The global automatic identification and data capture (AIDC) market grew at a CAGR of around 11% during 2014-2019. Automatic identification and data capture (AIDC) refer to the technique of obtaining, recording and converting data into a digital file. This digital file may consist of images, audio and other digital data that can be directly entered into a computer without requiring human intervention. Some of the commonly used AIDC tools include barcode scanners, magnetic strips, smart cards, optical character recognition (OCR), fingerprint scanners (biometric systems) and radio frequency identification (RFID) systems. These tools perform activities, such as data encoding, machine scanning and data decoding and are used for asset and inventory management, security and workflow management.
Global Automatic Identification and Data Capture (AIDC) Market Drivers:
Increasing digitization, along with the growing automation across industries, is one of the key factors creating a positive outlook for the automatic identification and data capture market. Furthermore, increasing awareness among end users regarding the utilization of advanced AIDC systems for data security is also driving the market growth. For instance, financial institutions are deploying solutions, such as biometrics and smart cards, to provide additional protection to financial transactions. In line with this, the utilization of these tools is increasing in the healthcare sector for improved visibility of information, accurate capturing of data and enhanced operational efficiency.
Various technological advancements, such as the development of RFID systems, are acting as other growth-inducing factors. These devices, including scanners and tags, can be used across various sectors such as sports, manufacturing, retail, education, logistics, healthcare, and telemetry applications. Other factors, including the implementation of favorable government initiatives promoting the adoption of AIDC solutions, are expected to drive the market further. Looking forward, IMARC Group expects the global automatic identification and data capture market to continue its strong growth during 2020-2025.
IMARC Group provides an analysis of the key trends in each sub-segment of the global automatic identification and data capture market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on offering, product type, vertical and region.
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The report has also analysed the competitive landscape of the market with some of the key players being Alien Technology LLC, Cognex Corporation, Datalogic S.p.A. (Hydra SpA), Epson America Inc. (Seiko Epson Corporation), Godex International Co Ltd., Honeywell International Inc., NEC Corporation, NXP Semiconductors N.V., Sato Holdings Corporation, Sick AG, Synaptics Incorporated, Toshiba TEC Corporation, TSC Auto ID Technology Co. Ltd. and Zebra Technologies Corporation.
Key Questions Answered in This Report:
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