Use of Barcode Software Rising in Transportation & Logistics to Improve Overall Operational Efficiency: Fact.MR Report
Use of Barcode Software Rising in Transportation & Logistics to Improve Overall Operational Efficiency: Fact.MR Report
A recently updated industry analysis published by Fact.MR, a market research and competitive intelligence provider, reveals that the global barcode software market is anticipated to reach a value of US$ 836.3 million in 2024. Worldwide demand for barcode software is predicted to increase at a CAGR of 6% from 2024 to 2034.
The growing use of barcode software solutions in transportation & logistics is attributed to their ability to offer real-time insights about content as well as the location of shipments. Ensured timely delivery, devising more effective routes, and allocating judicious resources are possible with the use of barcode software. Increased use of this software is assisting in the effectiveness, visibility, and control of operations in the logistics sector.
Expanding ICT (information & communication technology) companies in East Asia is generating high requirements for barcode software solutions for their assistance in improved operation efficiency. Several companies are developing customized barcode software modified according to the requirements of specific end-use industries such as retail, BFSI, manufacturing, and healthcare.
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Key Takeaway from the Market Study:
“Rising preference for barcode software by logistics providers and retailers is owing to its ability to streamline operations, thereby enabling companies to enhance their operational efficiency and cater to growing online product demand,”says a Fact.MR analyst.
Barcode Software Preferred in Retail Sector in Japan for Efficient Inventory Management
Demand for barcode software in Japan is projected to increase at 7.4% CAGR and reach a market value of US$ 113.6 million by the end of 2034. Companies selling their products in Japan must use a barcode for product information, which further helps in effective retail operations. These services minimize the requirements for manual entry of any products, thereby reducing the chances of errors. Moreover, reduced costs, minimized chances of errors, improved efficiency, and inventory tracking are some other advantages of using barcode software.
Key Market Players:
Leading providers of barcode software solutions are Archon Systems Inc., General Data Company Inc., Bluebird Inc., ZEBEX Industries Inc., Britecheck, Dynamic Systems Inc., Zebra Technologies Corporation, Cvision Technologies Inc., NCR Corporation, Datalogic S. p. A., Honeywell International Inc., Denso ADC, and TEKLYNX.
Barcode Software Industry News:
Leading companies in the barcode software industry are actively focused on delivering high-quality products and innovating new solutions to expand their market presence and maintain a competitive edge.
For example, General Data Company, Inc., a key player in barcode software solutions, provides advanced solutions for prime label packaging in the food and consumer goods sectors while continuously strengthening its product portfolio.
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More Valuable Insightson Offer
Fact.MR, in its new offering, presents an unbiased analysis of the barcode software market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on deployment (on-premise, cloud-based), end user (banking, financial institutions, & insurance (BFSI), transportation & logistics, manufacturing, healthcare, retail), and application (package tracking, employee attendance & time tracking, asset management), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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Barcode software is a tool used to create, read, and manage barcodes, which are graphical representations of data that can be scanned to track products and inventory.
Logistics refers to the detailed coordination of complex operations involving people, facilities, and supplies, particularly in the transportation and storage of goods.
ICT stands for Information and Communication Technology, which encompasses all technologies used to handle telecommunications, broadcast media, intelligent building management systems, and audio-visual processing and transmission systems.
CAGR stands for Compound Annual Growth Rate, which is the rate of return (growth) that would be required for an investment to grow from its beginning balance to its ending balance, assuming profits are reinvested.
Operational efficiency refers to the ability of an organization to deliver products or services in the most cost-effective manner without compromising quality.
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