Future Trends in Barcode Technology

 In Barcode Advice

Barcodes remain relevant because they adapt, work well with other technologies and are inexpensive. Previous articles discuss this in depth. What metrics support this? The growth in sales of barcode scanners is one such metric.

Barcode Scanner Sales Forecast

MarkWide Research of Torrance, California projects the scanner sales to double by 2034, from $7.91 billion in 2024 to $14.88 billion. Increasing demand for efficiency, transparency and sustainability are driving this growth.

Industries with similar growth forecasts, including healthcare, logistics, retail, agriculture, manufacturing and financial services. Unsurprisingly, barcodes are key to this growth in many of them.
Barcodes are a 50-year-old technology. How have they continued to contribute as other technologies have rapidly advanced? Once again, the answer is adaptability: barcode technology has also developed. Barcodes streamline automation and reduce errors. They integrate easily into digitized processes.

The Death of Barcodes: E-commerce and AI

When e-commerce began to erode retail, the end of barcodes was widely predicted. However, barcodes have proven to be essential for automating processes, reducing errors, and supporting seamless customer experiences.
A similar false prediction arose with AI. But barcode technology integrated with AI revolutionizes inventory management by making damaged or partially obscured barcodes readable while ensuring data integrity.

The increasing emphasis on real-time data depends heavily on barcodes because that is what they do: instantly, accurately, and cheaply. According to Hector Asset Manager of Quebec, Canada, the trends surrounding barcodes are not only enhancing their traditional applications but also redefining the future of inventory management.

Research Analyzing Agricultural Grains And seeds In The Laboratory

Centers of Barcode Growth

Industries that are experiencing similar growth forecasts include:
• Healthcare: barcodes work well with electronic medical records, inventory and laboratory management, and patient safety
• Logistics and Supply Chain: barcodes provide real-time tracking, enabling visibility and chain of custody
• Agriculture: barcodes track crop lifestyles, enhancing the efficiency of field management. Barcodes help monitor livestock health, location and history
• Financial Services: Barcodes enhance the safety and convenience of mobile payment systems. They also support document storage and retrieval and secure customer identification on customer cards and documents, enhancing the security of sensitive customer data.

What’s Next?

Where will barcodes be adopted next? It’s anybody’s guess. What are your thoughts? Contact us here.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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