Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
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.
Increasing digitization, along with the growing automation across industries, is one of the key factors creating a positive outlook for the 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. Additionally, 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 the next five years.
Breakup by Offering:
Breakup by Product Type:
Magnetic Stripe Cards
Optical Character Recognition (OCR) Systems
Breakup by Vertical:
Transportation and Logistics
Banking and Finance
Breakup by Region:
Middle East and Africa
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:
How has the global automatic identification and data capture (AIDC) market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global automatic identification and data capture (AIDC) market?
What are the key regional markets?
What is the breakup of the market based on the offering?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global automatic identification and data capture (AIDC) market and who are the key players?
What is the degree of competition in the industry?
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