In 2024, the usage of QR codes is expanding at an impressive annual rate of 16.8%. The market size, which stood at $11.16 billion in 2023, is projected to surge to $38.65 billion by 2031.
In the Consumer Packaged Goods (CPG) industry, QR code usage has seen a dramatic rise. In 2023, CPG brands increased their use of QR codes by 88% year-over-year.