Automatic Identification and Data Capture Market Report 2031
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
Market Size Value in US$ 34,342.36 Million in 2019 Market Size Value by US$ 78,654.15 Million by 2027 Growth rate CAGR of 10.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Automatic Identification and Data Capture Market: Strategic Insights
| Market Size Value in | US$ 34,342.36 Million in 2019 |
| Market Size Value by | US$ 78,654.15 Million by 2027 |
| Growth rate | CAGR of 10.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Offering , Product , Industry Vertical
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The global automatic identification and data capture market was estimated to be US$ 51.96 billion in 2023 and is expected to grow at a CAGR of 11.2% during the forecast period 2023 - 2031.
The growing e-commerce industry and rising adoption of AIDC solutions across various industries are the major factors that propel the global automatic identification and data capture market.
Soaring demand for wearable devices is anticipated to play a significant role in the global automatic identification and data capture market in the coming years.
The key players holding majority shares in the global automatic identification and data capture market are Bluebird, Inc.; CipherLab Co., Ltd.; Cognex Corporation; Datalogic S.p.A; and Zebra Technologies Corporation.
The global automatic identification and data capture market is expected to reach US$ 121.56 billion by 2031.
The incremental growth expected to be recorded for the global automatic identification and data capture market during the forecast period is US$ 69.60 billion.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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