How Has The Automatic Identification And Data Capture Market Size Evolved In Recent Years?
The automatic identification and data capture market has seen considerable growth due to a variety of factors.
• The market size of the automatic identification and data capture has seen a quick expansion in the recent past. It is projected to rise from $65.93 billion in 2024 to $74.68 billion in 2025, showing a compound annual growth rate (CAGR) of 13.3%. The considerable growth during the historic period can be linked to the automation of manufacturing processes, transformation in the retail sector, enhancement in patient safety in the healthcare field, advancements in mobile computing, heightened emphasis on data accuracy, asset monitoring and administration, and reduction in data entry costs.
What are the Market Size and Expected Growth Rates for the Automatic Identification And Data Capture Market?
The Automatic Identification And Data Capture market is expected to maintain its strong growth trajectory in upcoming years.
• The market for automatic identification and data capture is predicted to experience swift expansion in the coming years, with an estimated worth of $141.31 billion in 2029 and a compound annual growth rate (CAGR) of 17.3%.
The surge during this period is likely due to the rapid growth of online retail, globalization and cross-border trade, smart cities and public services, increasing use of voice recognition, industry 4.0 and smart manufacturing, as well as healthcare patient data management. Significant trends anticipated during this period consist of RFID technology, mobile AIDC solutions, advancements in OCR technology, blockchain application for data security, contactless and hands-free solution, collaboration across various industries, and the integration of IoT.
Which Key Drivers Are Propelling The Automatic Identification And Data Capture Market's Growth?
The increased use of smartphones for image identification is set to boost the expansion of the automatic identification and data capture market. Smartphones come equipped with technologies that are capable of recognizing various elements of interest to consumers and businesses, such as individuals, buildings, locations, logos, and additional items. Employing smartphones for image recognition can amplify automatic identification, leading to heightened security, data collection and analysis. For example, a study conducted by the GSM Association, a UK-based advocacy group for global mobile network operators, indicated that mobile service subscribers increased to 5.5 billion in 2022. This figure is projected to reach 70% by 2025. Consequently, the upswing in using smartphones for image recognition will contribute to the growth of the automatic identification and data capture market.
What Are The Key Segments Within The Global Automatic Identification And Data Capture Market?
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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How Are New Trends Impacting The Size Of The Automatic Identification And Data Capture Market?
Major market players in the automatic identification and data capture market are increasingly entering into partnerships as a strategic trend to utilize mutual resources and venture into new markets. For instance, CipherLab, a US-based automatic identification and data capture systems firm, partnered with SATO in May 2022. This collaboration will allow CipherLab to exploit SATO’s integrated product picking and verification system solutions to enhance logistics and elevate the efficiency of warehouse and product management. SATO is an American company known for offering integrated labeling and auto-identification solutions. Additionally, in December 2021, CipherLab also joined hands with Intek and Minerva, subsidiaries of US-based manufacturing business SencorpWhite. Through this strategic partnership, each company will be equipped to offer a wider array of software and mobile solutions to manufacturing and warehouse companies. CipherLab specializes in creating automatic identification and data capture/collection products and systems in the US.
Who Are the Key Players In The Automatic Identification And Data Capture Market?
Major companies operating in the automatic identification and data capture market include:
• 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 Regional Insights Into 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.
