High market share concentration has led to a slow fall in prices despite high competition in the market.
Los Angeles, CA (PRWEB) June 07, 2014
Barcoding software has a buyer power score of 4.4 out of 5, reflecting positive market conditions for buyers. The average price of barcoding software has steadily declined over the past three years. “Despite high market share concentration, competition among suppliers is high,” says IBISWorld research analyst Dale Schmidt. “Widespread adoption of barcode systems results in suppliers competing on price to win new customers and convince current users to upgrade.” This trend has helped place downward pressure on prices, which are expected to continue declining over the next three years. In addition, prices for barcoding software are not particularly volatile, so buyers face little risk of prices increasing suddenly.
Barcodes are used internationally to help identify and track packages and documents; barcoding software helps businesses adhere to international standards of identification to ensure consistency and accuracy. As such, barcoding software is fairly standardized. “Although suppliers offer varying features and levels of support, the core functions of barcoding software are similar across suppliers,” Schmidt says. “Despite the low level of specialization, however, buyers face a lack of substitutes.” Current major vendors include Seagull Scientific, Teklynx Newco and Loftware Inc.
Although the software sector is quickly evolving, barcoding software is considered to be in the mature phase of its life cycle. Barcode systems have been in place for several decades, and updates to software are incremental. However, the widespread use of barcodes helps maintain high demand for the software, which prevents prices from dropping faster. Businesses rely on barcoding systems to operate efficiently, and the lack of substitutes somewhat limits buyer power. Nevertheless, overall market conditions greatly benefit buyers. For more information, visit IBISWorld’s barcoding software procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of barcoding software. This software allows businesses to generate barcodes, which are scanned to track inventory, production status, documents, shipping, healthcare patients and more. Barcodes typically consist of parallel lines of varying widths and spacing, although other shapes can also be scanned.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.