Automatic Identification and Data Capture Market Size Set to Reach USD 212.28 Billion by 2034, Growing at a CAGR of 11.8% | PMR

New York, USA, Dec. 04, 2024 (GLOBE NEWSWIRE) — Market Overview:

The global automatic identification and data capture market size is projected to grow from USD 69.77 billion in 2024 to USD 212.28 billion by 2034, at a CAGR of 11.8%, according to a new report by Polaris Market Research.

Market Defination:

Automatic identification and data capture (AIDC) is a wide grouping of technologies utilized to gather details from a person, object, picture, and sound in the absence of physical data entry. AIDC systems are utilized to handle catalogues, conveyance, benefits, security, and documents. Sectors that utilize dissemination, manufacturing, conveyance, medicine, government, retail, and several others. Recognition and authentication at the source, tracing and connection to other systems are some of the categories in which AIDC applications fall into.

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Key Insights from the Report:

• The market for automatic identification and data capture is significantly shaped by improving productivity within healthcare.
• The automatic identification and data capture market segmentation is mainly based on component, end user, and region.
• Based on components, the hardware segment is expected to experience the highest CAGR during the forecast period.
• By region, the report provides market insights into Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.

Automatic Identification and Data Capture Market Scope:

Market’s Growth Drivers:

• Regulatory Compliance: Administrative conformity in industries such as pharmaceuticals and food commands accurate tracing of commodities throughout the supply chain to sanction security, standards, and legitimacy. Thus, escalating pharmaceuticals and food industries are growingly acquiring AIDC to abide by directives that drive the market growth. Additionally, the government enterprise towards economic advancements such s smart cities and frameworks are contributing to automatic identification and data capture market growth.
• Growth of Retail and Logistics Framework: The worldwide augmentation of the retail and logistics framework is speeding up the acquisition of AIDC technologies to nourish the logistics framework and reach an extensive aggregate of consumers. As per the issued report by Transportation Statistics Annual Report 2023, in 2021, the aggregate disbursement of transportation services summed up to USD 1,330.6 billion, considering 5.6% of the US GDP.
• E-Commerce Growth: The e-commerce growth has notably escalated the demand for productive inventory handling and order realization rendering AIDC technologies vital. For instance, as per the International Trade Administration (ITA), the estimated growth for worldwide B2C e-commerce returns is expected to reach USD 5.5 trillion by the end of 2027. Automatic identification and data capture technologies sanction real-time tracing of checklist levels, smoothen the including and packaging procedures and ease precise order realization covering online and offline channels.

List of Automatic Identification and Data Capture Market Key Players:

• Cognex Corporation
• Datalogic S.p.A.
• Honeywell International Inc.
• NEC Corporation
• Nordic ID Oyj
• Panasonic Holdings Corporation
• Radley, LLC
• SICK AG
• Toshiba Tec Corporation

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Geographical Analysis:

North America accounted for the largest automatic identification and data capture market share. The region’s strong framework and progressive technological topography have eased the extensive acquisition of AIDC solutions. The existence of prominent contenders and inventive firms in North America has propelled ongoing progressions in AIDC technologies such as RFID, barcodes, and biometric systems.

Asia Pacific is also expected to grow at the highest CAGR during the forecast period. This is due to the speedy economic growth of surfacing markets such as India and China is causing elevated funding in technology covering several sectors pushing the demand for AIDC solutions. Additionally, the region’s flourishing e-commerce sector is pushing the AIDC demand as retailers look for productive inventory handling and order realization procedures to improve customer participation.

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Market Segmentation:

By Component Outlook:

• Hardware
  • RFID Reader
  • Barcode Scanner
  • Smart Cards
  • Optical Character Recognition Devices
  • Biometric Systems
  • Others
• Software
• Services
  • Integration & Installation Services
  • Support & Maintenance Services

By End User Outlook:

• Manufacturing
• Retail
• Transportation & Logistics
• Hospitality
• BFSI
• Healthcare
• Government
• Others

By Region Outlook:

• North America
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Netherlands
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Malaysia
  • South Korea
  • Indonesia
  • Australia
  • Vietnam
  • Rest of Asia Pacific
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Israel
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Rest of Latin America

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About Polaris Market Research & Consulting, Inc:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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