The barcode software market in the MEA is expected to grow from US$ 61. 49 million in 2019 to US$ 104. 78 million by 2027; it is estimated to grow at a CAGR of 6. 9% 2019-2027. The barcode technology improves and enhances every aspect of supply chain management.
New York, Sept. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Middle East and Africa Barcode Software Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Application and End-User" - https://www.reportlinker.com/p06103214/?utm_source=GNW
It makes the entire business integration process effective and smooth. The technology helps track product shipment status in negligible time, thus reducing errors in the overall process. Further, it is affordable and easy to operate. Owing to these benefits, the popularity of the use of barcode technology is increasing among enterprises, especially for supply chain management. Tracking via barcode software helps save time and money and provides accurate data for decision-making. The manual inventory management takes several hours to complete; on the other hand, barcode tagging enables tracking and analysis of shipment in real time, making the overall supply chain operations smooth and fast. Moreover, barcode technology also helps hospitals to operate more smoothly and efficiently, along with reducing errors completely. Similarly, Zebra Technologies Corporation, in one its reports, cited a case of a baking company that reduced its inventory and distribution costs by USD 3 million in the first year after implementing an inventory tracking system. Monitoring and capturing more information on their products allows baking companies to gain accurate and timely information of inventory. Additionally, technologically advanced barcode scanning software development kits (SDKs) being extensively used is a major factor driving the MEA barcode software market.
Based on end-user, the MEA barcode software market is segmented into BFSI, transportation and logistics, manufacturing, healthcare, retail, and others.The transportation and logistics segment is expected register the highest CAGR in the market during the forecast period.
This segment includes companies that offer transportation and shipment services to its target market.These companies require effective way of handling, monitoring, and tracking the products to enhance their overall operation.
Transportation and logistics companies have been investing in feature loaded barcode software solution.The barcode technology also helps these companies to increase the quality, speed, and accuracy of information.
The barcode technology helps in each stage of transportation, ranging from cross-docking to shipping and reverse logistics.
The MEA includes a few high-potential countries such as Saudi Arabia, the UAE, Iran, and South Africa.As per the MENA Generation 2030 report published by UNICEF, the region is anticipated to witness a transition into its most productive years during 2018–2040 owing to the growing potential of its demographic dividend, which drives the growth and development of various sectors in the region.
In addition, government initiatives such as the “Saudi Vision 2030” to boost the development of non-oil sectors, including manufacturing, healthcare, and retail, would further drive the industrial and business growth in the MEA countries.Iran, Saudi Arabia, Qatar, South Africa, and the UAE are among the worst-affected countries by the COVID outbreak in the MEA, which has hampered the economic as well as industrial growth in these countries in the past few months.
However, rise in demand for mobile-based barcoding SDKs in healthcare institutes and manufacturing companies has fueled the barcode software market growth in the MEA in the past few months. The escalating need for mobile-based barcoding SDKs in the healthcare and manufacturing sectors is mainly attributed to continuous support from the respective government to improve the overall healthcare operation.
The MEA barcode software market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the MEA barcode software market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the MEA barcode software market. Datalogic S.P.A.; DENSO ADC; Honeywell International, Inc.; NCR Corporation; and Zebra Technologies Corporation are among the key players operating in the MEA barcode software market.
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