Automatic Identification and Data Capture Market to Exceed $121.07 Billion by 2030 with 12.5% CAGR

According to a new report published by Allied Market Research, titled, "Automatic Identification And Data Capture Market by Offering, Product, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030," The automatic identification and data capture market size was valued at $37.18 billion in 2020, and is projected to reach at $121.07 billion by 2030, growing at a CAGR of 12.5% from 2021 to 2030.

𝐆𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 : https://www.alliedmarketresearch.com/request-sample/A13147

Automatic identification and data capture is an innovative technology that automatically identifies the asset, collects the related information, and directly store the data into the computer system. Further, the information stored by automatic identification and data capture in the form of video, image, and biometric is known as identification data.

However, the high risk of cybersecurity is impacting the growth of automatic identification and data capture system across government and private sectors. In addition, automatic identification and data capture convert the object data into a digital file by using a transducer before storing the data into the computer system.

Moreover, rise in e-commerce industry is expected to offer significant growth opportunities for the market in the coming years.

Surge in the e-commerce industry paired with rise in utilization of smartphones based QR codes and image recognition technology is driving the market growth. However, high cost associated with the automatic identification and data capture coupled with the high risk of concerns of malware attacks and security breaches is anticipated to restrain the automatic identification and data capture market share.

Further, surge in adoption of AIDC solutions to address human error coupled with government regulations for the adoption of AIDC solutions is expected to drive the need for automatic identification and data capture during the forecast period.

According to technology, the radio frequency identification (RFID) segment was the highest contributor to the market in 2020.

Rise in automation across healthcare and government sector is driving the automatic identification and data capture growth during the forecast period.

𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐍𝐨𝐰 : https://www.alliedmarketresearch.com/automatic-identification-and-data-capture-market/purchase-options

Emergence of COVID-19 has significantly impacted the global automatic identification and data capture industry. Delay caused for deployment and installation of automatic identification and data capture due to partial or complete lockdown in various regions of the world has significantly reduced the growth of automatic identification and data capture during the pandemic.

However, rise in demand for e-commerce platform solutions and smartphones propel the need for enhancing automatic identification and data capture market. Further, the government sector has seen growth potential in the deployment of automatic identification and data capture for biometric solutions and is expected to drive the automatic identification and data capture market analysis post-pandemic.

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐎𝐟 𝐓𝐡𝐞 𝐒𝐭𝐮𝐝𝐲 :

By offering, the solution segment led the highest automatic identification and data capture market share, in terms of revenue in 2020.

On the basis of technology, the smart cards segment is expected to exhibit the fastest growth in the automatic identification and data capture market forecast period.

Region wise, North America generated the highest revenue in 2020.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠 : https://www.alliedmarketresearch.com/purchase-enquiry/A13147

The key players operating in the automatic identification and data capture market analysis include Cognex Corporation, Datalogic S.p.A., Honeywell, NXP Semiconductors N.V., Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba, and Zebra Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 :

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𝐀𝐛𝐨𝐮𝐭 𝐮𝐬 :

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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This release was published on openPR.