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Automatic identification and data capture (AIDC) also popularly known as "Automatic Identification", "Auto-ID" and "Automatic Data Capture" refers to the method of automatically identifying objects or images, collecting data about them, particularly through analysis of images, sounds or video and entering them directly into computer systems on discrete, packaged or containerized items, without human intervention. This is done quickly by converting the actual image or a sound into a digital file with the help of a transducer.
AIDC technologies include QR codes, bar codes, radio frequency identification (RFID), biometrics, magnetic stripes, optical character recognition (OCR), smart cards, and voice recognition, weighing and cubing devices.
AIDC devices are used to automatically & accurately gather information for several applications and are used for inventory and asset management, security, managing documents, workflow management across several industries, including retail, manufacturing, distribution, transportation & logistic, government, medical, hospitality, government and many others.
The global AIDC market is estimated to register growth at a robust CAGR in the next few years.
The growth of this market is attributed towards major pertaining factors including but not limited to; the growing global e-commerce industry, the increasing need and demand for AIDC technologies to eliminate manual data entry, associated errors, minimize queuing and transaction time and provide greater convenience to users in making small-value payments, the growing sense of data security globally, increasing use of smartphones for QR code scanning and image recognition, technological advancements in AIDC technologies, growing government legislation on the usage of these technologies, surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy and also in the healthcare and the BFSI sectors etc.
The biometric single sign-on (SSO) concept is gaining increased acceptance and popularity in enterprises and organizations demanding greater security. Players in the automatic identification and data capture (AIDC) market are capitalizing on incremental opportunities using this concept to eliminate the need to remember passwords and others.
Moreover, the rising acceptance of AIDC technology, increasing investment in the healthcare industry, the growing need for innovative medical devices and the increasing popularity of contactless AIDC devices are also expected to further contribute to the growth of this market.
Furthermore, the increasing demand for biometric technology, including face recognition, voice recognition, and IRIS recognition, and contactless smart card and fingerprint readers, is gaining increased prominence all around the world.
However, factors such as high deployment and installation costs associated with automatic identification and data capture solutions and services, rising concerns associated with data security and breaches, repeated incidences of false positives, the lack of connectivity infrastructure and unwillingness to adopt advanced technologies, growing concerns related to stringent cyber data privacy, malware attacks and inaccuracy in the biometric system are hindering the growth of this market.
More importantly, the COVID-19 outbreak has impacted the sales of AIDCs globally. It has posed both opportunities and restraints for this market. With that said, the global healthcare system is still very active because of the increasing number of patients and which is expected to have a positive impact on the demand for AIDCs.
AUTOMATIC IDENTIFICATION AND DATA CAPTURE MARKET SEGMENTATION:
By End-Use Industry:
The Asia Pacific region is currently the largest regional market for AIDCs and is expected to continue its dominance in the forthcoming years as well. The growth in this region can be well attributed to the significant presence of several market players along with retail and logistics industries and their expansion in the region to capitalize on the increased purchasing power of the middle-class people in the region, the availability and high-adoption of AIDC technology-enabled devices, increasing awareness and the increasing government legislation & investments, particularly in retail, healthcare, and manufacturing industries.
The North American region is accounted for substantial growth in this market owing to the rise in the adoption of new trends such as BYOD that can be used on-the-move, the presence of well-established players in the region, the consistently rising need for technological advancements to cater to the ever-growing industrial applications etc.
The European region followed by the South American, and Middle East & African regions are also expected to account for steady growth in this market from 2021 after being severely hit and facing huge declines in their industrial sector and others due to the COVID-19 outbreak.
FEW KEY PLAYERS IN AUTOMATIC IDENTIFICATION AND DATA CAPTURE MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Automatic identification and data capture (AIDC) market by the following segments:
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Key Questions Answered in the Global Automatic identification and data capture (AIDC) Industry Report
The report offers a comprehensive insight on the Automatic Identification and Data Capture (AIDC) Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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