Mobile Phone Camera-Based Scanning Software Market is expected to reach US$ 403.01 Million by 2028

Emergence of Budget-Centric Smartphones to Provide Growth Opportunities for Mobile Phone Camera-Based Scanning Software Market during 2021–2028

According to our latest market study on “Mobile Phone Camera-Based Scanning Software Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application and Operating system,” the market is projected to reach US$ 403.01 million by 2028 from US$ 243.43 million in 2021; it is expected to grow at a CAGR of 7.5% from 2021 to 2028.

The world is witnessing a significant surge in smartphone usage. Currently, the global number of smartphone users is ~6.38 billion, i.e., 80.7% of the world’s population. In total, the number of people that own a smartphone and a feature phone is 7.10 billion, making up 89.8% of the world’s population. Therefore, having a smartphone is quite common, and any low-income group people can also buy budget-friendly smartphones. Moreover, Asia Pacific is the most rapidly growing market for mobile phones due to the availability of better telecom infrastructure and numerous budget-centric smartphones. Thus, with the growth in smartphone usage, scanning software is also increasingly being used for barcode scanning during inventory management or parcel delivery and other applications. Therefore, the emergence of budget-centric smartphones is creating more opportunities for the mobile phone camera-based scanning software market players.

The mobile phone camera-based scanning software market is segmented on the basis of application and operating system. Based on application, the market is segmented into retail, logistics, healthcare, hospitality, postal, and others. The retail segment accounted for the largest revenue share in the market in 2020. Based on operating system, the mobile phone camera based scanning software is segmented into Android and iOS. The Android segment contributed the largest share to the market in 2020. In terms of geography, the mobile phone camera-based scanning software market is primarily segmented into North America, Europe, APAC, the MEA, and SAM. North America held the largest market share in 2020, followed by Europe and APAC.

Impact of COVID-19 Pandemic on Mobile Phone Camera-Based Scanning Software Market

The COVID-19 pandemic has shaken several industries. The rapid spread of the virus compelled governments worldwide to impose strict restrictions on vehicles and humans movement in early 2020. Travel bans, mass lockdowns, and business shutdowns have resulted in the lowered production of commodities, goods, and services in the last one and a half years. In 2020, apart from the continuous rise in COVID-19 cases, the manufacturing sector witnessed severe losses due to the temporary shutdown of factories and low production volumes, which harmed the progress of the logistics sector to a great extent. Physical distancing measures led logistics service providers to limit their operations, negatively impacting the mobile phone camera-based scanning software market during 2020. However, in 2021, with the gradual relaxations in lockdown and surge in vaccination processes, industries such as retail and hospitality resumed their operations, and the mobile phone camera-based scanning software market has regained momentum.

The key players operating in the market include Scandit, RIOTEC Co., Ltd., Grabba, KOAMTAC, Cognex Corporation, Datalogic S.p.A, Denso Wave Inc., Infinite Peripherals Inc., and OPTO Electronics Co., Ltd. Several other market players have been analyzed to understand the market.

Mobile Phone Camera-Based Scanning Software Market – by Region, 2020 and 2028 (%)

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Mobile Phone Camera-Based Scanning Software Market Analysis to 2028

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Mobile Phone Camera-Based Scanning Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (Retail, Logistics, Healthcare, Hospitality, Postal, and Others) and Operating System (Android and iOS)