ALBANY, NY, August 26, 2021 / PRNewswire / – Automatic identification and data capture (AIDC) Market: Wide contours
Automatic Identification and Data Capture (AIDC) technologies have significantly broadened their reach in the way information is collected and used to manage inventory, assets and documents. Many industries, including retail, manufacturing and healthcare, operate AIDC in logistics and supply chain management.
Advances in RIFD and biometric technologies have enabled technology companies to seek new sources of revenue and will help propel the automatic identification and data capture market increase at a CAGR of 9.5% over the forecast period of 2020 to 2030.
Several advantages of AIDC technologies in real-time asset and inventory management and their application in document digitization are motivating companies in various industries to adopt them. Overall, the deployment of barcode scanners, biometric and optical character recognition (OCR) and radio frequency identification (RFID) systems have increased, particularly in the government and financial services sectors.
The high costs of biometric systems are a major obstacle to sales in the Automatic Identification and Data Capture (AIDC) market. On the other hand, software companies are focusing on integrating innovative features into data capture software, which is likely to boost their adoption in the short term. In addition, the adoption of RFID by medical industry supply chain officials during the COVID-19 pandemic to manage inventory in recent months has provided additional opportunities for players in the identification market. automatic and data capture (AIDC).
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Key Findings from the Automatic Identification and Data Capture (AIDC) Market Research
- Players focus on breaking technical limits and expanding functionality: The increase in the adoption of biometrics in the corporate and government sectors has resulted in massive investments by technology companies in the Automatic Identification and Data Capture (AIDC) market. A number of software companies are relying on the integration of innovative features in biometrics for superior performance in data capture systems.
In addition, various actors are working tirelessly to improvise on AIDC systems in order to overcome existing technical limitations. The integration of advanced microprocessors in optical character recognition (OCR) and smart cards is one example. For example, technology companies are offering proprietary technologies in AIDC systems to improve performance, including spoof detection attributes and improving user experience.
- Calls on the government sector to broaden avenues: Advances in AIDC technologies reflect the demand from the government sector to streamline citizen engagement processes and ensure law enforcement. One example is the growing attractiveness of RFID in vehicles for the real-time management of traffic jams. The growing commercial applications of AI-based biometric systems have strongly attracted the government sector to deploy AIDC systems.
Many innovative solutions in biometrics and identity management have targeted the government sector, thereby boosting sales, finds a study on the Automatic Identification and Data Capture (AIDC) market.
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Automatic Identification and Data Capture (AIDC) Market: Drivers
- The digitization of business processes in various industries across the globe is driving the demand for Automatic Identification and Data Capture (AIDC) technologies. Real-time asset detection is a major attractiveness quotient for the demand for AIDC systems.
- Proliferation of e-commerce platforms in various industries has created a vast avenue for the application of real-time inventory tracking during transportation, logistics and supply chain
- Advances in the retail industry have fueled demand for advanced data capture technologies to improve customer experience
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Automatic Identification and Data Capture (AIDC) Market: Regional Growth Dynamics
- Asia Pacific and the Middle East have been at the forefront of AIDC’s massive deployment in the retail sector, generating substantial revenue streams in the global market. The Asia Pacific The Automatic Identification and Data Capture (AIDC) market in particular is expected to rise at a remarkable CAGR during the forecast period.
- North America is expected to contribute to the highest revenue share in the global Automatic Identification and Data Capture (AIDC) market. AIDC’s innovations in biometrics and other technologies have enabled North America to represent a significant market share. The United States is a lucrative market in the region. By the end of 2030, the North America market is estimated to exceed US $ 35.50 billion.
Automatic Identification and Data Capture (AIDC) Market: Key Industry Players
Well-established players in the Automatic Identification and Data Capture (AIDC) market include Datalogic SpA, Zebra Technologies, ATO Europe GmbH, Toshiba Corporation, Seiko Epson Corporation, Honeywell International and Cisco Systems, Inc.
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Global Automatic Identification and Data Capture (AIDC) Market: Segmentation
Automatic Identification and Data Capture (AIDC) Market, By Component
- RFID reader
- Barcode scanner
- Magnetic Ink Character Recognition Devices (MICR)
- Optical character recognition (OCR) devices
- Biometric devices
- Integration & Installation
- Assistance and maintenance
Automatic Identification and Data Capture (AIDC) Market, By End User
- Logistics and warehouse
- Mail and postal services
- Health care
- Others (Toll pavilion, etc.)
Automatic Identification and Data Capture (AIDC) Market, By Region
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East & Africa (AEM)
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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