Market Overview:
The global QR code recognition market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing adoption of QR codes for various applications such as payments, electronic invoicing, scan codes for travel, scan code withdrawals, and login among others. Additionally, the growing demand for mobile commerce and rising penetration of smartphones are also contributing to the growth of this market. Based on type, the global QR code recognition market is segmented into coded data structure, national unified url data structure (NUUD), vendor custom url data structure (VCUD), and other types. The coded data structure segment is expected to hold a major share in this market owing to its ability to store large amounts of information as compared with other types of QR codes.
Product Definition:
A QR code is a two-dimensional barcode that can be read by smartphones and other devices. The code consists of black squares arranged in a square grid on a white background. When scanned, the code opens a web page, email address, text message or other digital content.
Coded Data Structure:
Codes or bar-coding is a system for the representation of information that can be printed, stored or transmitted by means of symbols and patterns. In the case of text codes, alphanumeric characters are used to represent specific information. Coded data structure is used in various applications such as product identification, time stamp & expiration date and error detection & correction.
National Unified Url Data Structure:
The National unified url data structure is a unique way of representing web addresses. It was designed by the Chinese government to tackle problems related to internet filtering. The system was launched in 2006 and it has been used ever since; hence, it has become quite popular among internet service providers (ISPs) as well as users.
Application Insights:
The payment application segment dominated the market in 2017 and is expected to continue its dominance over the forecast period. The growing adoption of QR codes for mobile payments across various industries such as retail, e-commerce, hospitality and transportation is anticipated to drive growth over the forecast period. Furthermore, increasing government initiatives for promoting mobile payments are further expected to propel industry growth.
The electronic invoice segment is also estimated to witness significant growth during the study period owing to increased use of QR codes in business transactions including product purchase from a store or online and payment processing between businesses. In addition, companies such as TCS Corporation have implemented advanced technologies such as artificial intelligence (AI) for scanning QR codes that can recognize data structures thereby saving time while scanning multiple codes at a time on different types of devices. This technology helps avoid human errors while deciphering code data thus boosting overall industry development over the coming years.
Regional Analysis:
The Asia Pacific region dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth can be attributed to increasing adoption of mobile payments across various countries such as China, India, Japan, and Australia. Moreover, growing penetration of smartphones coupled with rising demand for online shopping is anticipated to drive regional QR code recognition market growth during the forecast period.
North America region accounted for a significant share in terms of revenue generated from scanning codes owing to high usage in banking transactions along with other applications such as login & logout codes used by websites or payment transaction between two parties using smartphone apps. Furthermore, presence of prominent players operating retail stores or petrol stations that use scan-code based technologies would also contribute toward regional growth over the next eight years.
Growth Factors:
- Increasing demand for QR code recognition in retail sector for tracking and managing inventory
- Proliferation of smartphones and growing adoption of mobile commerce
- Rising demand for automated data collection and analysis across industries
- Growing popularity of augmented reality and its potential applications in QR code recognition market
- Increasing number of government initiatives to promote digitization across various sectors
Scope Of The Report
Report Attributes
Report Details
Report Title
QR Code Recognition Market Research Report
By Type
Coded Data Structure, National Unified Url Data Structure, Vendor Custom Url Data Structure, Other
By Application
Payment, Electronic Invoice, Scan Code for Travel, Scan Code Withdrawals, Scan Code for Login, Other
By Companies
Newland, Sinodata, THUNISOFT, MINDEO, SZZT, Visualead, DENSO
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
180
Number of Tables & Figures
126
Customization Available
Yes, the report can be customized as per your need.
Global QR Code Recognition Market Report Segments:
The global QR Code Recognition market is segmented on the basis of:
Types
Coded Data Structure, National Unified Url Data Structure, Vendor Custom Url Data Structure, Other
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Payment, Electronic Invoice, Scan Code for Travel, Scan Code Withdrawals, Scan Code for Login, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Newland
- Sinodata
- THUNISOFT
- MINDEO
- SZZT
- Visualead
- DENSO
Highlights of The QR Code Recognition Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Coded Data Structure
- National Unified Url Data Structure
- Vendor Custom Url Data Structure
- Other
- By Application:
- Payment
- Electronic Invoice
- Scan Code for Travel
- Scan Code Withdrawals
- Scan Code for Login
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the QR Code Recognition Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
QR Code Recognition is the ability of a machine to read and understand QR Codes.
Some of the major players in the qr code recognition market are Newland, Sinodata, THUNISOFT, MINDEO, SZZT, Visualead, DENSO.
The qr code recognition market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 QR Code Recognition Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 QR Code Recognition Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 QR Code Recognition Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the QR Code Recognition Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global QR Code Recognition Market Size & Forecast, 2018-2028
4.5.1 QR Code Recognition Market Size and Y-o-Y Growth
4.5.2 QR Code Recognition Market Absolute $ Opportunity
Chapter 5 Global QR Code Recognition Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 QR Code Recognition Market Size Forecast by Type
5.2.1 Coded Data Structure
5.2.2 National Unified Url Data Structure
5.2.3 Vendor Custom Url Data Structure
5.2.4 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global QR Code Recognition Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 QR Code Recognition Market Size Forecast by Applications
6.2.1 Payment
6.2.2 Electronic Invoice
6.2.3 Scan Code for Travel
6.2.4 Scan Code Withdrawals
6.2.5 Scan Code for Login
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global QR Code Recognition Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 QR Code Recognition Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America QR Code Recognition Analysis and Forecast
9.1 Introduction
9.2 North America QR Code Recognition Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America QR Code Recognition Market Size Forecast by Type
9.6.1 Coded Data Structure
9.6.2 National Unified Url Data Structure
9.6.3 Vendor Custom Url Data Structure
9.6.4 Other
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America QR Code Recognition Market Size Forecast by Applications
9.10.1 Payment
9.10.2 Electronic Invoice
9.10.3 Scan Code for Travel
9.10.4 Scan Code Withdrawals
9.10.5 Scan Code for Login
9.10.6 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe QR Code Recognition Analysis and Forecast
10.1 Introduction
10.2 Europe QR Code Recognition Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe QR Code Recognition Market Size Forecast by Type
10.6.1 Coded Data Structure
10.6.2 National Unified Url Data Structure
10.6.3 Vendor Custom Url Data Structure
10.6.4 Other
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe QR Code Recognition Market Size Forecast by Applications
10.10.1 Payment
10.10.2 Electronic Invoice
10.10.3 Scan Code for Travel
10.10.4 Scan Code Withdrawals
10.10.5 Scan Code for Login
10.10.6 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific QR Code Recognition Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific QR Code Recognition Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific QR Code Recognition Market Size Forecast by Type
11.6.1 Coded Data Structure
11.6.2 National Unified Url Data Structure
11.6.3 Vendor Custom Url Data Structure
11.6.4 Other
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific QR Code Recognition Market Size Forecast by Applications
11.10.1 Payment
11.10.2 Electronic Invoice
11.10.3 Scan Code for Travel
11.10.4 Scan Code Withdrawals
11.10.5 Scan Code for Login
11.10.6 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America QR Code Recognition Analysis and Forecast
12.1 Introduction
12.2 Latin America QR Code Recognition Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America QR Code Recognition Market Size Forecast by Type
12.6.1 Coded Data Structure
12.6.2 National Unified Url Data Structure
12.6.3 Vendor Custom Url Data Structure
12.6.4 Other
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America QR Code Recognition Market Size Forecast by Applications
12.10.1 Payment
12.10.2 Electronic Invoice
12.10.3 Scan Code for Travel
12.10.4 Scan Code Withdrawals
12.10.5 Scan Code for Login
12.10.6 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) QR Code Recognition Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) QR Code Recognition Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) QR Code Recognition Market Size Forecast by Type
13.6.1 Coded Data Structure
13.6.2 National Unified Url Data Structure
13.6.3 Vendor Custom Url Data Structure
13.6.4 Other
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) QR Code Recognition Market Size Forecast by Applications
13.10.1 Payment
13.10.2 Electronic Invoice
13.10.3 Scan Code for Travel
13.10.4 Scan Code Withdrawals
13.10.5 Scan Code for Login
13.10.6 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 QR Code Recognition Market: Competitive Dashboard
14.2 Global QR Code Recognition Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Newland
14.3.2 Sinodata
14.3.3 THUNISOFT
14.3.4 MINDEO
14.3.5 SZZT
14.3.6 Visualead
14.3.7 DENSO
