Automatic Identification and Data Capture (AIDC) Market By Offering (Hardware, Software, Services); By Product (Smart cards, Optical character recognition (OCR) systems, Voice-directed WMS, Heads-up displays, Wearables, RFID systems, Barcoding solutions, Biometric systems, Magnetic stripe cards, VR solutions, Google Glass, Others); By End-Use Industry (Manufacturing, Retail, Banking & Finance, Healthcare, Government, Commercial, Transportation & Logistics, Hospitality, Energy & power, Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Automatic Identification and Data Capture (AIDC) Market Key Highlights
The Global Automatic Identification and Data Capture (AIDC) Market is expected to grow from USD 40.5 billion in 2021 to USD 135.4 billion by 2032, at a CAGR of 12.2% during the forecast period 2022-2032.
Automatic Identification and Data Capture (AIDC) Market: Overview and Definition
Automatic Identification and Data Capture (AIDC) is a set of technologies used for automatically identifying and tracking objects or data in a variety of industries such as retail, manufacturing, healthcare, and logistics. AIDC includes a range of technologies such as barcoding, radio-frequency identification (RFID), biometric identification, magnetic stripe cards, smart cards, and optical character recognition (OCR).
AIDC technology is used to collect data on products, assets, and people in real-time, which is then used for inventory tracking, supply chain management, and asset tracking. AIDC technology can be used in a variety of applications such as tracking medical supplies in hospitals, tracking packages in logistics, and scanning barcodes at a grocery store.
The AIDC market includes hardware such as barcode scanners, RFID readers, and biometric scanners, as well as software and services such as inventory management and asset tracking systems. The market is driven by the need for greater efficiency and accuracy in data collection and the increasing adoption of automation technologies in various industries.
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.
Automatic Identification and Data Capture (AIDC) Market Growth Drivers
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 (AIDC) Market Challenges
Implementation and integration issues: AIDC solutions often require significant infrastructure investments, such as upgrading IT systems and implementing new software. Integration with existing systems can also be a challenge, as different technologies may not be compatible with each other.
Security and privacy concerns: AIDC solutions collect and store sensitive data, such as personal information or transaction data. This data can be vulnerable to security breaches, which could lead to identity theft or financial fraud.
High costs: AIDC solutions can be costly, particularly for small and medium-sized businesses. The high costs of hardware, software, and implementation can be a barrier to entry for businesses looking to adopt AIDC technology.
Lack of standardization: There is no universal standard for AIDC technology, and different technologies may not be compatible with each other. This can make it difficult for businesses to implement AIDC solutions that work with their existing systems.
Limited range and accuracy of some technologies: Some AIDC technologies, such as barcodes, have limitations in terms of range and accuracy. This can lead to errors or the need for manual intervention, which can reduce the efficiency gains of using AIDC technology.
Automatic Identification and Data Capture (AIDC) Market Segmentation
- Smart cards
- Optical character recognition (OCR) systems
- Voice-directed WMS
- Heads-up displays
- RFID systems
- Barcoding solutions
- Biometric systems
- Magnetic stripe cards
- VR solutions
- Google Glass
By End-Use Industry
- Banking & Finance
- Transportation & Logistics
- Energy & power
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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
- Panasonic Corporation
- Honeywell International Inc.
- Unitech Electronics Co. Ltd.
- Opticon Sensors Europe
- IMPINJ Inc.
- Cognex Corporation
- Zebra Technologies Corporation
- Axicon Auto ID Ltd.
- Microscan System Inc.
- Toshiba Corporation
- NEC Corporation
- NXP Semiconductors
- Denso Wave
- M3 Mobile
- Newland EMEA
- Seagull Scientific Inc.
- Code Corporation
- Bluebird Inc.
- Sato Holdings Corporation
- JADAK Tech
- Better Online Solutions
- TSC Auto ID Technology Co. Ltd.
- Epson America Inc.
- Allien Technologies Corporation
- Avery Dennison Corporation
- Godex International
- Cardlogix Corporation
- Other Players
- In November 2020, Epson announced AIM North America (AIM NA), the industry association for the automatic identification and mobility (AIM) market, named Epson an AIM 2020 Organization of the Year for ColorWorks printers. The award was said to be presented in recognition of outstanding contributions to the Automatic Identification and Data Capture (AIDC) industry.
- In December 2020, Sole Source Capital LLC, an industrial-focused private equity firm providing capital to North American lower-middle market companies, announced that its portfolio company, Supply Chain Services, a premier provider of automatic identification and data capture (AIDC) and factory automation solutions to customers across North America, acquired Coridian Technologies, Inc., a leading provider of product identification and data collection solutions for the healthcare, manufacturing, and warehouse/distribution industries.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022 to 2032: 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:
- End-Use Industry
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Automatic identification and data capture (AIDC) Industry Report
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?