What is the global market size of Automatic Identification And Data Capture Market?

Global Automatic Identification And Data Capture Market size was valued at USD 47.95 billion in 2021 and is poised to grow from USD 54.34 billion in 2022 to USD 131.48 billion by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).

Global Automatic Identification And Data Capture Market Size, Share, Growth Analysis, By Product(Scanner & Reader, Biometric Scanners), By Technology(Barcode, RFID), By End-User(Retail, Manufacturing), By Offering(Hardware, Solutions) - Industry Forecast 2024-2031

Report ID: SQMIG45E2175 | Region: Global | Published Date: April, 2024
Pages: 220 | Tables: 125 | Figures: 77

Global Automatic Identification And Data Capture Market Insights

Global Automatic Identification And Data Capture Market size was valued at USD 47.95 billion in 2019 and is poised to grow from USD 54.34 billion in 2023 to USD 131.48 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

The improved technique of automatic asset and object identification, information gathering, and data recording into computer systems is known as automatic identification and data capture (AIDC) or automatic data capture system. The management of assets, objects, deliveries, inventories, and documents across the manufacturing, distribution, retail, government, and healthcare sectors is another goal of AIDC systems. Additionally, automatic identification and data capture are thought to include technologies like radio frequency identification (RFID), optical character recognition (OCR), bar codes, biometrics, voice recognition, and QR codes (AIDC).

AIDC is a method created to collect outside data like voice, images, and videos. A transducer is used by AIDC to digitize and record real-world data. The additional categories that AIDC applications fall under include tracking validation, interfaces, and identification. Additionally, the demand for smartphones is expected to increase in the coming years, which will fuel the growth of the automatic identification and data capture market. The global market for automatic identification and data capture is also experiencing a boom.

US Automatic Identification And Data Capture Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Automatic Identification And Data Capture Market Report Snapshots

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To gain a competitive edge in the market for healthcare automatic identification and data capture, the market players are investing in strategies such as product launches, acquisitions, expansions, and collaborations. For instance, Datalogic S.p.A. introduced the Smart-VS. This device can precisely detect the presence or absence of components like caps, labels, and prints on filling lines, among others. Regarding the market for automatic identification and data capture in healthcare, the company widened its product portfolio. 'Zebra Technologies Corporation', 'Honeywell International Inc.', 'Datalogic S.p.A.', 'Bluebird Inc.', 'Sick AG', 'NCR Corporation', 'Denso Wave Incorporated', 'Impinj Inc.', 'Cognex Corporation', 'Toshiba Corporation', 'Avery Dennison Corporation', 'Motorola Solutions Inc.', 'Alien Technology LLC', 'SATO Holdings Corporation', 'CipherLab Co., Ltd.', 'Axicon Auto ID Ltd.', 'Opticon Sensors Europe B.V.', 'Janam Technologies LLC', 'Newland EMEA', 'Zebex Industries Inc.'

The major drivers that are anticipated to propel the growth of the Automatic Identification and Data Capture market over the course of the analysis period include the expanding global e-commerce sector, rising smartphone use for QR code scanning and image recognition, rising adoption of AID solutions due to their capacity to reduce transaction and queue times, and offer users greater convenience when making small-value payments.

Because of inaccurate data capture, human error, or deliberate evasion, governments worldwide frequently experience significant losses in exercise and customs. Government organizations from all over the world have created and put into effect a number of laws to improve the adoption of AIDC technologies in a variety of industries. These rules and regulations are intended to assist organizations in ensuring better information visibility, increasing operational efficiency, lowering operating costs through accurate data capture and a reduction in data entry errors, and raising customer satisfaction.

Asia Pacific would hold the largest market share for AIDC. During the forecast period, the AIDC market in Asia Pacific is anticipated to grow at the highest CAGR. Due to the increased purchasing power of the middle class, many retail and logistics companies are expanding their presence in the area, which has fueled the expansion of the automatic identification and data capture market there. Additionally, a number of key market players, including Panasonic (Japan), SATO (Japan), Toshiba (Japan), Godex (Taiwan), and Optoelectronics (Japan), are highly concentrated in the area, which is likely to fuel the expansion of the automatic identification and data capture market in Asia Pacific.

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Global Automatic Identification And Data Capture Market Size, Share, Growth Analysis, By Product(Scanner & Reader, Biometric Scanners), By Technology(Barcode, RFID), By End-User(Retail, Manufacturing), By Offering(Hardware, Solutions) - Industry Forecast 2024-2031

Global Automatic Identification And Data Capture Market Insights

Global Automatic Identification And Data Capture Market Report Snapshots

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