Automatic Identification and Data Capture Market by Technology (Barcode, RFID, Biometrics, and Smart cards), Product (Scanner, Mobile Computers, and Software), End-User (Logistics, Healthcare, BFSI, Manufacturing, and Retail)- Global Forecast to 2027
Redding, California, Sept. 16, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled “Automatic Identification and Data Capture Market by Technology (Barcode, RFID, Biometrics), Product (Scanner, Printer, Mobile Computers), End User (Logistics, Healthcare, Banking, Manufacturing, and Retail), and Geography - Global Forecast to 2027”, published by Meticulous Research®, the automatic identification and data capture (AIDC) market is expected to grow at a CAGR of 9.8% from 2020 to 2027 to reach $103.5 billion by 2027.
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Automatic Identification and Data Capture (AIDC) is a broad category of technologies used to collect information from an individual, object, image, or sound without manual data entry. AIDC systems are used to manage inventory, delivery, assets, security, and documents. Sectors that use AIDC systems include distribution, manufacturing, transportation, medicine, government and retail, among many others. The AIDC technologies are used for inventory and asset management, security, and workflow management functions across several industries.
The consistently booming e-commerce industry backs the growth of this market along with increasing acceptance for online shopping, technological advancements, and widening applications of AIDC technologies in retail, transportation & logistics, manufacturing, BFSI, and healthcare devices, and rising government legislation on the use of AIDC technology. Moreover, rising acceptance of advanced AIDC technologies and increasing consumer demand for AIDC devices; increasing usage of smartphones; and constantly rising need to eliminate manual data capture & entry errors are also fueling the growth of this market. Furthermore, the COVID-19 outbreak has further accelerated the need for contactless AIDC devices, including biometric & smart cards. However, the cost involved in deploying biometric and RFID systems obstructs the growth of this market to a certain extent.
The Impact of COVID-19 on the Automatic Identification and Data Capture (AIDC) Market
The COVID-19 pandemic adversely hit many economies around the globe. The spread of COVID-19 has had an unprecedented impact on industrial structures. The pandemic had macro challenges, such as distorted supply chains, a decentralized workforce, and the responsibility of providing safe and healthy employee workspaces.
The automatic identification and data capture (AIDC) industry suffered considerable losses owing to COVID-19 in the first quarter of 2020 (1Q20). Leading players operating in the AIDC market witnessed a decrease in net sales in the first quarter of 2020. For instance, Zebra Technologies Corporation (U.S.) registered a decrease of USD 14 million or 1.3% in net sales in the first quarter of 2020. Similarly, DENSO Corporation (Japan) registered a decrease of 3.9% for its fiscal year 2019, ending March 2020, from the previous year. However, the considerable growth in the second quarter gave strong revenue generation and anticipated minimal impact on the market.
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Several popular touchless authentication methods are in use, including palm scans, where users hold their palm about six inches above the reader, and voice recognition and iris scans. Contactless biometric systems are becoming vital in the post-COVID world. Several biometric technology companies are eying this crisis as a new opportunity to restructure and revisit their existing strategies or product portfolios. The current scenario has created tremendous demand for the healthcare industry due to the easy integration of this technology with various healthcare devices & platforms to enhance patient safety, support staff & patient workflow, and increase investment in the healthcare industry. In addition, the BFSI sector is also operating as an essential business during this pandemic, which also helps AIDC companies return to the growth track through the BFSI sector.
Rising government legislation on the use of AIDC technology to drive the demand for these systems
In the last decade, government agencies across the globe have implemented various legislations to improve the adoption of AIDC technologies in various industries to overcome the challenge of increasing data entry errors and related operating expenditure. These rules and regulations are aimed at helping the organizations to ensure better visibility of information, improve the efficiency of operations, reduce the operating expenditure through accurate data capture and reduced data entry errors, and improve customer satisfaction.
Key findings in the AIDC market study
To provide efficient analysis, Meticulous Research® has segmented the overall AIDC market based on technology (barcode, RFID, biometrics, smart cards, and optical character recognition), product (scanners, printers, biometric scanners, mobile computers, consumables, and software), end user (transportation & logistics, healthcare, banking and financial, manufacturing, and retail), and geography (Asia-Pacific, Europe, North America, Latin America, and the Middle East and Africa).
Based on technology, the automatic identification and data capture market is mainly segmented into barcode, RFID, biometrics, smart cards, magnetic stripe, and optical character recognition. The biometrics segment is projected to grow at the highest CAGR during the forecast period. The high growth of this segment is mainly attributed to the rising adoption of biometric authentication devices, particularly in forensic, international border crossing, and automobile; technological advancements; and easy integration with other devices.
Based on product type, the automatic identification and data capture market is mainly segmented into scanners & readers, printers & recorders, biometric scanners, mobile computers, consumables, and software. The biometric scanners segment accounted for the largest share of the automatic identification and data capture market in 2020. The large share of this segment is mainly attributed to increasing demand for biometric technologies & their integration in number of scanners, high adoption rate together with rapid advancement in biometric technologies, and increasing demand in high-level security and access management applications.
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Based on end user, the automatic identification and data capture market is mainly segmented into transportation & logistics, healthcare, banking and financial, manufacturing, retail, and other end-users. The transport & logistics segment accounted for the largest share of the automatic identification and data capture market in 2020. The large share of this segment is mainly attributed to the high degree integration of AIDC technology for logistic applications, the growing need to improve speed and accuracy of delivery services, the increasing demand for a variety of AIDC solutions in the transport & logistics industry, and increasing usage of AIDC technology for supply chain management, shipment tracking, and trucking transportation.
Geographically, the global AIDC market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific region accounted for the largest share of the global automatic identification and data capture market in 2020. The large share of this region is primarily attributed to the easy availability of AIDC technology-enabled devices, rising consumption capacities with a large population base, and increasing government investments for security, particularly for BFSI, healthcare, and retail industry. Moreover, automatic identification and data capture technology companies and their revolutionary forthcoming product appearances are also expected to support the growth of automatic identification and data capture technologies.
The key players operating in the global automatic identification and data capture market are Zebra Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Newland EMEA (Netherlands), Epson America, Inc. (U.S.), Seagull Scientific, Inc. (U.S.), NEC Corporation (Japan), Datalogic S.P.A. (Italy), Alien Technologies Corporation (U.S.), SATO Worldwide (Japan), Toshiba Tec Corporation (Japan), Microscan System, Inc. (U.S.), Jadak (U.S.), B.O.S. Better Online Solutions Ltd. (Israel), Unitech Electronics Co. Ltd. (Taiwan), TSC Auto Id Technology Co. Ltd. (Taiwan), Cognex Corporation (U.S.), Opticon (Netherlands), Code Corporation (U.S.), Bluebird Inc. (South Korea), Avery Dennison Corporation (U.S.), Godex International (Taiwan), Cardlogix Corporation (U.S.), Impinj, Inc. (U.S.), and Axicon Auto ID Ltd (U.K.), among others.
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Scope of the Report:
Automatic Identification and Data Capture Market, by Technology
Automatic Identification and Data Capture Market, by Product
Scanners & Readers
Pen Type Readers
Laser Barcode Scanners
CCD Barcode Scanners
Smart Card Readers
Magnetic Strip Readers
Optical Character Recognition (OCR)
Finger Print Recognition
Printers & Recorders
Dot Matrix Printers
Smart Card Printers
Magnetic Stripe Printers
RFID Tags & Sticker
Thermal Transfer Ribbon/Foil
Automatic Identification and Data Capture Market, by End User
Transport & logistics
Banking and Financial
Automatic Identification and Data Capture Market, by Geography
Rest of Asia-Pacific (RoAPAC)
Rest of Europe (RoE)
Rest of Latin America
Middle East & Africa
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