What is the global market size of Automatic Identification And Data Capture Market?

Global Automatic Identification And Data Capture Market size was valued at USD 47.95 billion in 2021 and is poised to grow from USD 54.34 billion in 2022 to USD 131.48 billion by 2030, growing at a CAGR of 11.7% in the forecast period (2023-2030).

Automatic Identification And Data Capture Market Size, Share, Growth Analysis, By Product(Smart cards (Contact-Based Smart Cards, Contactless Smart Cards), RFID Systems (RFID Scanners, RFID Tags), By Offering(Hardware, Software, Services), By Vertical(Manufacturing (Smartphone Manufacturers, Automobile Manufacturers, Food & Beverage Companies), Retail (Warehousing and Distribution Centers), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45E2175 | Region: Global | Published Date: October, 2024
Pages: 220 | Tables: 125 | Figures: 77

Automatic Identification And Data Capture Market Dynamics

Automatic Identification and Data Capture Market Driver

The major drivers that are anticipated to propel the growth of the Automatic Identification and Data Capture market over the course of the analysis period include the expanding global e-commerce sector, rising smartphone use for QR code scanning and image recognition, rising adoption of AID solutions due to their capacity to reduce transaction and queue times, and offer users greater convenience when making small-value payments.
Other factors that are anticipated to spur the growth of the Automatic Identification and Data Capture market during the forecast period include banking and financial institutions' rapid adoption of these solutions to guarantee customer safety and security as well as data privacy.

Automatic Identification and Data Capture Market Restraint

One of the key factors anticipated to restrict the growth of the automatic identification and data capture market during the forecast period is the high cost associated with installing these systems. Additionally, over the course of the analysis period, the market for automatic identification and data capture is expected to face challenges due to the rise in worries about malware attacks and security breaches.

Automatic Identification And Data Capture Market Report Snapshots

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Global Automatic Identification and Data Capture Market size was valued at around USD 52.9 billion in 2022 and is expected to rise from USD 60.8 billion in 2023 to reach a value of USD 184.7 billion by 2031, at a CAGR of 14.9% over the forecast period (2024–2031).

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. 'Honeywell International Inc ', 'Datalogic S.p.A. ', 'Zebra Technologies Corporation ', 'SICK AG ', 'Cognex Corporation ', 'Toshiba Corporation ', 'Getac Technology Corporation ', 'Dell Technologies Inc. ', 'Samsung Electronics Co., Ltd. ', 'Panasonic Corporation ', 'Avery Dennison Corporation ', 'Seiko Epson Corporation ', 'NCR Corporation ', 'Casio Computer Co., Ltd. ', 'Denso Wave Incorporated ', 'M3 Mobile Co., Ltd. ', 'SATO Holdings Corporation ', 'Synaptics Incorporated ', 'NXP Semiconductors N.V. ', 'NEC Corporation'

The major drivers that are anticipated to propel the growth of the Automatic Identification and Data Capture market over the course of the analysis period include the expanding global e-commerce sector, rising smartphone use for QR code scanning and image recognition, rising adoption of AID solutions due to their capacity to reduce transaction and queue times, and offer users greater convenience when making small-value payments.

Because of inaccurate data capture, human error, or deliberate evasion, governments worldwide frequently experience significant losses in exercise and customs. Government organizations from all over the world have created and put into effect a number of laws to improve the adoption of AIDC technologies in a variety of industries. These rules and regulations are intended to assist organizations in ensuring better information visibility, increasing operational efficiency, lowering operating costs through accurate data capture and a reduction in data entry errors, and raising customer satisfaction.

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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Automatic Identification And Data Capture Market Dynamics

Automatic Identification And Data Capture Market Report Snapshots

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