Press release
Automatic Identification And Data Capture Market Report 2024: Size, Share, Forecast And Analysis
Automatic Identification And Data Capture Market
The automatic identification and data capture market size is expected to see rapid growth in the next few years. It will grow to $119.33 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rapid growth of online retail, globalization and cross-border trade, smart cities and public services, growing adoption of voice recognition, industry 4.0 and smart manufacturing, healthcare patient data management. Major trends in the forecast period include rfid technology, mobile aidc solutions, advancements in ocr technology, blockchain for data security, contactless and hands-free solutions, cross-industry collaboration, iot integration.
Market Overview -
Automatic identification and data capture refer to a technologically advanced method that instantly recognizes the items, gathers the pertinent information, and then stores and inputs the information into computer systems.
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Smartphone Revolution Propelling Growth In Automatic Identification And Data Capture Market Through Image Recognition
The rise in the utilization of smartphones for image recognition is expected to propel the growth of the automatic identification and data capture market. Smartphones are equipped with technologies that identify anything valuable to customers and businesses, including people, buildings, locations, logos, and other items. The utilization of smartphones for image recognition can enhance automatic identification for improved data security and data collection and analysis. For instance, according to a report published by The GSM Association, a UK-based trade association that advocates for mobile network operators globally, mobile service subscribers rose to 5.5 billion in 2022. That percentage is anticipated to reach 70% by 2025. Thus, the rise in the utilization of smartphones for image recognition will drive the automatic identification and data capture market.
Competitive Landscape -
Major companies operating in the automatic identification and data capture market report are Honeywell International Inc., Zebra Technologies Corporation, Datalogic SpA, Cognex Corporation, Sick AG, Panasonic Holdings Corporation, TSC Auto ID Technology Co. Ltd., Alien Technology Corporation, Bluebird Inc., CardLogix Corporation, Impinj Inc., Opticon Sensors Europe BV, Avery Dennison Corporation, Newland EMEA, Seagull Scientific Inc., Brady Corporation, Axicon Auto ID Limited, OMRON Corporation, Unitech Electronics Co. Ltd., NXP Semiconductors N.V., Synaptics Incorporated, Thales Group, Toshiba Corporation, NEC Corporation, B.O.S. Better Online Solutions LTD., Barco NV, Casio Computer Co.Ltd., CipherLab Co.Ltd., Denso Wave Incorporated, Epson America Inc., Fujitsu Limited
Partnerships Drive Innovation And Market Expansion In The Automatic Identification And Data Capture Industry
The partnership is a key trend in the automatic identification and data capture market. Major players in the market are entering into a partnership to leverage each other's resources and expand in new markets. For instance, in May 2022, CipherLab, a US-based manufacturer of Automatic Identification and Data Capture/Collection products and systems, partnered with SATO. Through this partnership, CipherLab will leverage the integrated picking and checking system solutions that will help boost logistical performance and improve warehouse and product management efficiency. SATO is a US-based company providing integrated labelling and auto-identification solutions. Moreover, in December 2021, Intek and Minerva, SencorpWhite businesses, a US-based manufacturing company, partnered with CipherLab. Through this partnership, each organisation can provide warehouse and manufacturing companies with a broader range of software and mobile solutions. CipherLab is a US-based manufacturer of Automatic Identification and Data Capture/Collection products and systems.
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Key Segments -
The automatic identification and data capture market covered in this report is segmented -
1) By Offering: Hardware, Solutions, Services
2) By Product: Scanner And Readers, Biometric Scanners, Printer And Recorders, Other Products:
3) By Technology: Biometrics, Radio Frequency Identification (RFID), Smart Cards, Optical Character Recognition (OCR), Other Technologies
4) By Industry Vertical: BFSI, Manufacturing, Retail, Transportation And Logistics, Hospitality, Healthcare, Government, Other Industries
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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