Automatic Identification and Data Capture Market Report 2031 by Segments, Geography, Dynamics, Recent Developments, and Strategic Insights

The automatic identification and data capture market size is projected to reach US$ 121.56 billion by 2031 from US$ 51.96 billion in 2023. The market is expected to register a CAGR of 11.2% in 2023–2031. The mounting e-commerce industry and rising adoption of AIDC solutions across various industries are likely to remain key to automatic identification and data capture market trends.

Automatic Identification and Data Capture Market Analysis

The automatic identification and data capture (AIDC) solution improved accuracy, precision, and seamless operation have led to its acceptance across a range of industries. The market is predicted to grow as a result of factors such as the growing need to decrease manual data entry and capture errors, advancements in AIDC technology, and a rise in the use of sophisticated AIDC systems. Growing smartphone QR scanning and creative, affordable solutions should drive market expansion. Additionally, the demand for AIDC products is probably going to be driven by factors like the quickly expanding retail, consumer goods, and e-commerce sectors.

Automatic Identification and Data Capture Market Overview

Automatic Identification and Data Capture (AIDC) refers to a broad range of technologies that collect information from a person, object, image, or sound without requiring manual data entry.  AIDC systems manage inventory, delivery, assets, security, and documents. AIDC systems are used in a variety of sectors, including distribution, manufacturing, transportation, medicine, government, and retail. AIDC applications are typically classified into one of three categories: source identification and validation, tracking, and system interfaces.

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Automatic Identification and Data Capture Market: Strategic Insights

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Automatic Identification and Data Capture Market Drivers and Opportunities

Rise in the e-commerce industry to Favor Market

Products that automatically identify and capture data, such as wearables, radio frequency identification (RFID) systems, and barcoding solutions, are essential to warehouse management and the e-commerce sector. The e-commerce sector benefits from the use of AIDC technology in terms of automatically identifying items, gathering highly accurate and precise data about them, and electronically entering this data into the computer system. With the technology, processes, accounts, inventory, and human resources are all properly tracked, which contributes to increased overall productivity and operational efficiency. Barcode scanners, handheld and fixed-position laser scanners, rugged tablets, and imagers, among other gadgets, are the most often used tools for data identification and capture.

Need of AIDC solution in the Logistics and Supply Chain Industry

Due to market competency and a desire to keep up with expanding industrial needs, the significance of material tracking and increased throughput has significantly increased. The industries require a systematic approach to gather and process the data in order to streamline the manufacturing and warehousing process and eliminate the errors associated with it. Market players provide a range of solutions for material tracking, asset tracking, warehouse management, work-in-process tracking, inventory management, and more, fulfilled it. For example, Unipro Tech Solutions employs IoT and automatic identification and data capturing (AIDC) technologies in the logistics and supply chain industry so that their personnel can precisely pick, process, and track the items.

Automatic Identification and Data Capture Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automatic identification and data capture market analysis are offering, product, and industry vertical.

• Based on the components, the market is segmented into hardware, software, and services. The hardware segment held a larger market share in 2023.
• By product, the market is segmented into barcode products, magnetic stripe cards, smart cards, OCR systems, RFID products, and biometric systems. The RFID products segment is expected to grow with the highest CAGR.
• By industry vertical, the market is segmented into BFSI, retail & e-commerce, manufacturing, healthcare, government, transportation & logistics, and others. The retail & e-commerce segment is expected to grow with the highest CAGR.

Automatic Identification and Data Capture Market Share Analysis by Geography

The geographic scope of the automatic identification and data capture market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

In terms of revenue, North America accounted for the largest automatic identification and data capture market share in 2023. North America is an early adopter of technological solutions which leads to its soaring market share. The growth in the e-commerce industry leads to market growth. The need for cost-effective and error-free data solutions for data entry purposes drives North America's automatic identification and data capture market share.

Automatic Identification and Data Capture Market Regional Insights

The regional trends and factors influencing the Automatic Identification and Data Capture Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automatic Identification and Data Capture Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Automatic Identification and Data Capture Market Market Report Scope

Market Players Density: Understanding Its Impact on Business Dynamics

The Automatic Identification and Data Capture Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Automatic Identification and Data Capture Market are:

1. Bluebird, Inc.
2. CipherLab Co., Ltd.
3. Cognex Corporation
4. Datalogic S.p.A
5. Denso Wave Inc.
6. Honeywell International Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Automatic Identification and Data Capture Market News and Recent Developments

The Automatic Identification and Data Capture Marketis evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In April 2023, CipherLab, a global leader in scanning, mobile computing, and business process design, announced the launch of its new RS36 Touch Mobile Computer. This versatile and pocketable handheld terminal is the successor to the highly successful RS35 and offers a wealth of design and functionality features. The RS36 Touch Mobile Computer might be small enough to fit in the palm but it packs a punch when it comes to streaming workflows and improving efficiency. Built on Android 12 with a commitment to Android 14, the RS36 provides a familiar and user-friendly interface that shortens the learning and onboarding process. (Source: CipherLab, Press Release, 2023)
• In November 2023, Newland AIDC, a leader in the field of automatic identification and data capture, launched its latest innovation – the NLS-FM3280. This two-in-one fixed-mount barcode scanner is not just a leap forward in barcode scanning technology; it's a multifunctional system that integrates the convenience of Near-Field Communication (NFC) with superior barcode scanning capabilities. Designed to meet the evolving needs of diverse industries, the FM3280 stands out as a versatile and robust solution for data capture challenges. (Source: Newland AIDC, Press Release, 2023)

Automatic Identification and Data Capture Market Report Coverage and Deliverables

The “Automatic Identification and Data Capture Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles