USD 48.2 billion
Report ID: SQSG45E2038 | Region: Global | Published Date: December, 2022 | Pages: 165
Global Automatic Identification and Data Capture Market was valued at USD 48.2 billion in 2021, and it is expected to attain a value of USD 91.13 billion by 2028 with a CAGR of 11.2% over the forecast period (2022-2028).
The improved technique of automatic asset and object identification, information gathering, and data recording into computer systems is known as automatic identification and data capture (AIDC) or automatic data capture system. The management of assets, objects, deliveries, inventories, and documents across the manufacturing, distribution, retail, government, and healthcare sectors is another goal of AIDC systems. Additionally, automatic identification and data capture are thought to include technologies like radio frequency identification (RFID), optical character recognition (OCR), bar codes, biometrics, voice recognition, and QR codes (AIDC).
AIDC is a method created to collect outside data like voice, images, and videos. A transducer is used by AIDC to digitize and record real-world data. The additional categories that AIDC applications fall under include tracking validation, interfaces, and identification. Additionally, the demand for smartphones is expected to increase in the coming years, which will fuel the growth of the automatic identification and data capture market. The global market for automatic identification and data capture is also experiencing a boom.
Global Market Size
USD 48.2 billion
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The global automatic identification and data capture market is segmented on the basis of product, technology, end-user, offering, and region. Based on product, the market is segmented into scanner & reader, biometric scanners, printer & recorder and other segments. On the basis of technology, the market is bifurcated in barcode, RFID, biometrics, smart cards, magnetic strips, OCR. Based on end-user, the market is segmented into retail, manufacturing, transport & logistics, banking and financial, healthcare and other segments. Based on offering, the market is segmented into Hardware, Solutions and Services. Based on Region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Analysis by End-User
The industry's growth is anticipated to be led by the healthcare sector. The demand for the integration of AIDC tools in the current healthcare infrastructure is being driven by factors like the growing need for better care management, increasing patient safety, improving operational efficiency of the healthcare workforce, reducing medication errors, and shortening caregiver response times. Additionally, over the past ten years, a number of governments have put various laws into place around the world to encourage the use of AIDC technologies in the healthcare sector and address the problem of rising medication errors and their associated increases in healthcare spending.
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Asia Pacific would hold the largest market share for AIDC. During the forecast period, the AIDC market in Asia Pacific is anticipated to grow at the highest CAGR. Due to the increased purchasing power of the middle class, many retail and logistics companies are expanding their presence in the area, which has fueled the expansion of the automatic identification and data capture market there. Additionally, a number of key market players, including Panasonic (Japan), SATO (Japan), Toshiba (Japan), Godex (Taiwan), and Optoelectronics (Japan), are highly concentrated in the area, which is likely to fuel the expansion of the automatic identification and data capture market in Asia Pacific.
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To gain a competitive edge in the market for healthcare automatic identification and data capture, the market players are investing in strategies such as product launches, acquisitions, expansions, and collaborations. For instance, Datalogic S.p.A. introduced the Smart-VS. This device can precisely detect the presence or absence of components like caps, labels, and prints on filling lines, among others. Regarding the market for automatic identification and data capture in healthcare, the company widened its product portfolio.
Top Players Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global automatic identification and data capture market is segmented on the basis of product, technology, end-user, and region. The market for automatic identification and data capture (AIDC) is expected to reach US$ 93.4 billion. To increase product adoption, manufacturers are developing cutting-edge barcode scanners. The industry's growth is anticipated to be led by the healthcare sector. The demand for the integration of AIDC tools in the current healthcare infrastructure is being driven by factors like the growing need for better care management, increasing patient safety, improving operational efficiency of the healthcare workforce, reducing medication errors, and shortening caregiver response times. Asia Pacific would hold the largest market share for AIDC. During the forecast period, the AIDC market in Asia Pacific is anticipated to grow at the highest CAGR.
|Market size value in 2021||USD 48.2 billion|
|Market size value in 2028||USD 91.13 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Automatic Identification And Data Capture Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Automatic Identification And Data Capture Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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