The latest report by IMARC Group, titled “Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global automatic identification and data capture (AIDC) market size reached US$ 43.7 Billion in 2021. Automatic identification and data capture (AIDC) refers to the process of obtaining, recording, and converting data into a digital file. It identifies the object and enters the related file into the computer without any human intervention. The stored data file is then compared with other files in a database to provide access to a secured system. Some of the most commonly used AIDC solutions include barcodes, radio frequency identification (RFID) tags and readers, magnetic stripes, voice recognition, and handheld and fixed-position scanners. These solutions are widely utilized to manage assets, documents, inventory security and delivery processes across various industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Automatic Identification and Data Capture (AIDC) Market Trends:
The market is primarily driven by the growing automation across multiple industries. Nowadays, AIDC devices, such as scanners and tags, are widely used across sports, manufacturing, retail, education, and logistics industries for workflow and asset and inventory management. In addition, the increasing technological advancements in RFID systems represent another major growth-inducing factor. Besides this, various financial institutions are adopting biometrics and smart card solutions to safeguard the transaction procedure and provide an additional layer of protection for sensitive data. This, coupled with the growing utilization of AIDC devices in the healthcare sector for non-clinical applications, such as tracking medical staff and assets and managing the supply chain of numerous healthcare products, is positively influencing the market growth. Moreover, several initiatives undertaken by governments of different nations to encourage the use of advanced AIDC solutions is also creating a positive market outlook. Looking forward, IMARC Group expects the market to reach US$ 95.8 Billion by 2027, exhibiting a CAGR of 14.15% during the forecast period (2022-2027).
- Based on the offering, the market has been segmented into hardware, software and services.
- On the basis of the product type, the market has been categorized into barcode scanners, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID products, and biometric systems.
- Based on the vertical, the market has been classified into manufacturing, retail, transportation and logistics, banking and finance, healthcare, government and others.
- Region-wise, the market has been divided into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report, with the detailed profiles 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.
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