Increasing adoption of AIDC solutions is driving the growth of the global automatic identification and data capture market.
PORTLAND, PORTLAND, OR, UNITED STATES, October 4, 2021 /EINPresswire.com/ – The growth of automatic identification and data capture market is primarily driven by the growing acceptance of advanced technologies, such as barcodes, RFID and biometrics; growing consumer demand for automatic identification and data capture devices; the increase in the use of smartphones and online shopping; and a growing sense of data security.
The increasing adoption of AIDC solutions is driving the growth of the global automatic identification and data capture market. However, the high costs associated with installing an automatic identification and data capture system, coupled with rising concerns about malware attacks and security breaches, are constraining the market to some extent. On the other hand, increasing government regulations for the adoption of AIDC solution forecasts present new opportunities in the years to come.
The report offers detailed segmentation of the global automatic identification and data capture market on the basis of supply, product, technology, industry vertical, and region.
The global automatic identification and data capture market generated $ 37.1 billion in 2020 and is expected to reach $ 121.07 billion by 2030, with a CAGR of 12.5% from 2021 to 2030 .
On the basis of technology, the RFID segment held the largest market share in 2020, holding more than a third of the total market share, and is expected to maintain its leading status during the period. forecast. However, the smart card segment is expected to register the highest CAGR of 16.2% from 2021 to 2030.
On the basis of supply, the hardware segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to maintain its leading status during the forecast period. However, the services segment is expected to register the highest CAGR of 15.2% from 2021 to 2030.
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Based on region, North America contributed the highest revenue share in 2020, holding a third of the global auto identification and data capture market share, and is expected to retain its dominant share by 2030. However, East Asia-Pacific is expected to exhibit the fastest CAGR of 14.10% during the forecast period.
Profiling of key players: Cognex Corporation, Datalogic SpA, Honeywell, NXP Semiconductors NV, Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba and Zebra Technologies.
• The outbreak of the COVID-19 pandemic has had a mixed impact on the global automatic identification and data capture market.
• Initially, the pandemic gave way to several obstacles, including the availability of resources and skilled labor, which affected the growth of the market.
• However, increasing demand for e-commerce coupled with increasing demand for digital infrastructure across government and the retail industry has fueled the growth of the market.
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