QR Code Labels Market Trends is Electrifying Growth Cycle: Scanova, UniTag, Visme
Published Via 11Press : According to HTF Market Intelligence, the market for QR Code Labels is expected to register a CAGR of 10.41% during the forecast period to 2029.
The development of technology has changed how customers interact with retailers and service providers, and the QR code may be a prime example.
QR Code Labels Industry Background: People’s interactions are changing as a result of technology. Technology advancements have an impact on millions of individuals. Early adoption of technology gives business organizations a competitive advantage. Adoption of new technologies offers benefits to businesses and users in the form of lower costs, greater accessibility, usability, and simplicity. The development of technology has changed how customers interact with retailers and service providers, and the QR code may be a prime example. Quick response codes are increasingly being used on internet-enabled mobile devices. In-depth, cost-effective marketing campaigns can be organized, developed, and managed with the use of QR Codes. The system detects when, where, and with what device a Dynamic Code was scanned each time. Through the use of this comprehensive data, current campaigns can be improved by measuring the effectiveness of advertising. Customers are more willing to invest in a brand they trust since the QR code offers them more information about the business and its products and fosters transparency. Long-term investments in marketing and the company are well-valued with QR codes. Many people’s daily lives are beginning to incorporate it, which will really benefit you as a business owner. The survey indicates that there is daily growth in the global market for QR Code labels. Numerous significant rivals compete with the QR Code labels company globally in this market.
| Attributes | Details |
| Study Period | 2018-2029 |
| Base Year | 2022 |
| Current Value (2022) | USD 1,454.11 Million |
| Unit | Value (USD Million) |
| Dominating Application | Computer |
| Dominating Application % Share | 11.30% |
| Key Companies Profiled | Visualead, Egoditor GmbH, Scanova, UniTag, Visme, Logaster, Delivr, QRTiger, Beaconstac, QRStuff, QR-Code Monkey
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Key Developments in the Market:
According to Type, Micro QR Code is the market leader with 11.37% of the market share in 2022, followed by QR Code with 11.08% of the market share. When it comes to market share by application, the computer segment led with 11.30% in 2022, while the smart phone segment came in second.
Geographically speaking, the QR Code Labels market has been divided into Global (North America, South America, Europe, Asia Pacific, and MEA). With a market share of 11.31% in 2022, the Asia Pacific area led all other regions. Due to the presence of important corporations and the region’s rapid technical growth, North America, on the other hand, ranked as the second-largest market. A buffer for market expansion may also be provided by the increasing demand from SMEs and different business verticals.
Major Companies Profiled in This Report
- Visualead
- Egoditor GmbH
- Scanova
- UniTag
- Visme
- Logaster
- Delivr
- QRTiger
- Beaconstac
- QRStuff
- QR-Code Monkey
QR Code Labels Market Key Business Segments
By Type
- Micro QR Code
- iQR Code
- SQRC Code
- FrameQR
- HCC2D Code
By Application
- Smartphone
- Computer
By Material
- Paper
- Plastic
- PET
- PVC
By Industry
- Pharmaceuticals
- Food Retail
Influencing Trend:
- A large portion of well-known businesses that make QR code labels concentrate on waterproof QR code labels that can withstand bad weather.
- If a business wishes to offer its customers contactless data or payment choices during bad weather, weatherproof QR code labels are a fantastic choice. Over the course of the COVID-19 pandemic, QR code labels started to appear more frequently on menus and takeaways.
- The audience will easily receive everything they need, including menus, promotions, directions, park maps, and more, in an incredibly secure format with only a few taps on their phone.
- Places like theme parks, outdoor dining areas, museums, hiking trails, and even construction sites are good candidates for waterproof QR code labels as they frequently distribute tangible information.
Market Growth Drivers:
- Because QR Codes are quick, they are employed in many different contexts nowadays. As a result, every mobile phone now has a camera. The URL of the website is displayed by QR codes, which is their most evident benefit because URLs are frequently difficult to remember due to their length and complexity.
- QR codes tend to just raise the phone to scan the QR Code that tends to appear in many products, and the phone can link to the webpage where the QR Code is automatically preserved. Mobile phones should be used to scan QR codes because they already have the necessary software installed.
- When conducting a search in a store, a significant percentage of customers use their mobile devices to scan barcodes or QR codes. Customers can quickly determine whether or not a location is necessary by scanning these QR codes with their victimization mobile phones. By just scanning the QR code with a smartphone, consumers can easily get a government agency’s clearance for a product.
- Colleges in African nations are also harmed by QR codes for a homogenized and interactive learning method because of the large mobile penetration rate in African nations and the fact that the majority of pupils in area units have access to such gadgets. In terms of influencing consumers’ purchasing decisions, product labeling has also become increasingly important.
- The characteristics of QR code labels and the machine (mobile device) reading of these codes continue to highlight their wide application possibilities. In addition to the food and beverage industries, the healthcare, pharmaceutical, and private care sectors have been specifically designed for the paradigm change from barcode to QR code in recent years.
Challenges:
- Mobile devices in particular are a tempting target for hackers since the mobile software urges users to take fast action while restricting the amount of information available. With new technology and innovation come new risks and weaknesses.
- Users are preoccupied when using a mobile device, which greatly increases the danger of assaults. The exponential growth of QR code usage has opened up a brand-new avenue of opportunity for hackers. Ultimately, they cause havoc on businesses by using QR codes to hack into mobile devices, steal corporate information, and more.
- A handful of the risky aspects of QR codes that hackers will abuse Making a payment could allow hackers to steal a user’s personal financial information if the QR code is fraudulent. Personal information and contacts of users who have social media accounts in contact with fraudulent accounts are also made public.
- Hackers will use a QR code to automatically add a new contact list on a user’s phone, resulting in spear phishing and other assaults. Malicious actors will utilize the QR code to send a user’s geolocation data to the associated application (app) or website.
Opportunities:
Social media might currently be a crucial element for all firms. These days, Quick Response Codes (QR) are frequently an add-on to bespoke labels that direct customers to the official social media channels as a whole. Customers who use the code to follow the brand’s social media profiles may even be given a discount in an effort to draw in more customers.
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Frequently Asked Question
Q1: What is the current market size for the QR Code Labels Market?
A: According to HTF MI, the market for QR Code Labels is projected to increase at a rate of 10.41% and could reach $2,633.61 million in revenue by 2029, up from its current estimate of $1,454.11 million.
Q2: What are the key segments of the QR Code Labels Market?
A: The QR Code Labels Market can be segmented based on Offering by Application (Smartphone, Computer) by Type (Micro QR Code, iQR Code, SQRC Code, FrameQR, HCC2D Code) by Material (Paper, Plastic, PET, PVC) by Industry (Pharmaceuticals, Food, Retail) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Q3: Who are the key players in the QR Code Labels Market?
A: Some of the key players in the QR Code Labels Market include Visualead, Egoditor GmbH, Scanova, UniTag, Visme, Logaster, Delivr, QRTiger, Beaconstac, QRStuff, QR-Code Monkey
Contact Us:
Craig Francis (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +1 434 322 0091
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