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Based on the component, the hardware segment held over 45% of the market share in 2022. Enhanced work productivity driven by barcode printers is a significant factor propelling the hardware segment. Barcode printers streamline various processes, such as inventory management and order fulfillment, leading to improved operational efficiency.
For instance, in June 2022, TSC Printronix Auto ID unveiled the Alpha 30R barcode printer, available in two models with varying print speeds. The standard version offers speeds of up to 5 inches per second (IPS), while the premium model increases the speed to 6 IPS, enhancing worker productivity. Businesses invest in advanced barcode printers to boost their overall efficiency, boosting the demand for such hardware solutions in the market.
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Based on technology, the barcodes segment accounted for 28% of the automatic identification and data capture market share in 2022. The ease of integrating barcodes with mobile devices is a key factor propelling barcode technology within the market. Barcodes can be scanned using smartphones and tablets equipped with cameras, enabling seamless integration with mobile applications. This capability enhances mobility in various industries, allowing businesses to efficiently track inventory, manage assets, and process transactions on the go. The simplicity and versatility of barcode integration with mobile devices have significantly expanded its adoption, augmenting the market size.
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North America automatic identification and data capture market recorded more than 30% of the revenue share in 2022, propelled by continuous technological advancements. The region's strong emphasis on research & development leads to the creation of cutting-edge automatic identification and data capture solutions. Industry players invest significantly in innovations, resulting in the development of sophisticated technologies that cater to diverse market needs. These advancements, coupled with a robust infrastructure, position North America as a prominent region in automatic identification and data capture solutions, attracting businesses aiming for state-of-the-art technologies to enhance their operational efficiency and competitiveness.