Brief Stats

Market Growth:

• QR code market: $13.04B (2025) → $28.64B (2030) - Mordor Intelligence
• QR payment market: $8.07B (2020) → $35.07B (2030) at 16.1% CAGR - Allied Market Research
• 5.3 billion QR coupon redemptions (2022 forecast) - Juniper Research

Security Threats:

• 587% increase in quishing (phishing with QR codes) attacks (August-September 2023) [Check Point Research]
• 22% of phishing attacks used QR codes (2023) [Keepnet Labs]
• 89.3% of QR code attacks target credential theft [Abnormal Security]

Regional Leaders

• China: 10 billion mobile devices using QR codes for payments (2022) - Statista/Juniper Research
• India: 40% of population uses QR/digital payments - Mordor Intelligence

Market Growth and Projected Impact

The QR code market is experiencing rapid growth that extends well beyond temporary trends seen during the pandemic. Valued at $13.04 billion in 2025, the overall QR code market is projected to reach $28.64 billion by 2030, advancing at a Compound Annual Growth Rate (CAGR) of 17.03% over the forecast period [Mordor Intelligence]. In terms of QR code payments specifically, the market was valued at $12.2 billion in 2024 and is expected to grow to $66.9 billion by 2034, with a CAGR of 18.70% [QR Code Press].

This growth reflects not only an expanding market but also significant shifts in consumer behaviour. In the United States, approximately 89 million smartphone users scanned QR codes in 2022, and this figure is anticipated to exceed 100 million by 2025 [Statista]. The transition from a COVID-19 contactless convenience to an essential part of daily transactions demonstrates the technology’s enduring relevance and stability.

Remarkably, 95% of consumers know how to scan a QR code [Origin Media], which should reassure industry analysts and stakeholders about the technology’s broad acceptance. The elimination of technical barriers signifies QR codes’ transition into a standard, reliable tool for diverse applications.

Regional Context