New York, (USA): – The global automatic identification and data capture market size was 43.1 billion US$ in 2021. The global automatic identification and data capture market is expected to reach US$102.6 billion by 2030, registering a compound annual growth (CAGR) of 12.1% during the forecast period from 2022 to 2030.
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Automatic data capture and identification systems recognize data, capture it and store it in a computer without the need for human assistance. This data can be in the form of images, text and sound. Data is collected quickly and accurately because the operation is automated.
Factors influencing the market
Many BFSIs are using automatic identification and data capture systems like smart cards and biometrics to replace old traditional methods like paper IDs or government-issued ID cards. Thus, it propels the growth of the global automatic identification and data capture market.
The increasing adoption of smart cards, magnetic stripe cards and biometric devices will propel the automatic identification and data capture market during the study period.
The growing use of smartphones for image recognition and QR code reading is likely to fuel the growth of the global auto identification and data capture market. Furthermore, increasing adoption of AIDC solutions to eliminate human error will accelerate the growth of the auto identification and data capture market during the study period.
Growing partnerships among industry players will drive the market forward over the study period. In May 2019, NXP Semiconductors and Identive Group Inc. partnered. The partnership aims to unveil a new ultra-low cost NFC inlay, which is being developed for gaming, publishing and the retail end user.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a beneficial impact on the automatic identification and data capture market. Healthcare organizations have started adopting these technologies to reduce human labor. Additionally, digitization of each segment has fueled the growth of the global automatic identification and data capture market owing to the COVID-19 pandemic.
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Asia-Pacific is expected to hold the largest market share in the global automatic identification and data capture market. The need for barcodes and biometric devices is expected to grow across many verticals including healthcare, manufacturing, e-commerce, BFSI, transportation and logistics. Thus, it will contribute to the growth of the automatic identification and data capture market in Asia Pacific.
- Cognex Corporation
- Datalogic SpA
- NXP Semiconductors AG
- Panasonic Company
- SICK S.A.
- Synaptics Incorporated
- Zebra Technologies
- Other top players
The global automatic identification and data capture market segmentation focuses on supply, product, technology, industry vertical, and region.
- Scanner and Reader
- Barcode readers
- RFID reader
- Smart card reader
- magnetic stripe reader
- Optical Character Recognition (OCR)
- Biometric scanners
- Printer and Recorder
- Radio Frequency Identification (RFID)
- Optical Character Recognition (OCR)
By industry vertical
- Logistic transport
- Health care
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- North America
- United States
- Western Europe
- Great Britain
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia-Pacific
- Middle East and Africa (MEA)
- United Arab Emirates
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of South America
What is the purpose of the report?
1.The market report presents the estimated market size at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size and market valuation.
The report outlines current industry trends and future potential for North America, Asia-Pacific, Europe, Latin America, Middle East and Africa markets.
3.The report provides a comprehensive view of the market based on geographic scope, market segmentation, and financial performance of major players.
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