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Smartphone Revolution Propelling Growth In Automatic Identification And Data Capture Market Through Image Recognition: A Leading Driver Behind Automatic Identification And Data Capture Market Expansion in 2025
Automatic Identification And Data Capture
What Will the Automatic Identification And Data Capture Industry Market Size Be by 2025?
Over the past few years, the size of the automatic identification and data capture market has seen a swift expansion. This market is projected to swell from $65.93 billion in 2024 to $74.68 billion in 2025, boasting a compound annual growth rate (CAGR) of 13.3%. The exponential growth witnessed in the historical period can primarily be ascribed to factors such as advancements in manufacturing process automation, changes in the retail industry, improved patient safety in healthcare, progression in mobile computing technology, a heightened emphasis on data accuracy, efficient asset tracking and management, and the drive towards reducing data entry costs.
What's the Long-Term Growth Forecast for the Automatic Identification And Data Capture Market Size Through 2029?
In the upcoming years, a rapid surge in growth is anticipated for the automatic identification and data capture market, which is projected to extend to $141.31 billion by 2029 at a compound annual growth rate of 17.3%. This projected growth during the forecast period can be associated with factors such as the rapid emergence of online retail, globalization and cross-border commerce, the rise of smart cities and public services, the increased acceptance of voice recognition, Industry 4.0 and smart manufacturing, and enhanced management of healthcare patient's data. The major trends forecasted for this period include RFID technology, mobile AIDC solutions, progressive strides in OCR technology, the application of blockchain for data security, contactless and hands-free solutions, collaborations across various industries, and the integration of the Internet of Things.
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What Are the Key Growth Drivers Fueling the Automatic Identification And Data Capture Market Expansion?
There is an anticipation of growth in the automatic identification and data capture market driven by the increased use of smartphones for image recognition. These handheld devices possess unique technologies that can detect anything of value to consumers or companies, including individuals, buildings, geographic settings, symbols, among other things. The employment of smartphones for image identification can amplify automatic identification leading to heightened data protection and the gathering and assessment of data. For instance, the GSM Association, a UK-based organization representing global mobile network operators, reported that the number of mobile service subscribers increased to 5.5 billion in 2022. This figure is expected to hit the 70% mark by 2025. Therefore, the escalated use of smartphones for image recognition is projected to boost the automatic identification and data capture market.
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What Are the Key Trends Driving Automatic Identification And Data Capture Market Growth?
Collaboration is a predominant trend in the automatic identification and data capture market. Several market leaders are forming partnerships to employ their combined resources and make inroads into new markets. For example, in May 2022, CipherLab, a US-based organization that fabricates Automatic Identification and Data Capture/Collection products and systems, collaborated with SATO. Through this joint venture, CipherLab will utilize the combined picking and checking system solutions to enhance logistic performance and increase efficiency in warehouse and product management. SATO, also based in the US, is known for its comprehensive labelling and auto-identification solutions. Additionally, in December 2021, Intek and Minerva, two enterprises under the SencorpWhite umbrella - a US-based manufacturer, forged a partnership with CipherLab. This alliance will allow each entity to offer warehouse and manufacturing firms a wider assortment of software and mobile solutions. CipherLab, set in the US, is renowned for its production of Automatic Identification and Data Capture/Collection products and systems.
How Is the Automatic Identification And Data Capture Market Segmented?
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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Which Companies Are Leading the Charge in Automatic Identification And Data Capture Market Innovation?
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
Which Regions Are Leading the Global Automatic Identification And Data Capture Market in Revenue?
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.
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