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© 2021, International Organization on 'Technical and Physical Problems of Engineering'. All rights reserved.Quick Response (QR) codes have become an important component to enable various technical solutions and are being used by millions of people around the world every day. With the tremendous increase in usage of QR codes and the growing number of applications mostly including sensitive tasks such as payment and ticketing, it becomes vital to understand the current state of the technology, its implementation, limitations, and scope for future work. The present paper is aimed at fulfilling this purpose and provides an analysis of the latest advancements in QR code detection and pre-processing technologies. The study also reveals the multi-step process of QR code recognition, by this paper it is achieved to help organizations in optimally adopting the technology for their respective needs.