies such as China, India, and Japan. Furthermore, the retail industry in these
countries is also witnessing high growth. For instance, according to India Brand Equity
Foundation (IBEF), in June 2018, FMCG is the 4th largest sector of the Indian economy. The retail
sector in India is expected to grow to US$ 1.1 trillion by 2020 up from US$ 672 billion in 2016.
Moreover, China has also witnessed a significant growth in its retail sector. According to the
National Bureau of Statistics of China, in May 2018, the total retail sales of consumer goods
reached to US$ 467.39 Billion, which accounted for 8.5% growth as compared to 2017. Barcode
verifiers are significantly used in the retail sector for determining the quality of barcodes printed
on consumer goods. Thus, with growth in the retail sales of consumer products, demand for
barcode verifiers is also expected to increase over the forecast period.
Barcode Verifiers Market: Competitive Landscape:
Key players operating in the barcode verifiers market are Cognex Corporation, Axicon Auto ID
Ltd., Webscan, REA VERIFIER, Printronix, Digit:lPersona, AIS, Stratix Corp., Microscan, SSE
Technologies, Oriental Speedv Code Tech &DEV, and RJS Technologies.
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Barcodes have high application in the consumer goods sector. Barcode provides and unambiguous and universal identification for products. A barcode printed on the primary packaging of consumer goods provides important information about the product. There are many advantages associated with using barcodes for consumer goods such as that they allow faster listing of articles, facilitates accurate and faster billing at counters, increases visibility of products online, and others. Barcode verifiers are used to ensure that the barcode is easily interpreted by any intermediate reader in the supply chain with low rate of error.

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