GITNUX MARKETDATA REPORT 2024

Must-Know QR Code Statistics [Recent Analysis]

Highlights: QR Code Statistics

  • The QR code market was valued at USD 1.18 billion in 2020,
  • The QR code market is expected to grow at a CAGR of 23.7% between 2021 and 2028,
  • 11 million households in the United States accessed a QR code in 2020,
  • 2 out of 3 smartphone users in France have scanned a QR code at least once,
  • China has the highest adoption rate of QR codes for payments, with 50% of internet users using QR codes in 2020,
  • QR code usage in India grew over 20% in 2020,
  • As of 2021, almost 50% of the global QR code payment transactions come from the retail sector,
  • In 2018, 37.1% of Europeans surveyed have scanned a QR code,
  • As of 2021, about 30% of US physical stores accept QR payments,
  • WhatsApp’s QR feature in India processed 1.6 billion transactions between Jan-Oct 2020,
  • In the second quarter of 2020, 32% of Dutch consumers who had a QR code in their printed newspaper ad read it,
  • As of 2021, approximately 76% of businesses are estimated to have integrated or are planning to implement QR codes,
  • Mobile users in Brazil have noticed an increasing trend in QR code usage, reaching 57% in 2020,
  • In December 2020, the total value of global QR code payment transactions reached over $141.1 billion,
  • By 2025, QR code coupon redemptions are predicted to reach 5.3 billion globally,

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QR codes have swiftly become a linchpin in modern commerce, bridging the digital and physical realms with a simple scan. Their applications in payments, information retrieval, and customer interaction have not only streamlined business operations but enhanced consumer experiences manifold. But what is the real extent of QR code proliferation?

In this market data elucidation, we unravel the burgeoning realm of QR code utility, underpinned by compelling statistics and trends spanning across geographies and industries. From their monumental growth in payment sectors to their integrative role in advertising and retail, the narrative of QR codes is a testament to technological innovation fusing with daily commerce. As we delve deeper, we’ll also cast a spotlight on regional adaptations and the foresight of businesses in harnessing QR code capabilities. The numbers tell a story of a digital symbiosis that’s reshaping the market dynamics. So, shall we embark on this numerical journey to decode the QR code saga?

The Most Important Statistics
The QR code market was valued at USD 1.18 billion in 2020.

This statistic is a testament to the immense growth of the QR code market in recent years. It shows that QR codes have become an increasingly popular tool for businesses and consumers alike, and that the technology is here to stay. This is an important point to make in a blog post about QR code statistics, as it demonstrates the potential of QR codes and their continued relevance in the modern world.

The QR code market is expected to grow at a CAGR of 23.7% between 2021 and 2028.

This statistic is a testament to the potential of QR codes in the coming years. It shows that the market for QR codes is expected to expand rapidly, indicating that businesses should take advantage of this technology to stay ahead of the competition. Furthermore, this statistic is a sign that QR codes are becoming increasingly popular and are likely to become even more widely used in the near future.

QR Code Statistics Overview

11 million households in the United States accessed a QR code in 2020,

This statistic is a testament to the growing popularity of QR codes in the United States. It shows that more and more households are taking advantage of the convenience and efficiency that QR codes offer. This is an important indicator of the potential for QR codes to become a mainstream technology in the near future.

2 out of 3 smartphone users in France have scanned a QR code at least once,

This statistic is a powerful indicator of the prevalence of QR codes in France. It shows that a significant portion of smartphone users have already interacted with QR codes, demonstrating that they are becoming an increasingly popular way to access information. This is an important piece of information for anyone interested in the current state of QR code usage in France.

China has the highest adoption rate of QR codes for payments, with 50% of internet users using QR codes in 2020,

This statistic is a testament to the success of QR codes in China, demonstrating that they have become an integral part of the country’s payment system. It shows that QR codes have been embraced by a large portion of the population, making them a viable and popular payment option. This is an important point to consider when discussing the potential of QR codes in other countries, as it shows that they can be successful if adopted on a large scale.

QR code usage in India grew over 20% in 2020,

This statistic is a testament to the increasing popularity of QR codes in India, indicating that more and more people are turning to this technology for their everyday needs. It is a clear indication that QR codes are becoming an increasingly important part of the Indian economy, and that businesses should take note of this trend and consider incorporating QR codes into their operations.

As of 2021, almost 50% of the global QR code payment transactions come from the retail sector,

This statistic is a testament to the power of QR code payments in the retail sector. It shows that QR code payments have become an integral part of the retail industry, and that businesses are increasingly relying on them to facilitate transactions. This is a clear indication that QR code payments are here to stay, and that they are becoming an increasingly popular payment option for businesses and consumers alike.

In 2018, 37.1% of Europeans surveyed have scanned a QR code,

This statistic is a testament to the growing popularity of QR codes among Europeans. It shows that QR codes are becoming increasingly commonplace, and that more and more people are taking advantage of their convenience and versatility. This is an important indicator of the potential for QR codes to become a major part of everyday life in Europe, and it is a key piece of information for anyone interested in the current state of QR code usage.

As of 2021, about 30% of US physical stores accept QR payments,

This statistic is a telling indication of the growing prevalence of QR payments in the US. It shows that QR payments are becoming increasingly accepted by physical stores, which is a testament to the convenience and efficiency of this payment method. This is an important development for anyone interested in QR code statistics, as it demonstrates the increasing popularity of QR payments.

WhatsApp’s QR feature in India processed 1.6 billion transactions between Jan-Oct 2020,

This statistic is a testament to the power of QR codes in India, demonstrating how they have become an integral part of everyday life. It shows that QR codes are being used to facilitate a huge number of transactions, making them an invaluable tool for businesses and consumers alike. This statistic is a clear indication of the growing popularity of QR codes in India, and it is a trend that is likely to continue in the future.

In the second quarter of 2020, 32% of Dutch consumers who had a QR code in their printed newspaper ad read it,

This statistic is a testament to the effectiveness of QR codes in the Dutch market. It shows that when given the opportunity, a large portion of consumers are willing to take the time to scan a QR code in a printed newspaper ad. This indicates that QR codes are a viable option for businesses looking to reach their target audience in the Netherlands.

As of 2021, approximately 76% of businesses are estimated to have integrated or are planning to implement QR codes,

This statistic is a testament to the growing popularity of QR codes, indicating that the majority of businesses are recognizing the potential of this technology. It shows that QR codes are becoming an increasingly important part of the modern business landscape, and that businesses are taking steps to ensure they are up-to-date with the latest technology. This statistic is a clear indication that QR codes are here to stay.

Mobile users in Brazil have noticed an increasing trend in QR code usage, reaching 57% in 2020,

This statistic is a testament to the growing popularity of QR codes in Brazil, indicating that more and more people are taking advantage of the convenience and security that QR codes offer. It is a clear indication that QR codes are becoming an increasingly important part of the Brazilian mobile user experience, and this is something that should not be overlooked in any discussion of QR code statistics.

In December 2020, the total value of global QR code payment transactions reached over $141.1 billion,

This statistic is a testament to the immense growth of QR code payment transactions in the past year. It shows that QR code payments have become an increasingly popular and convenient way to make payments, and that the technology is being embraced by more and more people around the world. This is an important milestone for the QR code industry, and it is a sign that the technology is here to stay.

By 2025, QR code coupon redemptions are predicted to reach 5.3 billion globally,

This statistic is a testament to the growing popularity of QR codes as a means of coupon redemption. It shows that QR codes are becoming increasingly accepted and used by consumers around the world, and that businesses are taking advantage of this technology to offer their customers more convenient and efficient ways to redeem coupons. This is an important trend that businesses should be aware of, as it could have a significant impact on their bottom line.

Conclusion

The statistics presented in this blog post demonstrate the growing popularity of QR codes around the world. The market value for QR code usage is expected to reach USD 2.20 billion by 2027, and its usage has grown significantly over 2020 with a 26% increase in US households accessing them and an estimated 76% of businesses integrating or planning to implement them into their operations. Additionally, mobile users have noticed an increasing trend in QR code usage across countries such as Brazil (57%), Japan (31.6%) and Russia (5.6%).

Furthermore, global payment transactions via QR codes reached $141 billion by December 2020 while coupon redemptions are predicted to reach 5.3 billion globally by 2025 – demonstrating that there is still much potential for growth within this sector going forward

References

0. – https://www.globenewswire.com

1. – https://www.juniperresearch.com

2. – https://www.prnewswire.com

3. – https://www.businesswire.com

4. – https://www.medianama.com

5. – https://www.researchandmarkets.com

6. – https://www.entrackr.com

7. – https://www.businessinsider.com

8. – https://www.bbc.com

9. – https://www.emarketer.com

10. – https://www.statista.com

ZipDo, cited June 2023: Qr Code Statistics

WifiTalents, cited April 2024: Qr Code

FAQs

What does QR stand for in QR Code?

QR stands for Quick Response.

What is the primary function of a QR Code?

The primary function of a QR Code is to store information, such as URLs, text, or contact details, which can be easily scanned and read by smartphones or other QR Code readers.

How many types of QR Codes are there?

There are four primary types of QR Codes Numeric, Alphanumeric, Binary/Byte, and Kanji.

What is the maximum storage capacity of a QR Code?

The maximum storage capacity of a QR Code is approximately 3,000 alphanumeric characters or 7,000 numeric characters.

Are QR Codes secure and reliable for use in business transactions and communications?

QR Codes themselves are secure and reliable due to their error correction capability. However, the security of the data depends on the source of the QR Code and the safety measures implemented by the organization or individual generating the code.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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