Handheld Scanners: Solid Growth; Still Room For More
Amid a turbulent world economy, the handheld bar code scanner market continued to exhibit solid growth in all vertical markets and across all regions.
"While the handheld scanner, like many other AIDC technologies, continued to move toward commoditization last year, the handheld scanner industry continued to exhibit strong growth in 2007. In fact, the falling price of handheld scanner hardware actually opened opportunities among less-penetrated bar code end-user populations, compensating somewhat for an undulating global economy," Kevin M. Permenter, Analyst of VDC's AIDC Practice.
This resiliency is due, in part, to the proliferation of handheld scanners into new and interesting markets within the health care and commercial services sectors. While these sectors currently represent only $123 million of the handheld bar code market, these markets are expected to collectively grow over 9% through 2012, approaching $190 million.
Handheld bar code scanner adoption within the health care sector continues to be driven by rising costs (i.e., insurance) and the need to reduce medical errors. The benefits to these facilities include a significant decrease in shrinkage, improved asset utilization and management, less budget strains, improved operational efficiencies and a sharp decrease of medical errors. Continually in the public ‘spotlight,' health care facilities are increasingly turning to lightweight handheld bar code technologies to resolve many of their issues.
Within the commercial sector, handheld scanners are utilized to increase productivity and efficiency in a variety of subverticals such as legal services, educational institutions, and hospitality. For example, many legal firms now use PDF417 2D bar codes to track document chain of custody in order to meet tightening mandates. In addition, public schools and universities benefit from bar code's ability to track student attendance and spending via bar code scanners. Meanwhile, entertainment organizations such as casinos, hotels, and stadiums utilize handheld scanners and 2D bar codes to track inventory, expedite access, reduce paper-ticketing cost and curb counterfeiting for patrons.
About VDC
Venture Development Corporation (VDC) is a technology market research and strategy consulting firm that advises clients
in a number of industrial, embedded, component, retail automation, RFID, AIDC, datacom/telecom, and defense markets.
Using rigorous primary research and analysis techniques, the firm helps its clients identify, plan for, and capitalize on
current and emerging market opportunities. We strive to deliver exceptional value to our clients by leveraging the
considerable technical, operational, educational and professional experience of our research and consulting staff. During
our nearly four decades of ongoing operation, we have had the pleasure of serving most of the world's leading technology
companies, many high-profile start-ups, and numerous blue-chip early and later stage investors. Our products and
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For further information about VDC's 2008 AIDC Global Industry Business Planning Service, contact: Kevin M. Permenter, Analyst, AIDC Practice, 508.653.9000 ext. 131, kpermenter@vdc-corp.com
SOURCE: Venture Development Corporation