According to the latest report by IMARC Group, titled "Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global automatic identification and data capture (AIDC) market size reached US$ 49.8 Billion in 2022. Automatic identification and data capture (AIDC) refers to the process of identifying and collecting data about objects, people, and transactions using barcodes, magnetic stripes, biometrics, radio frequency identification (RFID), and optical character recognition (OCR). It assists in enhancing the visibility and traceability of products, assets, and transactions and enables real-time data capturing and analysis. It also aids in making informed decisions and inventory management, ensuring compliance with regulatory requirements, and improving customer satisfaction and loyalty. It also helps in improving security and preventing fraud by ensuring that only authorized personnel can access sensitive data and systems. As a result, AIDC finds applications in manufacturing, retail, transportation and logistics, banking and finance, healthcare, and government sectors across the globe.
Global Automatic Identification and Data Capture (AIDC) Market Trends:
Presently, the rising need for supply chain management due to rapid digitization and the growing automation across numerous industries are propelling the demand for identification and data capture technologies, such as barcodes, RFID tags, and QR codes to provide real-time tracking and tracing. This represents one of the key factors positively influencing the market across the globe. In addition, AIDC solutions are employed in data security in financial institutions and healthcare facilities for accurate data capturing and enhanced operational efficiency. Moreover, the introduction of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), in AIDC solutions to process, manage, store, and share data and improve performance is strengthening the market growth worldwide. Apart from this, governments of various countries are implementing regulations for tracking and tracing pharmaceuticals. This, coupled with stringent policies for food safety, is catalyzing the demand for AIDC across the globe. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 106.5 Billion by 2028, exhibiting a CAGR of 12.6% during 2023-2028.
- On the basis of the offering, the market has been segmented into hardware, software, and services. At present, hardware holds the majority of the total market share.
- Based on the product type, the market has been classified into barcode scanners, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID products, and biometric systems. Smart cards exhibit a clear dominance in the market.
- On the basis of the vertical, the market has been categorized into manufacturing, retail, transportation and logistics, banking and finance, healthcare, government, and others. Presently, manufacturing dominates the market.
- Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.
|Base Year of the Analysis
||Offering, Product Type, Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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
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