Automatic Identification and Data Capture (AIDC) Market by Technology (Barcode, RFID, Biometrics), Product (Scanners, Printers, Mobile Computers), End-User (Transportation, Logistics, Healthcare, BFSI, Manufacturing, Retail) - Global Forecast to 2025
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The global automatic identification and data capture (AIDC) market is expected to grow at a CAGR of 12.6% from 2019 to 2025 to reach $100.5 billion by 2025. Automatic identification and data capture technologies identify, authenticate, record, communicate, and store information from discrete and packaged objects directly into computer systems. Using the AIDC technology, a piece of information can be assigned or gathered rapidly and precisely from the object or individual, and can be used in several applications including, inventory and asset management, and tracking & tracing throughout the supply chain.
The growth in the automatic identification and data capture market is primarily driven by several factors, such as increasing consumer demand for AIDC devices, rising government regulations mandating the use of AIDC technology, and rapidly expanding e-commerce industry. However, certain factors, such as high cost involved in deploying biometric & RFID systems and reluctance towards adoption of new technologies may restrain the market growth to a certain extent.
The overall AIDC market is mainly segmented by technology (barcode, RFID, biometrics, and smart cards), product (scanner, printer, biometric scanner, mobile computers, consumables, and software), and end-user (transportation & logistics, healthcare, banking and financial, manufacturing, and retail), and geography.
On the basis of technology, RFID technology commanded the largest share of the overall automatic identification and data capture market in 2019. This is predominately attributed to the increasing adoption of RFID devices, such as printers, scanners, and tags in several industries such as healthcare, sports, manufacturing, retail, education, and telemetry among others for inventory management and real-time asset tracking & tracing purposes. On the other hand, the biometric technology segment is expected to witness the fastest CAGR during the forecast period owing to increasing adoption of biometric authentication devices particularly in forensic, international border crossing, and automobile applications, among others.
Based on product type, scanners & readers commanded the largest share of the overall automatic identification and data capture market in 2019, owing to persistent need for scanners & readers in several AIDC technologies, such as barcode, RFID, biometric, optical character recognition, and smart cards. The widening application areas of AIDC technologies are further supporting the growth of the scanners and readers market.
On the basis of end user, transportation & logistics sector holds the largest share of the overall automatic identification and data capture market, owing to increasing usage of AIDC technologies such as RFID tags, GPS, and specialized sensors predominantly for supply chain management, shipment tracking, and trucking transportation. However, healthcare sector is expected to grow at the fastest CAGR during the forecast period owing to increasing demand of AIDC devices in healthcare industry in order to overcome the challenges of increasing medication errors and related increase in healthcare expenditure. The growing need to manage healthcare workforce in an effective manner, schedule patient workflow efficiently, and to maintain a real time visibility on various medical devices and assets is further supporting the growth of the AIDC market for healthcare applications.
An exhaustive analysis of the geographical scenario of the automatic identification and data capture market delivers thorough qualitative and quantitative insights about the five regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region commanded the largest share of the global automatic identification and data capture market in 2019, followed by North America and Europe. The growth in the AIDC market in APAC region is attributed to increasing awareness and high adoption of AIDC devices among business organizations, rising government legislatives mandating the use of various AIDC technologies, and growing e-commerce industry in the region. Asia Pacific region is also expected to grow at the fastest CAGR during the forecast period.
Some of the key players operating in global automatic identification and data capture market are Zebra Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Newland EMEA (Netherlands), Epson America, Inc. (U.S.), Seagull Scientific, Inc. (U.S.), NEC Corporation (Japan), Datalogic S.P.A. (Italy), Alien Technologies Corporation (U.S.), SATO Worldwide (Japan), Toshiba Tec Corporation (Japan), Microscan System, Inc. (U.S.), Jadak (U.S.), B.O.S. Better Online Solutions Ltd. (Israel), Unitech Electronics Co. Ltd. (Taiwan), TSC Auto Id Technology Co. Ltd. (Taiwan), Cognex Corporation (U.S.), Opticon (Netherlands), Code Corporation (U.S.), Bluebird Inc. (South Korea), Avery Dennison Corporation (U.S.), Godex International (Taiwan), Cardlogix Corporation (U.S.), Impinj, Inc. (U.S.), and Axicon Auto ID Ltd (U.K.), among others.
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