About the Wearable Scanner Market
Wearable scanners are increasingly adopted in many industries, leading to higher revenues for the market. They are widely used in applications related to the healthcare, transportation and logistics, manufacturing, hospitality and entertainment, retail, and services industries because of their ability to capture data accurately and at a high speed. At present, 2D barcode scanners are increasingly being adopted, contributing significantly to the revenue of the market. Wearable scanners are increasingly being used in the warehousing and storage industry for efficient inventory management and theft protection. The healthcare industry is also adopting barcode scanners in large numbers for monitoring patients and maintaining patient records. Demand for these scanners in the retail industry is significant, and the sector is expected to boost the market growth during the forecast period.
Technavio’s analysts forecast the global wearable scanner market to grow at a CAGR of 3.9% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global wearable scanner market for 2016-2020. To calculate the market size, Technavio considers the revenue generated from the shipments of wearable scanners (ring scanners and wearable mobile computer, and wearable smart terminal) for the healthcare, transportation and logistics, manufacturing, hospitality and entertainment, retail, and services industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Wearable Scanner Market 2016-2020
Technavio recognizes the following companies as the key players in the global wearable scanner market: Generalscan, Honeywell, Shenzhen Unique Electronic, Zebra, RIOTEC, and Eurotech.
Commenting on the report, an analyst from Technavio’s team said: “One trend leading to the growth of this market is the high demand for 2D wearable scanners. 2D wearable scanners are used to scan 2D barcodes such as QR, Data Matrix, and PDF417. 2D barcodes cannot be read or scanned by traditional linear scanners as they require an imager. 2D scanners function as a camera and they lack moving parts, making them more reliable and less prone to failure.”
According to the report, the need for accuracy in data computation and storage will be a major growth driver for this market. The need for accurate data calculation and storage of information is increasing in the global wearable scanner market. A single wrong entry can lead to loss of revenue or tarnish the brand image of an organization. Being more reliable and accurate, wearable scanners are replacing manual data entry systems and are eliminating human errors. In the healthcare industry, use of barcoding technology reduced medication error rate by almost 90% from 2005-2015.
Further, the report states that one challenge that will negatively impact this market’s growth will be the increasing sales of alternatives. 2D wearable scanners are trending nowadays along with the popularity of 2D or QR codes. However, 2D wearable scanners are not the only devices that can read QR codes; the same task can be performed with smartphones. Smartphones are able to scan a QR code, and direct users to the particular uniform resource locator (URL) encoded in the code.
Generalscan, Honeywell, Shenzhen Unique Electronic, Zebra, RIOTEC, and Eurotech.
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