Automatic Identification and Data Capture Market: By Product Type (Barcodes, Smart Card, RFID Products, OCR Systems, Magnetic Stripe Card and Biometrics), By Offering Type (Hardware, Software and service) and End User (Banking, Finance Services and Insurance (BFSI), Government, Healthcare, Transportation & Logistics, Retail, Manufacturing and Others) Global Industry Sizing, Growth, Trend, Opportunities and Forecast ( 2021-2027)
Auto-ID and Data Capture Industry Outlook
Automatic Identification and Data Capture Market was valued at USD 39.8 Billion in 2020, which is expected to reach USD 84.6 Billion by 2027, registering a CAGR of 12.4% over the forecast period (2021-2027). Automatic identification and data capture are technologies that identify data, capture it, and store it directly in a computer without any human interference. This data can be in any form, such as image, text and sound. As the procedure is automatic, the data is collected quickly and accurately. AIDC is widely used for workflow management, asset and inventory management, and security in various industries including government, healthcare, transportation and logistics, retail, and more. According to the Aberdeen Group, 59% of retailers aim to implement dynamic marketing content with point-of-sale tools, and 61% of retailers needed assistance with handling loyalty, product information in any location, mobiles, inventory search and price search.
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Automatic Identification and Data Capture Market Dynamics:
Several BFSIs implement automatic identification and data capture tools such as smart cards and biometrics and replace traditional methods such as paper documents or ID cards issued by the respective government. These conventional methods were easy to handle since printing a document is easy. The adoption of AIDC has provided an additional layer of security in day-to-day operations and has encouraged all OSFIs to move to a digital identification method by adopting AIDC technologies. These technologies include smart cards, magnetic stripe cards and biometric devices. These technologies offer several benefits, such as reducing queues and transaction time, making small payments, and improving accuracy and efficiency.
The growing e-commerce industry is driving the demand for automatic identification and data capture devices. The industry is adopting AIDC technologies to identify various data such as barcodes, smart cards, magnetic stripe cards, smart devices to scan QR codes and image recognition. These factors are estimated to fuel the growth of the global market throughout the forecast period. Additionally, growing opportunities in the healthcare and supply chain management verticals are expected to drive the adoption of the technology in the upcoming market.
Impact of COVID-19 on Automatic Identification and Data Capture Market:
Additionally, the outbreak of the COVID-19 pandemic has had a positive impact on the automatic identification and data capture market as healthcare industries are adopting these technologies to curb the spread of coronavirus cases. . As the virus attacks the lungs and other respiratory organs, the use of AIDC technologies to study corona’s effects on the lungs should make a lasting contribution during the pandemic. However, high deployment cost, high maintenance cost, high investment cost and difficulty in maintaining these devices in remote areas may restrain the market growth. Several small retailers rely more on cash transactions than online payments, debit or credit cards for payments.
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The report describes the automatic identification and study of data that captures the market based on product type, offer type, and end user.
Based on product type, the Automatic Identification and Data Capture market is segmented into
- RFID products
- OCR systems
- magnetic stripe card
Based on the type of offering, the automatic identification and data capture market is segmented into
- A service
On the basis of end-user, the automatic identification and data capture market is segmented into
- Bank, Financial Services and Insurance (BFSI)
- Health care
- Logistic transport
Automatic Identification and Data Capture Market: Regional Outlook
Geographically, the automatic identification and data capture market is segmented into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa (MEA). In 2020, Asia-Pacific is estimated to account for the largest market share in the global automatic identification and data capture market throughout the forecast period. Rising demand for barcodes and biometric devices across several verticals such as healthcare, manufacturing, e-commerce, BFSI, transportation and logistics is expected to drive the growth of the auto identification and capture market of data.
Asia-Pacific and North America are expected to register considerable growth rate in the automatic identification and data capture market over the forecast period. Rising adoption of new technologies such as bring your own device (BYOD), increasing acceptance of AIDC devices, rising awareness and rising disposable income are contributing to the growth of the market throughout the period forecast.
Automatic Identification and Data Capture Market: Competitive Landscape –
The leading auto identification and data capture manufacturers in the global market are Zebra Technologies, Honeywell International, Datalogic SpA, Bluebird Inc. and Better Online Solution Ltd.
Other manufacturers of automatic identification and data capture include Epson America Inc., Allien Technology Corporation, NEC Corporation, Newland Europe BV, and Toshiba Tech Corporation.
- In May 2019, NXP Semiconductors partnered with Identive Group Inc. to release a new ultra-low cost NFC inlay. It is specially designed for gaming, publishing, retail end user, which helps the company to improve its market share in auto identification and
- In January 2018, Datalogic introduced Jade X7, a multi-imaging barcode reader integrated into an automated checkout system. This product provided an enhanced shopping experience for consumers.
- In January 2018, Cognex released barcode reading devices, including a mobile barcode SDK, the MX-100 and MX-1502 series.
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Automatic Identification and Data Capture Market Report Covers Comprehensive Analysis on:
- Market Segmentation and Regional Analysis
- 10 year market size
- Price analysis
- Supply and demand analysis
- Product life cycle analysis
- Porter’s Five Forces and Value Chain Analysis
- Analysis of developed and emerging economies
- PEST analysis
- Factor analysis of the market and forecasts
- Opportunities, risks and market trends
- Conclusion and recommendation
- Regulatory landscape
- Patent Analysis
- Competition Landscape
- More than 15 company profiles
Regional Analysis of Automatic Identification and Data Capture Market Includes:
- North America (United States, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia-Pacific)
- The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA
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Automatic Identification and Data Capture Market: Target Audience
- Manufacturers of automatic identification and data capture devices
- Automatic identification and data capture service providers
- Tier 1 suppliers
- Auto ID and Data Capture Battery Manufacturers
- Research institutions and universities
- Trade publications and magazines
- Government authorities, associations and organizations
- Independent Aftermarket Players