The market for automatic identification and data capture is on the rise

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The global AIDC market is expected to grow from USD 45.67 billion in 2021 to USD 145.323 billion by 2032; it is expected to grow at a CAGR of 9.76% over the period 2021-2032. Major factors fueling the growth of this market include the growth of the e-commerce industry globally; growing use of smartphones for QR code reading and image recognition; increasing adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience for users to make small value payments; and the growing adoption of AIDC solutions by banking and financial institutions to ensure customer security and data privacy. The recession will soon hit hard, know your market well.

Latest research launched on the global Automatic Identification and Data Capture market, it provides a detailed analysis with presentable charts, graphs and tables. This report covers an in-depth study of the Automatic Identification and Data Capture market size, growth and share, trends, consumption, segments, application and forecast 2030. With qualitative and quantitative analysis, we assist you with an in-depth and comprehensive research on the Global Automatic Identification and Data Capture Market Market. This report has been prepared by experienced and knowledgeable market analysts and researchers. Each section of the research study is specially prepared to explore key aspects of the global Automatic Identification and Data Capture Market. Buyers of the report will get access to accurate PESTLE, SWOT, and other type analysis on the global Automatic Identification and Data Capture Market. Moreover, it offers highly accurate estimations on CAGR, market share, and market size of key regions and countries.

Major Key Players profiled in the report include:
Datalogic, Honeywell, Zebra Technologies, Sick, Cognex, Toshiba, NEC, NXP, Synaptics, Sato, Avery Dennison, Epson, NCR, Casio, Denso Wave, M3 Mobile, Cipherlab, Impinj, BOS Better Online Solutions, Bluebird

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Opportunity: Imposing government regulations for the adoption of AIDC solutions
Government institutions around the world are adopting automatic identification and data capture technologies, such as biometrics and smart cards, for identification and verification applications. The United States is the pioneer in the adoption of biometric solutions. According to a report submitted by the United States Government Accountability Office (GAO), Department of Homeland Security expenditures exceeded $13 billion in 2015. Governments in technologically advanced countries, such as India and China, are committed to improving the quality of services in the public safety and health sectors. The Indian government has introduced unique identification cards (Aadhaar) in which biometric technology is used to provide a unique identification number to every citizen, which has created a huge opportunity for biometric technology in India. In January 2018, the Indian government also added facial authentication technology, along with iris and fingerprint authentication technologies to Aadhaar.

Challenge: Malware Attacks and Security Breaches
Security issues such as malware attacks or data duplication are some of the major challenges faced by automatic identification and data capture products, ultimately creating challenges for players in this market. These security flaws call into question the objective of implementing automatic identification and data capture technologies, in particular biometrics, the sole purpose of which is to offer a reinforced and additional layer of security. A biometric system consists of image capture and processing devices, communication channels and databases, which are subject to a wide range of replay attempts and other forms of adversarial attacks. The biometric sample captured in the access control application can be intercepted and misused to enable illegitimate authentication.

The hardware component held the largest market share in the AIDC market in 2019
Hardware component is expected to account for the largest share of AIDC market by 2025. The high requirement for hardware components in several automatic identification and data capture products such as barcode solutions, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID tags, printers and readers, tablets, wearable devices, VR devices, heads-up display devices, Google Glass and biometric systems, contributed to the larger size of the hardware segment.

Market is split by Type, can be split into:
Barcodes, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID products, biometric systems.

The market is split by Application, can be split into:
Manufacturing, Retail, Transportation & Logistics, Banking & Finance, Healthcare, Government

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The report authors have analyzed the developing and developed regions considered for research and analysis of the global Automatic Identification and Data Capture Market. The regional analysis section of the report provides in-depth research study on different regional and country-level Automatic Identification and Data Capture industries to help players plan effective expansion strategies.

Regions Covered in Global Automatic Identification and Data Capture Market:
• North America (United States, Canada)
• Europe (UK, Germany, France, Italy)
• Asia-Pacific (China, India, Japan, Singapore, Malaysia)
• Latin America (Brazil, Mexico)
• Middle East and Africa (Kuwait, Saudi Arabia, Egypt)

Years considered to estimate the market size:
Historical year: 2019-2020
Base year: 2021
Estimated year: 2022
Forecast year: 2022-2030

What market dynamics does this report cover?
The report shares key information on:

Current market size
Market forecasts
Market opportunities
Main Drivers and Constraints
Regulatory scenario
Industry trend
New product approvals/launch
Promotion and marketing initiatives
Price analysis
Competitive landscape
It helps companies make strategic decisions

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Regional outlook
North America led the market in 2021, accounting for nearly 40.0% share of global revenue. This high share can be attributed to growing awareness and high adoption of AIDC devices and increased legislation and government investment, especially in the retail, healthcare, and manufacturing sectors. . Moreover, the widespread acceptance of advanced technologies and technological development of many industries is driving the growth of the regional market.

For example, in August 2022, OmniQ Inc., an IT company that provides AI-based computer vision solutions, received an additional $1 as part of a project for a supply chain of Fortune 100 retailers. with over 2300 locations in North America. The purchase order is for full technical support for the new technology deployed in the region’s giant logistics facilities. This will speed up the deployment process by ensuring accurate configuration, robust reporting, and a dedicated customer-facing concierge business support team.

Key companies and market share information
Leading companies have used product launches and developments, followed by expansions, mergers and acquisitions, contracts, agreements, partnerships and collaborations as their main business strategy to increase their market share. Companies have used various techniques to improve market penetration and strengthen their position in the automatic identification and data capture industry.

For example, in August 2022, Peak Technologies and Supply Chain Services LLC. agreed to integrate their businesses into an overall merger agreement. The combined company will operate as Peak Technologies. In the huge, fragmented and competitive AIDC industry, the new company seeks to establish itself as a full-service solutions provider. The newly consolidated company is uniquely positioned to provide a full line of products to existing and new customers in North America and Europe. Some prominent players in the global automatic identification and data capture market include:

Zebra Technologies Corp.

Datalogic SpA

Bluebird Inc.

BOS Better Online Solutions LTD.

Honeywell International Inc.

NEC Corporation

Cognex Corporation

Toshiba Company

Panasonic Holdings Corporation

Thales

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