Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview 2023-2028:

The global automatic identification and data capture (AIDC) market size reached US$ 49.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 106.5 Billion by 2028, exhibiting a growth rate (CAGR) of 12.6% during 2023-2028. Rapid digitization, increasing automation, and the rising need for supply chain management represent some of the key factors driving the market.

Automatic identification and data capture (AIDC) refers to the process of automatically identifying and collecting data about objects, people, and transactions using barcodes, radio frequency identification (RFID), biometrics, optical character recognition (OCR), and magnetic stripes. It comprises various hardware and software products and services, including scanners, RFID readers, mobile computers, printers, software solutions, and consulting services. It enables real-time data capture and analysis, which allows businesses to make informed decisions and assist companies in responding to changing consumer needs and improving customer satisfaction and loyalty. It also facilitates enhanced visibility and traceability of products, assets, and transactions throughout the supply chain and aids in inventory management, reduces waste and shrinkage, and ensures compliance with regulatory requirements. Moreover, AIDC technologies, such as biometric authentication and smart cards, enhance security and prevent fraud by ensuring that only authorized personnel have access to sensitive data and systems. As it enhances convenience, AIDC is gaining traction across the globe.

Automatic Identification and Data Capture (AIDC) Market Trends:

Presently, the rising need for supply chain management in numerous industries is catalyzing the demand for identification and data capture technologies, such as barcodes, RFID tags, and QR codes to provide real-time tracking and tracing. This, in confluence with rapid digitization and the growing automation across industries, represents one of the key factors positively influencing the market across the globe. Apart from this, the introduction of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), in AIDC solutions to process, manage, store, and share data without human intervention and improve performance to provide more value to customers. Moreover, the increasing adoption of AIDC systems for data security in financial institutions is creating a favorable market outlook. In line with this, the burgeoning healthcare industry and the increasing utilization of AIDC for accurate capturing of data and enhanced operational efficiency are fueling the market growth. Furthermore, governments of various countries are implementing regulations for tracking and tracing pharmaceuticals. This, coupled with stringent policies for food safety, is stimulating the growth of the market worldwide.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global automatic identification and data capture (AIDC) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on offering, product type and vertical.

Offering Insights:

Hardware
Software
Services

The report has provided a detailed breakup and analysis of the automatic Identification and data capture (AIDC) market based on the offering. This includes hardware, software, and services. According to the report, hardware represented the largest segment.

Product Type Insights:

Barcode Scanners
Magnetic Stripe Cards
Smart Cards
Optical Character Recognition (OCR) Systems
RFID Products
Biometric Systems

A detailed breakup and analysis of the automatic identification and data capture (AIDC) market based on the product type has also been provided in the report. This includes barcode scanners, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID products, and biometric systems. According to the report, smart cards accounted for the largest market share.

Vertical Insights:

Manufacturing
Retail
Transportation and Logistics
Banking and Finance
Healthcare
Government
Others

A detailed breakup and analysis of the automatic identification and data capture (AIDC) market based on the vertical has also been provided in the report. This includes manufacturing, retail, transportation and logistics, banking and finance, healthcare, government, and others. According to the report, manufacturing accounted for the largest market share.

Regional Insights:

North America

United States
Canada

Asia Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America (the United States and Canada) was the largest market for automatic identification and data capture (AIDC). Some of the factors driving the North America automatic identification and data capture (AIDC) market included its aging population, technological advancements, high healthcare expenditure, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global automatic identification and data capture (AIDC) market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alien Technology LLC, Cognex Corporation, Datalogic S.p.A. (Hydra SpA), Epson America Inc. (Seiko Epson Corporation), Godex International Co Ltd., Honeywell International Inc., NEC Corporation, NXP Semiconductors N.V., Sato Holdings Corporation, Sick AG, Synaptics Incorporated, Toshiba TEC Corporation, TSC Auto ID Technology Co. Ltd., Zebra Technologies Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

How has the global automatic identification and data capture (AIDC) market performed so far, and how will it perform in the coming years?
What are the drivers, restraints, and opportunities in the global automatic identification and data capture (AIDC) market?
What is the impact of each driver, restraint, and opportunity on the global automatic identification and data capture (AIDC) market?
What are the key regional markets?
Which countries represent the most attractive automatic identification and data capture (AIDC) market?
What is the breakup of the market based on the offering?
Which is the most attractive offering in the automatic identification and data capture (AIDC) market?
What is the breakup of the market based on the product type?
Which is the most attractive product type in the automatic identification and data capture (AIDC) market?
What is the breakup of the market based on vertical?
Which is the most attractive vertical in the automatic identification and data capture (AIDC) market?
What is the competitive structure of the global automatic identification and data capture (AIDC) market?
Who are the key players/companies in the global automatic identification and data capture (AIDC) market?