QR codes are there for ages now and its applications are still growing drastically. QR codes are now being used as one of the revolutionary marketing strategies for businesses and marketers after 2017 Apple's announcement for iOS 11 update which allowed the user to scan the QR code right from the mobile camera.

The idea of adding QR code feature to the control settings was a pure genius and it worked out to be a game-changer move. Even the latest android smartphones have made QR code reader a native feature.

Applications of QR codes

There are many applications of QR code. The most popular of all the applications are initiating customer service, downloading apps, network access without a password, making online payments, and using eCommerce.

QR code is also used to improve the customer's post-purchase experience by enabling them to reorder the product using QR code or link to details about the product via QR code which may include video tutorials, etc.

Note: As per Juniper Research, by 2022, 5.3 billion QR code coupons will be redeemed by smartphones and 1 billion smartphones will access QR codes.

Also Read: QR Code Technology Facts: 5 Myths Never Revealed Before

Here Are the Reasons Why QR Code Still Be Trending This Year

1. Information Holding Capacity

A QR code can hold between 1-2,000 characters of encoded data. The information which a QR code can store is inventory tracking, sales registry, supply chain management, mobile marketing, and logistics.

The added perk of QR codes is the possibility of encoding images or links onto it.

2. Error Correction

The supreme advantage of QR code over the first-generation barcode is its error margin that ranges from 7- 30%. The QR Code has error correction ability and can restore data if the code is dirty or damaged.

3. Readability

QR codes can hold more data than barcodes i.e., up to 2000 characters and still manage to appear physically small. The data encoded is based on both the vertical and horizontal arrangement of the QR pattern i.e.,2D.

You can use the information either way while connected to a database or not. QR code scanners can read from over 3 feet away providing the user more flexibility in their use.

4. Easy-to-use

It is believed that the QR Code is hard to scan, but it's not. What you have to do is just, hold your hand in a straight line in order to scan the QR Code and keep your hands stable. It's mere a misconception. A good smartphone scans the QR Code very quickly (in Nanoseconds).

5. Cost-Effective

QR Code is not at all expensive. If executed effectively they are very cost-effective because they allow to save a lot of money in maintenance and increase the efficiency of machines and equipment (in case Assets, but overall too).

Also Read: How can you utilize QR code technology in your business?

6. Trending Technology

Around 2010 QR Code technology was everywhere. But at that time most people do not have a smartphone and the phone does not come with the QR Code Scanner.

So eventually this QR Code technology failed but after a few years' smartphones were everywhere and come with QR Code Scanner. Apple also added an inbuilt QR Code to its native camera because QR Code becomes so popular that Apple could not ignore it.

7. The Popularity of QR codes

As we have mentioned above smartphones were not there and in-built QR Code technology was not there on mobile. However, now the QR Code technology is dominating.

According to a recent survey by Statista, in the US alone, an estimated 11 Million households will scan a QR Code in 2020. This is on an increase from an estimated 9.76 Million scans in 2018.

Furthermore, in Asia, there are a lot of users who make payments with the QR Code. Big brands such as Paytm, WeChat, etc. holds hundreds of millions of users.

8. Highly Customizable

Instead of the traditional black and white style, this year will bring you more colorful, attractive, and fascinating QR codes. QR codes are highly customizable with different colors, logos, shapes to seize the customer's attention.

Besides looking attractive and feeling good QR codes are dynamic as well. Dynamic QR codes have flexible destination URLs. These URLs can be scheduled or changed in real-time according to time, device, and location.

Note:

• Southeast Asia and India are going to be the largest region to scan QR Codes by 2020 at 15 million and 8 million respectively. (Beaconstac, 2019).
• PayPay, a QR Code-based payment system launched by Noida based One97 Communication backed by SoftBank and Yahoo Japan has managed to sign up 15 million customers within 10 months of its launch. (Indian Express, 2019).
• Consumer usage of QR Codes will be 5.3 billion QR Code coupons to be redeemed by smartphones by 2022 and 1 billion smartphones will access QR Codes. (Juniper Research, 2019).
• A September 2020 survey found that 18.8 percent of consumers in the United States and the United Kingdom strongly agreed that they had noticed an increase in QR code use since the beginning of COVID-19 related shelter-in-place orders in March 2020. (Statista)

Also Read: 6 Beneficial Use-Cases of QR Code Technology Utilization

Various Other Use Cases of QR codes Technology

1. Asset Tracking

In this modern generation, QR codes are the successors of barcodes which have gained popularity in recent years. There are more than a few reasons that are why QR code is better. QR code is versatile, it can be used for anything and everything, scan QR code, and store information. There are several big brands that are utilizing asset management software via QR code. Therefore, it proves that asset tracking is successful with the QR code assistance.

2. Experiential Shopping Experience

Nowadays there are a lot of businesses that are using QR code technology for getting a discount on the shopping website. When they scan the QR code they get an extra discount on the product. It should be clear-cut instructions for a customer. Don't let the customer assume the next step.

When you purchase a product such as cloth, wine, movie ticket, or plane ticket, it produces a receipt in the form of aQR code. QR code technology provides crucial data that you help in a marketing campaig

3. Consumer Awareness

Every big brand is implementing creative QR codes to spread their product awareness to the consumers.

For example, Museums usually use QR codes to offer a multi-media experience for their visitors. An exhibit can display a piece of limited information, but through QR code they can display more video, data, pictures, audio, or a combination of presentation media.

People need to scan the QR code of Starbucks which will redirect them to a mobile landing page with video, to find the nearest store location, and learn about the company's more coffee products, the menu, card balance, etc.

QR codes on bottles and cans are used to give information about artificial sweeteners if used, a number of calories in a drink, sustainability information, and carbon emission. These are the general information you can pull out of a QR code through its scan.

4. QR Code Payments

QR codes are used for payments as well because they can be scanned from paper and screens both. This is the reason you can see QR codes in some online stores and apps. All you have to do is scan the merchant's QR code and make the payment.

Conclusion:

QR codes are extensively being used everywhere. The future of QR codes depends on its usage and penetration in different industry applications that are anticipated to rise in the years ahead.

QR codes are used at the store level to display the latest deals & promotions and at the product level, to make products more interactive and interesting.

There is no doubt that QR codes will be always in trend because in asset management QR codes are used in the form of tags as they provide accurate information of assets such as where exactly the asset is located! What is the status of the asset! QR codes play a crucial role in providing data to the software. Asset management software can help in analyzing trends with the help of QR codes. QR codes are effective, accurate & simple to use.