Press release
Global Automatic Identification & Data Capture (AIDC) Market Worth USD 71.74 Billion By 2022
Automatic Identification & Data Capture (AIDC) Market Size by Product Type (Barcode Printers, Barcode Verifiers, Barcode Scanners, RFID Devices, Magnetic Stripe Readers, Smart Card Readers, Biometrics, Optical Character Recognition, and Mobile Computers), by Vertical/Industry (Manufacturing, Retail, Transportation & Logistics, Banking & Financial, Healthcare, and Others) Global Opportunity Analysis and Industry Forecasts To 2022.
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The rising need for faster and error free data collection, improving operating efficiency, and growing need to reduce data entry error related operating costs are the major factors that significantly impacted the development in Automatic Identification & Data Capture (AIDC) market. Implementation of Global Automatic Identification & Data capture (AIDC) technology is helping various industries to keep electronic records by an accurate collection of data that has eliminated errors; and improved overall productivity & operation by keeping proper track of inventory, accounts, human resources, and overall operations of the organizations.
Following a comprehensive research on Global Automatic Identification & Data Capture (AIDC) Market and an in-depth analysis of the market scenario, the report carries out an impact analysis of the key industry drivers, restraints, trends, and opportunities, listed in the market dynamics segment. Growing need to eliminate manual data capture & entry errors, rising government legislative on the use of AIDC technology, technological advancements, growing e-commerce industry, and rising adoption of AIDC technology in healthcare sector are the key market drivers covered in the report which will support the industry growth in the forecast period. However, lack of awareness and high upfront investments associated with installation of certain Global Automatic Identification & Data Capture products such as RFID and biometric systems are the major pain points, restraining the adoption of this technology.
Market Dynamics
1. Drivers
1.1. Growing Need to Eliminate Data Capture & Entry Errors
1.2. Rising Government Legislatives on the Use of AIDC Technology
1.3. Growing E-Commerce industry
1.4. Technological Advancements.1.5. Other Drivers
2. Restraints
2.1. Lack of Awareness
2.2. High Cost involved in Deploying Biometric and RFID Systems
2.3. Other Restraints
3. Opportunities
3.1. Emerging Markets
3.2. Growing Healthcare Sector
3.3. Other Opportunities
4. Market Share Analysis, by Key Players
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On the basis of product type, biometric systems segment dominated the Global Automatic Identification & Data Capture market and is also expected to continue its dominance during the forecast period, owing to their rising adoption by various industries such as banking & financial institutes, government agencies, healthcare facilities, offices, and travel & immigration sector to improve overall security; to keep track of staff, patients, and customers; and for identification of individuals.
On the basis of industry/vertical, retail industry commanded the largest share in the Global Automatic Identification & Data Capture market, owing to the higher adoption of automatic identification & data capture technologies such as barcode & RFID for billing, supply chain management, staff & asset tracking, and replenishment ordering in the retail value chain. Moreover, with the growing urbanization and rising demand for various consumer goods, the retail industry is experiencing significant growth in various countries across the globe, thereby increasing the adoption of AIDC technologies in this sector.
An exhaustive analysis of the geographical scenario of the industry for the five major geographies: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa is included in the geographical analysis section.
These regions are further analyzed at a country level with the detailed qualitative and quantitative analysis. The geographical analysis provides detailed insights on the key trends of the industry in the listed regions & countries, identifying the demographic & economic impact, government & private investments, and regulatory scenario. The report identifies U.S. to be the largest market with more than 37% share of the market revenue of the industry in 2017, followed by Germany, Japan, and Canada. The geographical analysis section also comments on the key market players shaping the growth of the industry in the respective countries.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, with the help of its unique research methodologies, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa regions
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