LONDON, Nov. 18, 2020 /PRNewswire/ -- According to a new market research report titled, "Automatic Identification and Data Capture (AIDC) Market by Technology (Barcode, RFID, Biometrics, and Smart cards), Product (Scanner, Mobile Computers, and Software), End-User (Logistics, Healthcare, BFSI, Manufacturing, and Retail)- Global Forecast to 2027", published by Meticulous Research®, the automatic identification and data capture market is expected to grow at a CAGR of 9.8% from 2020 to reach $103.47 billion by 2027.
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Automatic identification and data capture devices are used to identify, authenticate, record, communicate, and store data without human interference. These devices are used across several industries, such as banking & financial; e-commerce & retail; manufacturing; automotive; government; healthcare; sports, library, and hospitality for inventory and asset management; security; and tracking & tracing throughout the supply chain process.
The growth of the automatic identification and data capture market is primarily driven by the rising acceptance of advanced technologies, such as barcodes, RFID, and biometrics; rising government legislation on the use of AIDC technology; and increasing adoption of AIDC devices to reduce errors and efficient workflow. However, the lack of connectivity infrastructure and reluctance to adopt new technologies are restraining market growth to a certain extent.
Impact of COVID-19 on the Automatic Identification and Data Capture Market
The spread of COVID-19 has had an unprecedented impact on personal values and industrial structures, accelerating social reform in several areas. Though the nature of the macro challenges, such as distorted supply chains, decentralized workforce, and providing safe and healthy employee workspaces, are different from past recessions, the players must deal with these dramatic challenges.
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The automatic identification and data capture (AIDC) industry suffered considerable losses due to COVID-19 in the first and second quarters of 2020 (1Q20 and 2Q20). Players operating in the AIDC market have seen a decrease in the net sales in the first half of 2020 due to the recessionary global environment driven by the COVID-19 pandemic. For instance, Zebra Technologies Corporation, a global leader in enterprise asset intelligence, registered a decrease of USD 141 million or 12.9% in net sales in the second quarter of 2020. However, some players are expecting a strong return in the second half of 2020 so that the overall sales will remain the same as last year. For instance, according to BOS Better Online Solutions, Ltd., a global provider of intelligent systems and services for production and logistics, the company will make up for the first half shortfall in the second half of 2020.
Favorable government initiatives, increasing healthcare expenditure, and demand for innovative medical devices are expected to offer significant growth opportunities for players operating in this market. In addition, increasing adoption of biometric and contactless smart card devices is also expected to support the growth of this market. This is expected to mitigate the severe impact of the COVID-19 pandemic on the overall automatic identification and data capture market.
The automatic identification and data capture market study presents historical market data (2018 & 2019), estimated current data (2020), and forecasts for 2027. The market is segmented based on technology (barcode, RFID, biometrics, and smart cards), product (scanner, printer, biometric scanner, mobile computers, consumables, and software), end-user (transportation & logistics, healthcare, banking and financial, manufacturing, and retail). The study also evaluates industry competitors and analyzes the market at the country level.
Based on technology, the biometrics segment is estimated to account for the largest share of the overall automatic identification and data capture market in 2020. The large share of this segment is primarily attributed to the growing significance of biometrics for security, accuracy, and convenience. In addition, the rapidly increasing adoption of this technology and easy integration is also encouraging the growth of this segment.
Based on offering, the biometric scanners segment is expected to account for the largest share of the overall automatic identification and data capture market in 2020. The large share of this segment is primarily attributed to the rapid adoption of biometric AIDC, particularly in the BFSI, healthcare, and hospitality sectors; technological advancements; and increasing demand in-line with the growing customer acceptance.
Based on end user, the transportation & logistics sector is expected to account for the largest share of the overall automatic identification and data capture market in 2020. The large share of this segment is primarily accounted for the consistently growing e-commerce coupled with incorporating AIDC technology for logistic applications, such as fleet management and improving speed & accuracy of delivery services. However, the healthcare sector is expected to grow at the highest CAGR during the forecast period due to the rapid evolution in this sector and the integration of modern AIDC technologies for better healthcare services.
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Based on geography, Asia-Pacific region is poised to account for the largest share of the global automatic identification and data capture market in 2020. The large share of this region is primarily attributed to the increasing government investments for security and transparency, particularly for BFSI, healthcare, and retail industries. Furthermore, the region's economic growth, growing per capita income, and high economic growth rate are also attracting various AIDC players to launch their technologically advanced products and aiding the market growth in the APAC region.
The report also includes an extensive assessment of the key strategic developments adopted by the industry's leading market participants over the past few years. The automatic identification and data capture market has witnessed new product launches & enhancements that enabled companies to broaden their product portfolios, advance the capabilities of existing products, and gain cost leadership in the automatic identification and data capture industry.
The automatic identification and data capture market is fragmented in nature. The major players operating in this 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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Scope of the Report:
AIDC Market By Technology
- Smart Cards
- Magnetic Strips
AIDC Market By Product
- Scanners & Readers
- Barcode Scanners
- Pen Type Readers
- Laser Barcode Scanners
- CCD Barcode Scanner
- Camera-based Scanner
- RFID Scanners
- Smart Card Readers
- Contact Typ
- Magnetic Strip Readers
- Optical Character Recognition (OCR)
- Biometric Scanners
- Face Recognition
- Voice Recognition
- Finger Print Recognition
- IRIS Recognition
- Printers & Recorders
- Barcode Printers
- Dot Matrix Printers
- Inkjet Printers
- Laser Printers
- Thermal Printers
- RFID Printers
- Label Printers
- Smart Card Printer
- Magnetic Stripe Printers
- Mobile Computers
- Barcode Labels
- RFID Tags & Sticker
- Thermal Transfer Ribbon/Foil
AIDC Market By End User
- Transport & Logistics
- Banking and Financial
AIDC Market By Geography:
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
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