Press release
Automatic Identification And Data Capture Market Size Projected To Reach $141.31 Billion By 2034 With A Cagr Of 17.3%
Automatic Identification And Data Capture
What Is the Projected Growth of the Automatic Identification And Data Capture Market?
The market size for automatic identification and data capture has seen swift expansion in the past few years. It is projected to rise from $65.93 billion in 2024 to $74.68 billion in 2025, indicating a compound annual growth rate (CAGR) of 13.3%. The historical growth of this market is linked to the automation of manufacturing processes, overhauls in the retail industry, enhanced patient safety in healthcare, developments in mobile computing, heightened emphasis on data precision, management and tracking of assets, and cuts in data entry related costs.
Expectations are high for the automatic identification and data capture market to experience considerable growth in the coming years, with projections suggesting an increase to $141.31 billion by 2029, representing a compound annual growth rate (CAGR) of 17.3%. Factors contributing to this predicted growth within the forecast period include the rapid expansion of online retail, the increase of globalization and cross-border commerce, the development of smart cities and public services, the rising implementation of voice recognition, as well as progressions in Industry 4.0 and smart manufacturing, and healthcare patient data management. Notable trends within the forecast period encompass RFID technology, mobile AIDC alternatives, enhancements in OCR technology, the application of blockchain for data security, the advent of contactless and hands-free solutions, cross-industry cooperation, and IoT integration.
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What Are the Different Automatic Identification And Data Capture Market 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
Subsegments:
1) By Hardware: Barcode Scanners, RFID Readers, Mobile Computers, Fixed Mount Scanners, Printers (Barcode And RFID)
2) By Solutions: Inventory Management Solutions, Asset Tracking Solutions, Workforce Management Solutions, Data Management Solutions
3) By Services: Consulting Services, Implementation Services, Maintenance And Support Services, Training Services
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What Are the Primary Drivers Shaping the Automatic Identification And Data Capture Market?
The growth of the automatic identification and data capture market is projected to be driven by an increase in smartphone usage for image recognition. Smartphones come equipped with technology that can identify a variety of valuable items for consumers and businesses, such as individuals, structures, sites, logos, amongst others. The use of smartphones for image acknowledgement can bolster automatic identification, enhancing data protection and the collation and examination of data. For example, the GSM Association, a UK-based trade union that represents mobile network operators internationally, reported that the number of mobile service subscribers increased to 5.5 billion in 2022. This figure is expected to constitute 70% of market share by 2025. Therefore, the escalating use of smartphones for image reconnaissance is set to stimulate the automatic identification and data capture market.
Which Companies Are Leading in the Automatic Identification And Data Capture Market?
Major companies operating in the automatic identification and data capture market 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
What Are the Major Trends Shaping the Automatic Identification And Data Capture Market?
Collaboration is a major shift currently being observed in the automatic identification and data capture marketplace. Established market participants are forging partnerships to harness each other's assets and broaden their reach in untapped markets. For example, CipherLab, an American firm specialising in Automatic Identification and Data Capture/Collection products and systems, joined forces with SATO in May 2022. This alliance allows CipherLab to utilise integrated selection and verification system solutions, enhancing logistics performance and bolstering warehouse and product management efficiency. SATO is an American firm offering comprehensive labelling and auto-identification solutions. Furthermore, in December 2021, CipherLab entered into a partnership with Intek and Minerva, which are business units of the US-based manufacturer, SencorpWhite. This cooperation empowers each entity to offer a wider array of software and mobile solutions to warehouse and manufacturing businesses. CipherLab is an American company that manufactures Automatic Identification and Data Capture/Collection products and systems.
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What Are the Top Revenue-Generating Geographies in the Automatic Identification And Data Capture Market?
Asia-Pacific was the largest region in the automatic identification and data capture market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global automatic identification and data capture market share during the forecast period. The regions covered in the automatic identification and data capture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automatic Identification And Data Capture Market?
2. What is the CAGR expected in the Automatic Identification And Data Capture Market?
3. What Are the Key Innovations Transforming the Automatic Identification And Data Capture Industry?
4. Which Region Is Leading the Automatic Identification And Data Capture Market?
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