Global Automatic Identification and Data Capture Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Automatic Identification and Data Capture Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global automatic identification and data capture market report has been segmented on the basis of component, product, industrial vertical, and region.
Global Automatic Identification and Data Capture Market: Overview
Automatic Identification and Data Capture (AIDC) is a technological aspect in order to offer wide range of the applications with customization. The AIDC devices are widely used to collect information of an individual, object, image or sound and the data that is collected or recorded is stored in the data set without human interventions. These systems are used to manage assets, documents, inventory, security, and delivery processes in any industry. AIDC systems are used in various sectors which includes manufacturing, medicine, retail, transportation, government, distribution, and many others.
Global Automatic Identification and Data Capture Market: Dynamics
Growing E-commerce sector is resulting into high demand for automatic identification and data capture systems. These systems are developed using automatic identification and data capture technologies to detect various identification structure such as barcodes, 2d barcodes, magnetic stripes, smart cards, and many others. In addition, increasing adoption of Optical Character Recognition (OCR) and Radio frequency identification (RFID) systems among various sectors owing to its ability to use smart devices for QR code scanning and image recognition. Aforementioned are major factors expected to drive growth of the global market in the next few years.
Moreover, increasing preferences of automatic identification and data capture for biometrics application to minimize queuing and transaction time and for convenient small-value payments options is an another important factor expected to boost growth of the potential market.
However, high deployment and installation costs associated with automatic identification and data capture solutions and services is among major factor that may restraint growth of the global market to a certain extent.
In addition, rising concerns associated with data security and breaches, coupled with growing concerns adhered to stringent cyber data privacy and malware attacks are among some other challenging factors that may hamper growth of the target market.
Global Automatic Identification and Data Capture Market: Segment Analysis
Among the product segments, the segment that is expected to account for major revenue share is smart card segment in the global market. This revenue growth is primarily attributed to wide application areas, availability of smart cards used for personal identification, ATM cards, health cards, credit cards, public transit, security tokens, and fuel cards.
Global Automatic Identification and Data Capture Market: Regional Analysis
Among the regions, the Asia Pacific automatic identification and data capture market is expected to dominate by contributing highest revenue share. The Asia Pacific market growth is primarily driven by significant expansion of retail and logistics industries, coupled with presence of large number of multiple automatic identification and data capture players in countries in the region.
Market in North America is expected to register second-highest CAGR in the global market. North America market is expected to be followed by markets in the Europe and Latin America in terms of revenue share.
Global Automatic Identification and Data Capture Market Segmentation:
Segmentation by Component:
Segmentation by Product:
- Smart Cards
- RFID Products
- Biometric Systems
- Magnetic Stripe Cards
- Optical Character Recognition (OCR) Systems
Segmentation by Industrial Vertical:
- Telecom and IT
- Media and Entertainment
- Banking, Financial Services, and Insurance (BFSI)
- Others (Manufacturing, Cosmetic Industry, Oil & Gas, Food & Beverage, etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Sick AG
- Datalogic S.p.A.
- Cognex Corporation
- Toshiba Corporation
- Synaptics Incorporated
- Sato Holdings Corporation
- NEC Corporation
- NXP Semiconductors N.V.
- Honeywell International Inc.
- Zebra Technologies Corporation
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