The market for automatic identification and data capture was worth US$ 48,453.0 million in 2022, and it is anticipated to grow to be worth US$ 132,722.0 million between 2022 and 2032, at a CAGR of 10.6%. The rise in smartphone use for image recognition and scanning QR codes can be ascribed to the growth of the automatic identification and data collection business. In the historical period of 2016–2021, the market for automatic identification and data capture experienced a CAGR of 9.3%.
Such systems referred as Automatic Identification & Data Capture are at the basis of developing trends such as Industrial Automation, Retail Automation and Biometric Authentication. Automatic Identification & Data Capture tools such as RFID, Barcode Scanners and Biometric systems are facing an upsurge in adoption under this scenario.
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Automatic Identification & Data Capture is a method of identification and detection of objects and data based on set of predetermined conditions. Software solutions, hardware components and devices such as Magnetic Stripes, Smart Cards and biometric readers are a part of Automatic Identification & Data Capture market.
Automatic Identification & Data Capture Market: Drivers & Challenges
Fast moving industry of e-commerce depends on the accuracy and speed of movement of merchandise. Moreover the e-commerce industry is becoming increasingly competitive where cost minimization is of paramount importance. This presents a lucrative opportunity for the Automatic Identification & Data Capture market to capitalize on.
Similarly Retail industry is also heavily investing on automation solutions built on top of Automatic Identification & Data Capture tools. This is helping Automatic Identification & Data Capture gain rapid penetration in retail markets.
A huge chunk of a retail outlet’s total sale is contributed by low value products and it is therefore economically unviable to use technologies such as RFIDs and 2D barcodes which are at the base of developments in Automatic Identification & Data Capture market. This is true for many other industries too where the cost of large scale implementation is impeding the growth of Automatic Identification & Data Capture Market.
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Key Players
- RIOTEC Co. Ltd.
- ZIH Corp.
- Synaptics Incorporated
- CVISION Technologies Inc.
- SATO Holdings Corporation
- Toshiba TEC Corporation
Key Segments Profiled in the Automatic Identification and Data Capture Industry Survey
Automatic Identification and Data Capture Market by Component:
- Automatic Identification and Data Capture Hardware
- RFID Reader
- Barcode Scanner
- Smart Cards
- Magnetic Ink Character Recognition Devices
- Optical Character Recognition Devices
- Biometric Devices
- Automatic Identification and Data Capture Software
- Automatic Identification and Data Capture Services
- Integration & Installation Services
- Support & Maintenance Services
Automatic Identification and Data Capture Market by End User:
- Automatic Identification and Data Capture for Transportation
- Automatic Identification and Data Capture for Logistics & Warehouse
- Automatic Identification and Data Capture for Courier & Postal Services
- Automatic Identification and Data Capture for Retail
- Automatic Identification and Data Capture for E-Commerce
- Automatic Identification and Data Capture for FMCG
- Automatic Identification and Data Capture for Manufacturing
- Automatic Identification and Data Capture for Healthcare
- Automatic Identification and Data Capture for Other End Users (Toll Plaza, etc.)
Automatic Identification and Data Capture Market by Region:
- North America Automatic Identification and Data Capture Market
- Latin America Automatic Identification and Data Capture Market
- Europe Automatic Identification and Data Capture Market
- Asia Pacific Automatic Identification and Data Capture Market
- Middle East & Africa Automatic Identification and Data Capture Market
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