Global Automatic Identification and Data Capture Market Is Anticipated To Reach Around USD 90.7 Billion By 2025

05-Aug-2019 | Zion Market Research

Zion Market Research has published a new report titled “Automatic Identification and Data Capture Market By Product (Barcodes, Magnetic Stripe Cards, Smartcards, OCR, RFID, and Biometrics), By Component (Hardware, Software, and Services), and By Vertical (Manufacturing, Retail, Transportation & Logistics, BFSI, and Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025’’. According to the report, global automatic identification and data capture market was valued at around USD 40.0Billion in 2018 and is expected to reach approximately USD 90.7Billion in 2025, at a CAGR of around 12.6% between 2019 and 2025.

Automatic identification and data capture (AIDC) is described as the process of automatically identifying objects, collecting data, and logging the same into computer systems. This entire process takes place without any kind of human intervention. It is utilized to manage delivery, assets, inventory, security, and documents. AIDC is broadly used in distribution, medicine, government, manufacturing, and retail sectors. It is a process of gaining data from external devices and then analyzing it. For data detection, a transducer is used to convert the analog data, such as sounds or images, into a digital file.

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Global Automatic Identification and Data Capture Market

Browse the full “Automatic Identification and Data Capture Market By Product (Barcodes, Magnetic Stripe Cards, Smartcards, OCR, RFID, and Biometrics), By Component (Hardware, Software, and Services), and By Vertical (Manufacturing, Retail, Transportation & Logistics, BFSI, and Healthcare): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/automatic-identification-and-data-capture-market

The rapid growth of the e-commerce industry is dependent on the speed and accuracy of product transportation. This industry is becoming highly competitive, where cost-effectiveness is of utmost importance to the consumers. The best way for the uninterrupted functioning of an e-commerce website is by adopting AIDC technology. The rising adoption of smartphones for image recognition and QR code scanning in retail and growing use of biometrics in organizations are the major growth drivers of the automatic identification and data capture market. These drivers are expected to accelerate the global market in the years ahead. Smartphone companies use image recognition as a feature to unlock a phone by using AIDC technology. However, the risk of security and authenticity of data collected may restrain the overall automatic identification and data capture market to some extent.

The automatic identification and data capture market is fragmented on the basis of product, component, and vertical. The product segment of the market includes magnetic stripes, smartcards, RFID, OCR, and biometrics. RFID consists of three main components—antenna, transponder, and transceiver. The antenna transfers a signal to the transponder that activates the antenna. This data is used to alert the Programmable Logic Controller (PLC) to perform the necessary action. RFIDs are replacing barcodes widely. Furthermore, smartcards are expected to hold a substantial market share in the future, owing to their rising use in ATM cards, health cards, fuel cards, security tokens, etc. These are embedded with a microchip wherein the data can be loaded and can be used for electronic payments, telephone calls, accessing services, etc.

The Asia Pacific region is anticipated to hold the largest share of the automatic identification and data capture market globally, owing to the expansion of leading logistics and retail companies across the region. These companies use AIDC for smooth processing and accuracy. Another prominent growth factor for this regional growth is the rising demand for automation to reduce errors in emerging industries like retail, logistics, etc. The North American automatic identification and data capture market is expected to grow at a fast pace in the future, due to the growing importance of AIDC in the region’s healthcare sector.

Some prominent companies involved in the automatic identification and data capture market across the globe are Datalogic, Zebra Technologies, Toshiba, SICK AG, Cognex, NXP, Synaptics, Honeywell, SATO, and NEC.

This report segments the global automatic identification and data capture market into:

Global Automatic Identification And Data Capture Market: Product Analysis

  • Barcode
  • Magnetic Stripe Cards
  • Smartcards
  • OCR
  • RFID
  • Biometrics

Global Automatic Identification And Data Capture Market: Component Analysis

  • Hardware
  • Software
  • Services

Global Automatic Identification And Data Capture Market: Vertical Analysis

  • Manufacturing
  • Retail
  • Transportation and Logistics
  • BFSI
  • Healthcare
  • Others

Global Automatic Identification And Data Capture Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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