The market for bar code scanners grew 17.3% annually from 2003 to 2004. New research by Venture Development Corporation, "The 2005 Global AIDC Business Planning Service," estimates the 2004 global market for hand-held and stationary bar code scanners at approximately $1.55 billion.
Vertical markets, such as retail in-store and health care services, saw robust shipments for bar code scanners due to a product upgrade cycle and regulatory mandates, respectively. In addition, Western Europe and China experienced strong growth because of strong economies and favorable importing conditions. Other factors that created a favorable atmosphere for bar coding solutions include:
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Imaging-based bar coding solutions grew without impeding the growth of laser scanners
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Traditional market sectors such as industrial manufacturing and transportation and logistics maintained healthy demand for bar coding solutions despite high saturation levels
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Indirect distribution channels such as value-added distributors continue to drive sales in multiple vertical markets
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Developing nations in Latin America and Southeast Asia are increasingly demanding bar coding solutions
All major technology segments experienced growth in 2004, with especially strong growth realized for imaging-based scanning technologies. However, laser-based bar code scanners -- especially within the retail point-of-sale (POS) sector -- improved their dominant market positioning with above-average growth.
Although the industry growth rates 2004 will level out with time, the bar code scanning industry is projected to experience healthy growth in the coming years, said VDC. Many worldwide and regional specific technology initiatives -- such as Sunrise 2005, the U.S. FDA unit-of-use standard, and the Wal-Mart RFID mandate -- are expected to drive long-term growth.
