Global Industrial Automatic Data Capturing and Identification Systems Market 2017-2021
About Industrial Automatic Data Capturing and Identification Systems
Automatic data capturing (ADC) and identification systems are equipment that are classified into five broad categories, such as sensor and security, machine vision, laser marking, integration, and identification systems. This equipment is used to capture data from objects and images without any human intervention. The major application areas of ADC and identification systems include inventory management, delivery management, and security and documentation. Data capture is the mechanism by which data can be identified and extracted from a scanned product for further processing.
Technavio’s analysts forecast the global industrial automatic data capturing and identification systems market to grow at a CAGR of 5.96% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global industrial automatic data capturing and identification systems market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of automatic data capturing and identification systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Industrial Automatic Data Capturing and Identification Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global industrial automatic data capturing and identification systems market: Cognex, Datalogic, KEYENCE, OMRON, and SICK.
Other Prominent Vendors in the market are: Banner Engineering, IPG Photonics, ifm, Leuze electronic, Honeywell International, Zebra Technologies, DENSO, and CASIO COMPUTER.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is forward integration of systems for connectivity. Vendors are trying to integrate with other company providers to provide a more broader solution. Due to the increased importance in connectivity and data transfer, it becomes vitally important for vendors to provide proper solution for connectivity to users. The captured data need to be sent and retrieved so that valuable insights can be derived from them.”
According to the report, one driver in market is real-time visibility of the work done. The logistics and manufacturing industries both require visibility of goods that are stocked into warehouses. The improvements in equipment such as RFID and barcode readers that helps in capturing data are now proving beneficial for increasing the accuracy in inventory holdings as well as reducing the stock-outs as they provide an exact available inventory level in warehouses. If proper real-time visibility is not present, it can result in huge loss of operational expenditure and time. Food and pharma industries annually incur large amount of operation expenses due to improper tracking and handling of foods during the logistics process. Majority of the manufacturing companies have a lack of visibility of products in supply chains and material handling processes. This leads to delay in time and cost, resulting in decline of profits for companies.
Further, the report states that one challenges in market is difficulty to adopt IoT due to current complex design. Factories are engaging themselves to increase their operational excellence by implementing automation solutions and better communication protocols, thereby focusing to become smart factories. One of the basic requirements considered in discrete and process industries is the sharing and documentation of information within an organization with regard to the industry's best practices and day-to-day operations. The use of sensors and other cloud-connected systems helps in the automatic capturing of data. However, the current complex design due to the use of distinct data collection routines has made it difficult for manufacturers as well as the logistics providers to adapt the IoT-based technology.
Cognex, Datalogic, KEYENCE, OMRON, SICK, Banner Engineering, IPG Photonics, ifm, Leuze electronic, Honeywell International, Zebra Technologies, DENSO, and CASIO COMPUTER.