QR Codes Market Size
| Study Period | 2019 - 2030 |
| Market Size (2025) | USD 13.55 Billion |
| Market Size (2030) | USD 29.91 Billion |
| CAGR (2025 - 2030) | 17.15% |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
QR Codes Market Analysis
The QR Codes Market size is estimated at USD 13.55 billion in 2025, and is expected to reach USD 29.91 billion by 2030, at a CAGR of 17.15% during the forecast period (2025-2030).
- QR codes have experienced a significant rise in global adoption across industries. The widespread demand for QR codes stems from their versatility, ease of use, and adaptability across diverse applications, from marketing and payments to logistics and healthcare. As digital transformation accelerates worldwide, the demand for QR codes grows even further, driven by evolving consumer behaviors, technological advancements, and the increasing need for contactless interactions.
- The increasing demand for contactless solutions has significantly transformed the global economy. QR codes, originally designed for inventory management in Japan's automotive industry, have evolved into a critical tool for enabling contactless interactions. These codes are now integral to operations across sectors such as retail, hospitality, healthcare, logistics, and finance. Advancements in technology and evolving consumer preferences primarily drive this adoption.
- In the financial sector, QR codes have become a cornerstone of contactless payment systems. As economies worldwide transition to cashless transactions, QR codes offer a cost-efficient and user-friendly solution for digital payments. Platforms like WeChat Pay, Alipay, and Paytm have disrupted traditional commerce models in key markets such as China, India, and Brazil.
- In the logistics and transportation sectors, QR codes have become indispensable for tracking shipments, managing inventory, and providing real-time updates across the supply chain. Companies are introducing new initiatives to enhance operational efficiency and drive revenue growth.
- While QR codes themselves are not inherently risky, the destinations they link to can be. Similar to any URI, URL, or file link, safety is not guaranteed. Globally, the QR code market grapples with regulatory hurdles primarily centered on security, privacy, standardization, and fraud prevention.
- Economic uncertainties, from recessions and financial crises to geopolitical instabilities, dampen business confidence and curtail investments in digital payment systems. Companies under financial duress might hesitate to adopt new QR-based payment systems. Sectors like tourism, luxury retail, and hospitality, which are particularly sensitive to economic shifts, may sideline digital payment advancements during turbulent times. Yet, paradoxically, such economic downturns can hasten the move towards cashless transactions, as both businesses and governments champion digital solutions to streamline payments and cut costs.
QR Codes Market Trends
Payments and Transactions to be the Leading End User Application
- QR codes, due to their simplicity, are now integral in various sectors. Retail giants like Walmart, Amazon, and Shopify leverage them for inventory tracking and checkouts. In healthcare, they're pivotal for vaccine verification and digital prescriptions. The entertainment and travel sectors also utilize QR codes for seamless, contactless interactions.
- Digital wallet apps, including Apple Pay, Google Pay, PayPal, and regional players like Alipay and PhonePe, have been instrumental in propelling the contactless payment trend. These platforms simplify payments by allowing users to scan static or dynamic QR codes at checkout counters, restaurants, and e-commerce sites. This ease of use has attracted many small businesses, enabling them to lessen their reliance on costly POS systems and cash transactions.
- In recent years, the demand for faster, safer, and more convenient transaction methods has driven a significant shift towards contactless solutions. Today, consumers favor tap-and-go payments, digital wallets, and mobile banking over traditional cash and card methods. This shift, accelerated by the COVID-19 pandemic's emphasis on hygiene, has seen many businesses adopt contactless payment terminals, self-checkout kiosks, and QR-based systems.
- India stands out as a key provider in the embrace of digital payments. The annual surge in transactions via the Unified Payments Interface (UPI) system underscores this trend. Data from the Press Information Bureau reveals that UPI transactions in India escalated from 12.2 billion in January 2024 to 16.7 billion by December 2024, marking a robust 37% increase in monthly transactions.
- QR codes have transformed financial transactions by simplifying payments and enhancing security. Static QR codes link directly to vendor bank accounts, offering fixed access to payment gateways. This feature supports financial inclusion and meets regulatory mandates. Conversely, dynamic QR codes produce unique, one-time-use identifiers for specific transaction values, combining enhanced security with the flexibility required in modern digital commerce.
Asia Pacific Expected to Witness Significant Growth in the Market
- The Asia-Pacific region's dominance in the QR code market is supported by scalable digital payment infrastructures and government policies emphasizing financial inclusion. Vendor-driven innovations continue to address diverse consumer requirements, ensuring the region remains globally significant in QR code adoption.
- Strong government support for digital payment systems has positioned the Asia-Pacific region as the leading QR code market globally. India's Unified Payments Interface (UPI) processed 12 billion QR transactions (Reserve Bank of India, RBI), while China's WeChat Pay and Alipay continued to dominate the retail sector.
- India has significantly expanded its QR infrastructure under the Digital India Mission. As of March 2024, the initiative integrated 30 million merchants, incorporating unbanked populations from rural and semi-urban areas into the formal economy and increasing QR code adoption.
- Japan's "Cashless Vision 2025": Government subsidies are encouraging SMEs to adopt QR payment systems, accelerating the transition from cash dependency. Nikkei Asia reported in January 2024 that these subsidies are modernizing small businesses, particularly in the tourism and retail sectors.
- In Southeast Asia, platforms such as Grab are utilizing QR codes to facilitate payments for ride-hailing and food delivery services. This integration is enhancing user convenience and driving QR code adoption in the informal sector.
QR Codes Industry Overview
The QR code market experiences intense competitive rivalry due to the presence of numerous service providers, low customer switching costs, and the widespread availability of QR code generation tools. With increasing adoption across industries such as retail, marketing, healthcare, payments, and logistics, companies are striving to differentiate themselves through advanced features, strategic pricing, and superior customer service.
In sectors like retail and marketing, businesses utilize QR codes for interactive campaigns, digital menus, and enhancing customer engagement. This growing adoption of QR codes across various industries has further intensified competition.
Fintech firms integrate QR codes to enable seamless payment processes, while healthcare providers leverage them for managing patient records and delivering contactless services. These diverse applications have attracted both startups and established tech giants, making the industry highly competitive. Companies must continuously innovate their offerings to address the varied needs of different industries, driving intense rivalry.
Some companies focus on providing free services with limited features, while others adopt subscription-based models offering advanced analytics, customization, and integrations. To attract customers, businesses frequently offer discounts, free trials, and feature upgrades, creating challenges for profitability in this highly competitive market.
Overall, the QR code market experiences high-intensity competitive rivalry due to the large number of players like Uniqode Phygital, Inc., QR TIGER PTE. LTD, Flowcode, PayPal Holdings, Inc., and Trycon Technologies Private Limited, ease of switching for customers, and the constant need for innovation.
QR Codes Market Leaders
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Uniqode Phygital, Inc.
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QR TIGER PTE. LTD.
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Flowcode
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PayPal, Inc.
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Trycon Technologies Private Limited
- *Disclaimer: Major Players sorted in no particular order
QR Codes Market News
- March 2025: UnionPay International Co. Ltd., a state-owned entity from China, has broadened its QR code payment initiative to encompass Cambodia and Thailand. This move underscores UnionPay's commitment to streamlining payment processes between China and Southeast Asia. In a recent joint announcement, UnionPay revealed its collaboration with the National Bank of Cambodia (NBC). This partnership empowers users of NBC's Bakong e-wallet to make payments by scanning UnionPay QR codes, not just in Cambodia and China but also in 46 other nations and regions affiliated with UnionPay. Furthermore, Bakong e-wallet users can now scan WeChat Pay QR codes while in China.
- October 2024: Flowcode has teamed up with the rapidly expanding snack brand LOVE CORN. This collaboration marks the debut of AI-driven QR code technology on consumer goods packaging. The co-branded LOVE CORN packs feature custom Flowcodes. When scanned, these codes direct consumers to dynamic landing pages showcasing unique LOVE CORN branding activations.
QR Codes Industry Segmentation
The market is defined by the revenue generated from various types of QR codes, which are being used in static and dynamic formats in a diverse range of geographic regions worldwide.
The QR codes market is segmented by QR code type (website QR code, menu QR code, file download QR code, social media QR code, app store QR code, and others), by format (static QR code and dynamic QR code), by end-user application (marketing and advertising, payments and transactions, information sharing, customer engagement, and others), and by geography (North America, Asia-Pacific, Europe, Latin America, Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Type | Website QR Code |
| Menu QR Code | |
| File Download QR Code | |
| Social Media QR Code | |
| App Store | |
| Others | |
| By Format | Static QR Code |
| Dynamic QR Code | |
| By End-User Application | Marketing and Advertising |
| Payments and Transactions | |
| Information Sharing | |
| Customer Engagement | |
| Others | |
| By Geography*** | North America |
| Europe | |
| Asia | |
| Australia and New Zealand | |
| Latin America | |
| Middle East and Africa |
QR Codes Market Research FAQs
How big is the QR Codes Market?
The QR Codes Market size is expected to reach USD 13.55 billion in 2025 and grow at a CAGR of 17.15% to reach USD 29.91 billion by 2030.
What is the current QR Codes Market size?
In 2025, the QR Codes Market size is expected to reach USD 13.55 billion.
Who are the key players in QR Codes Market?
Uniqode Phygital, Inc., QR TIGER PTE. LTD., Flowcode, PayPal, Inc. and Trycon Technologies Private Limited are the major companies operating in the QR Codes Market.
Which is the fastest growing region in QR Codes Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).
Which region has the biggest share in QR Codes Market?
In 2025, the Asia Pacific accounts for the largest market share in QR Codes Market.
What years does this QR Codes Market cover, and what was the market size in 2024?
In 2024, the QR Codes Market size was estimated at USD 11.23 billion. The report covers the QR Codes Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the QR Codes Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
QR Codes Industry Report
Statistics for the 2025 QR Codes market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. QR Codes analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
