Pune, 7, Dec, 2022: As per Maximize Market research, a global business research and consultancy firm, the total Automatic Identification and Data Capture Market was 46.31 Bn. in 2021 and is expected to grow at CAGR of 15.2 % over the forecast period to reach 143.65 Bn by 2029.
Automatic Identification and Data Capture Market Scope and Research Methodology
The study provides a comprehensive overview of the Automatic Identification and Data Collection market at global, regional, and country levels. Both primary and secondary data are analysed in this study to determine the projected market size and growth rate, as well as existing and future trends in the Automatic Identification and Data Collection market. Regional market analysis is performed at local, regional, and global levels to better understand market penetration, competitive structure, and price and demand analysis. To assist investors and prominent companies in making investment and strategic business decisions, the report also covers the strategies of key participants and provides an analysis of these plans based on industry growth.
The major market participants, which are listed by region, are examined in terms of their revenue, financial standing, portfolio, technological adoption, mergers and acquisitions, joint ventures, and strategic alliances. A list of recent market entrants is also given, together with details on their growth potential and expectations for the future. Such a study offers a fundamental overview of the Automatic Identification and Data Capture market, which can be utilised by industry participants, investors, stakeholders, followers, and new entrants to create marketing and investment strategies.
For a segment-wise analysis of the Automatic Identification and Data Capture Market, it is divided by Product, Offerings, Vertical, and Regions for understanding the factors affecting the market growth positively and negatively. The bottom-up approach was employed to validate the market size and its estimation by different segments. Data was collected employing both primary and secondary data collection methods. Surveys, administering questionnaires and telephonic interviews with industry specialists, market leaders, entrepreneurs, and marketing professionals were included in the primary methods. Secondary data was meticulously collected from a curated selection of sources for maximum reliability of the inferences. This includes official databases of various organizations and government sites, industry journals, white papers, annual reports, releases of product manufacturers and suppliers in the industry along with paid databases.
SWOT analysis was conducted to provide the strengths and weaknesses of the Automatic Identification and Data Capture Market while PESTLE was employed to understand the potential impact of the micro-economic factors affecting the Automatic Identification and Data Capture Market.
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Automatic Identification and Data Capture Market Overview
Automatic Identification and Data Capture (AIDC) is an industry term that describes the identification or direct collection of data into a computer system, programmable logic controller (PLC), or another microprocessor-controlled device without using a keyboard. AIDC technologies provide a reliable means not only to identify but also to track items. It is possible to encode a wide range of information, from basic item or person identification to comprehensive details about the item or person.
Major factors influencing the growth of AIDC solutions include the rapidly growing global e-commerce market, rising smartphone use for image recognition and QR code scanning, rising adoption of AIDC solutions due to their capacity to reduce transaction times and queues and offer users greater convenience when making small-value payments, and rising adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security as well as data privacy.
Automatic Identification and Data Capture Market Dynamics
Automatic identification and data capture (AIDC) offers many advantages, including lowering the cost and labour-intensiveness of data entry, preventing identification and data collection errors, speeding up the data collection process, and streamlining inventory management. These advantages have boosted AIDC’s adoption across a variety of end-use industries. While minimizing human labour, automatic identification and data capture efficiently monitor intricate supply chains, quality control, and inventory monitoring. The results in high-quality products while freeing up resources to concentrate on more productive and worthwhile tasks, which is expected to fuel the growth market automatic identification and data capture market over the forecast period.
The growth of the worldwide e-commerce sector is expected to drive the automatic identification and data capture market. The e-commerce and warehouse management sectors depend heavily on automatic identification and data capture technologies including barcoding, wearable, and radio frequency identification (RFID). AIDC technology assists the e-commerce industry in more ways than only automatically detecting products and gathering precise and accurate data about them for electronic entry into the computer system. Technology also aids in boosting overall production and operational efficiency by keeping track of inventories, accounting, human resources, and general operations.
Automatic Identification and Data Capture Market Regional Insights
In terms of revenue share, the APAC region dominated the market in 2021. The region’s automatic identification and data capture industry has grown as a result of the growing middle class’s increased purchasing power, which has led to the presence of many retail and logistical companies there. Barcode, RFID, and biometric technologies are currently expanding significantly throughout the Asia-Pacific across a number of sectors, including manufacturing, retail, transportation & logistics, healthcare, and BFSI. Followed by Asia Pacific, the North America region is expected to grow in the Automatic Identification and Data Capture Market in the forecast period.
Automatic Identification and Data Capture Market Segmentation
- Smart Cards
- RFID Systems
- Barcoding Solutions
- Biometric Systems
- Magnetic Stripe Cards
- Optical Character Recognition (OCR) Systems
- Voice-Directed WMS
- Heads-Up Displays
- VR Solutions
- Google Glass
- Transportation & Logistics
- Banking & Finance
- Energy & Power
Automatic Identification and Data Capture Market Key Manufacturers are:
- Bluebird Inc.
- Godex International
- Code Corporation
- Toshiba Tech Corporation
- SATO Worldwide
- JADAK Tech
- Opticon Sensors Europe B.V.
- IMPINJ Inc.
- Better Online Solutions
- TSC Auto ID Technology Co., Ltd.
- Avery Dennison Corporation
- Newland Europe B.V.
- Seagull Zebra Technologies Corporation
- Honeywell International Inc.
- Datalogic S.p.A.
- Axicon Auto ID Ltd.
- Micros Software System, Inc.
- Unitech Electronics Co. Ltd
- Epson America Inc.
- Allien Technologies Corporation
- SICK AG
Key questions answered in the Automatic Identification and Data Capture Market are:
- What is Automatic Identification and Data Capture?
- What is the growth rate of Automatic Identification and Data Capture Market for the forecast years?
- What is the nature of competition in Automatic Identification and Data Capture industry in developed and developing economies?
- Who are the key players in the Automatic Identification and Data Capture Market?
- Who are the market leaders in Automatic Identification and Data Capture in Europe?
- Who are the market leaders in Automatic Identification and Data Capture in USA and Canada?
- Who are the market leaders in Automatic Identification and Data Capture in India, China, Japan and South Korea?
- What are the factors affecting growth in the Automatic Identification and Data Capture Market?
- Who held the largest market share in Automatic Identification and Data Capture Market?
- What are the factors for the growth of Asia-Pacific region in Automatic Identification and Data Capture Market?
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- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Product, Offerings, Vertical and Region.
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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