(I-BusinessNews.Com, January 15, 2020 ) Meticulous ResearchÂ®Â a leading global market research company published a research report titled ÂAutomatic Identification and Data Capture Market by Technology (Barcode, RFID, Biometrics, Smart card), Product (Scanners, Printers, Mobile Computers), End-User (Transportation, Logistics, Healthcare, BFSI, Manufacturing, Retail) – Global Forecast to 2025Â.
According to this latest publication from Meticulous ResearchÂ®, the global automatic identification and data capture market is expected to grow at a CAGR of 12.6% from 2019 to reach $100.5 billion by 2025. The growth in the automatic identification and data capture market is mainly attributed to the technological advancements along with surging penetration of AIDC applications in retail, transportation & logistics, manufacturing, BFSI, and healthcare devices. Growing concern for security has augmented the adoption of voice, fingerprint, and facial biometric technologies among many enterprises and government & public sectors, which in turn is supporting the overall growth of the automatic identification and data capture market. However, lack of connectivity infrastructure and limited exposure to advanced technologies in some of the geographic markets are some of the major factors which may hamper the growth of the global AIDC market over the coming years.
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The global automatic identification and data capture market study presents historical market data (2017& 2018), estimated current data (2019), and forecasts for 2025Â by technology (barcode, RFID, biometrics, and smart cards), product (scanner, printer, biometric scanner, mobile computers, consumables, and software), and end-user (transportation & logistics, healthcare, banking and financial, manufacturing, and retail). The study also evaluates industry competitors and analyzes the market at country level.
Scope of the AIDC Market Research Report:
AIDC Market by Technology
AIDC Market by Product
Scanner & Reader
Pen Type Reader
Laser Barcode Scanner
CCD Barcode Scanner
Smart Card Reader
Magnetic Strip Reader
Optical Character Recognition (OCR)
Finger Print Recognition
Printer & Recorder
Dot Matrix Printer
Smart Card Printer
Magnetic Stripe Printer
RFID Tags & Sticker
Thermal Transfer Ribbon/Foil
AIDC Market by End-User
Transport & logistics
Banking and Financial
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On the basis of technology, RFID technology is estimated to account for the majority share of the global automatic identification and data capture market in 2019. The large share of this segment is attributed to the diversity of applications covered by RFID technologies, and their widespread adoption as compared to other AIDC technologies. The growth in this market is credited to the rising adoption rate of RFID technology in the diversified industries such as healthcare, sports, manufacturing, retail, libraries, education, and telemetry mainly for inventory and asset management, and security purposes.
On the basis of product, scanners& readers segment is estimated to account for the largest share of the automatic identification and data capture products market in 2019. This large share is mainly attributed to the increasing usage of AIDC technologies such as barcode, RFID, biometrics, and smart cards across several industries to offer better-personalized customer experiences. In addition, increasing demand for high-level security particularly in banking and finance, and e-commerce industries to enhance customer experience is expected to contribute to the growth of this market over the forecast period.
On the basis of end-user, the transport & logistics is a perpetually growing sector. The technological evolution of AIDC solutions is transforming the areas of transport and logistics industry by revolutionizing inventory management, asset tracking, and other areas of supply chain management. The increasing movement of products across the globe is one of the key factors driving the growth in this market. However, healthcare sector is anticipated to grow at the fastest CAGR during 2019 to 2025, owing to increasing need to enhance patient safety, manage surgical instruments & their location, ensure effective workforce management and patient flow to optimize utilization of resources, avail real-time visibility into inventory, authenticate quality and sterilization processes, and improve supply chain management. The growing investment in R&D for exploring and expanding applications of AIDC devices in healthcare industry is further supporting the growth of the AIDC market for healthcare applications.
On the basis of geography, the global automatic identification and data capture market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific region accounted for the largest share of the global automatic identification and data capture market, and is expected to continue its dominance by 2025 as well. The growth in this market is attributed to the wide acceptance of advanced technologies and increasing investments for enhancing security, particularly in the areas of BFSI, healthcare, and retail industry. Growing per capita income, rising consumption capacities with a large population base, and high economic growth rate are expected to contribute to the fastest growth in the Asia-Pacific region over the forecast period.
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The key players operating in the global automatic identification and data capture market are Zebra Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Newland EMEA (Netherlands), Epson America, Inc. (U.S.), Seagull Scientific, Inc. (U.S.), NEC Corporation (Japan), Datalogic S.P.A. (Italy), Alien Technologies Corporation (U.S.), SATO Worldwide (Japan), Toshiba Tec Corporation (Japan), Microscan System, Inc. (U.S.), Jadak (U.S.), B.O.S. Better Online Solutions Ltd. (Israel), Unitech Electronics Co. Ltd. (Taiwan), TSC Auto Id Technology Co.Ltd. (Taiwan), Cognex Corporation (U.S.), Opticon (Netherlands), Code Corporation (U.S.), Bluebird Inc. (South Korea), Avery Dennison Corporation (U.S.), Godex International (Taiwan),Cardlogix Corporation (U.S.), Impinj, Inc. (U.S.), and Axicon Auto ID Ltd (U.K.) among others.
Key questions answered in the report-
Which are the high growth market segments in terms of technology, product offering, end-user, and countries?
What was the historical market for automatic identification and data capture devices across the globe?
What are the market forecasts and estimates for the period 2019-2025?
What are the major drivers, restraints, and opportunities in the global automatic identification and data capture market?
Who are the major players in the global automatic identification and data capture market?
How is the competitive landscape in the global automatic identification and data capture market?
What are the recent developments in the global automatic identification and data capture market?
What are the different strategies adopted by the major players in the global automatic identification and data capture market?
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