London, Oct. 21, 2021 (GLOBE NEWSWIRE) -- According to a new market research report titled, “Automatic Identification and Data Capture 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 2028”, published by Meticulous Research®, the automatic identification and data capture market is expected to grow at a CAGR of 11% from 2021 to reach $115.8 billion by 2028. In terms of volume, the AIDC market is expected to reach 819.6 million units by 2028, growing at a CAGR of 12.2% from 2021 to 2028.
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Automatic identification and data capture is a technology that identifies, verifies, records, communicates, and stores information on discrete, packaged, or containerized items. Because the process is automated (rather than reliant on pens, paper, and people), information is gathered quickly and accurately. The most common technologies used to identify and capture data are barcodes, handheld and fixed-position scanners and imagers, radio frequency identification (RFID) tags and readers; and voice recognition, weighing, and cubing devices.
The AIDC market growth is primarily driven by factors, such as technological advancements along with widening applications of AIDC technologies in retail, transportation & logistics, manufacturing, BFSI, and healthcare devices. Furthermore, the rising acceptance of advanced technologies, such as barcode, RFID, and biometrics; increasing consumer demand for AIDC devices; and increasing usage of smartphones and e-commerce are also encouraging the demand for AIDC devices. Although the adoption of AIDC-enabled devices is on the rise, there is still a certain level of reluctance towards adopting new technologies. This, coupled with the high cost of some AIDC devices, may restrain the growth of the automatic identification and data capture market to some extent.
Impact of COVID-19 on the Automatic Identification and Data Capture Market
The automatic identification and data capture (AIDC) industry suffered considerable losses owing to COVID-19 in the first and second quarter of 2020 (1Q20 and 2Q20). Players operating in the AIDC market witnessed a decrease in 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, designing and marketing specialty printers, mobile computing, data capture, RFID products, and RTLS, registered a decrease of USD 141 million or 12.9% in net sales in the second quarter of 2020.
Favorable government initiatives, increasing healthcare expenditure, and demand for innovative medical devices are creating opportunities for players operating in the automatic identification and data capture market. In addition, the increasing adoption of biometric and contactless smart card devices is also expected to support the growth of this market during the forecast period. This is expected to mitigate the severe impact of the COVID-19 pandemic on the overall automatic identification and data capture market.
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To arrive at the most precise impact assessment for the automatic identification and data capture market, Meticulous Research® applied different scenarios to estimate the market size. As the demand for AIDC technologies increased among end users from various sectors, including healthcare, pharmaceuticals, cold chain transportation, e-commerce, and manufacturing, significant developments were observed in the AIDC market post-COVID-19.
Market forecasting was performed by assessing the impact of COVID-19 on individual AIDC technologies, and the revenue growth patterns of key players from each technology segment were considered for market estimation.
The overall automatic identification and data capture market is segmented based on technology (barcode, RFID, biometrics, and smart cards), product (scanners, printers, biometric scanners, mobile computers, consumables, and software), end user (transportation & logistics, healthcare, banking and financial, manufacturing, and retail), and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on technology, the biometrics technology segment is expected to account for the largest share of the overall automatic identification and data capture market in 2021. The large share of this segment is attributed to the increase in demand for AIDC systems to reduce personalized data entry errors, consistently growing identity frauds, the growing significance of access control, and increasing demand for contactless data access post-COVID-19. This segment is also slated to register the highest CAGR during the forecast period.
Based on product offering, the biometric scanners segment is expected to account for the largest share of the overall automatic identification and data capture market in 2021. The large share of this segment is primarily attributed to the rapid adoption of biometric AIDC, particularly in BFSI, healthcare, and hospitality sectors; technological advancements; and increasing demand in line with the growing customer acceptance.
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However, RFID scanners are expected to grow at the highest growth rate over the forecast period. With the growing demand for contactless data entry processes and thriving transportation & logistics sector post-COVID-19, particularly in the cold chain for vaccination distribution, RFID scanners are expected to grow with considerable growth over the forecast period.
In terms of volume, AIDC consumables, including RFID tags and stickers, barcode labels, thermal transfer ribbon and foil, accounted for the largest market share of the overall AIDC market. In proportion to the growth in RFID and barcode technology across different end users, the demand for RFID consumables is also growing consistently. Thus, AIDC consumables emerged as the dominant segment in terms of volume.
Based on end user, the transportation & logistics segment is expected to account for the largest share of the overall automatic identification and data capture market in 2021. The large share of this segment is primarily accounted for the consistently growing e-commerce coupled with the incorporation of AIDC technology for logistic applications, such as fleet management and improved speed & accuracy of delivery services. However, the healthcare segment is slated to register the highest CAGR during the forecast period due to the ease of integrating AIDC technologies with various healthcare devices & platforms and increasing investments in the healthcare sector for developing and exploring AIDC-enabled healthcare devices, particularly due to the spread of COVID-19 pandemic.
Based on geography, Asia-Pacific is expected to emerge as the most dominant region in the automatic identification and data capture market in 2021. The large share of this region is primarily accounted for the significantly increasing government investments for security and transparency, particularly for BFSI, healthcare, and retail industry sector. Furthermore, the region's economic growth, growing per capita income, rising consumption capacities with a large population base, and high economic growth rate are also attracting many global AIDC players to launch their technologically advanced products and aiding market growth in the APAC region. Furthermore, Asia-Pacific is also expected to account for the largest share of the overall AIDC market by volume.
The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past four years (2017–2020). The automatic identification and data capture market has witnessed new product launches & enhancements that enabled companies to broaden their product portfolios, advance existing products' capabilities, and gain cost leadership in the automatic identification and data capture industry.
In September 2021, Epson unveiled the Epson FastFoto app1 for use with the Epson FastFoto FF-680W High-Speed Photo Scanning System to help families easily scan, rediscover, and share memories. Similarly, in April 2021, Avery Dennison Smartrac introduced ultra-small Minidose U8 RAIN RFID inlays for pharma applications.
The major players operating in the global AIDC market are B.O.S. Better Online Solutions Ltd. (Israel), TSC Auto ID Technology Co. Ltd. (Taiwan), Epson America, Inc. (U.S.), Avery Dennison Corporation (U.S.), Alien Technology Corporation (U.S.), Newland EMEA (Netherlands), Seagull Scientific, Inc. (U.S.), Zebra Technologies Corporation (U.S.), Honeywell International Inc. (U.S.), Datalogic S.P.A (Italy), Bluebird Inc. (South Korea), Godex International (Taiwan), Code Corporation (U.S.), Toshiba Tec Corporation (Japan), SATO Holdings Corporation (Japan), JADAK (U.S.), Cognex Corporation (U.S.), Axicon Auto Id Ltd. (U.K.), Omron Microscan Systems, Inc. (U.S.), Unitech Electronics Co. Ltd. (Taiwan), Opticon Sensors Europe B.V. (Netherlands), Impinj, Inc. (U.S.), Cardlogix Corporation (U.S.), NEC Corporation (Japan), Winmate, Inc. (Taiwan), Fujitsu Ltd. (Japan), HID Global Corporation (U.S.), BioRugged (South Africa), Aratek (Taiwan), Suprema, Inc. (South Korea), Thales Group (Gemalto NV) (France), Integrated Biometrics LLC (U.S.), Iris ID, Inc. (U.S.), and IDEMIA (France) among others.
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Scope of the Report:
AIDC Market, by Technology
- Barcode
- RFID
- Biometric
- Smart Card
- Magnetic Strip
- OCR
AIDC Market, by Product
- Scanner & Readers
- Barcode Scanners
- Pen Type Readers
- Laser Barcode Scanners
- CCD Barcode Scanners
- Camera-based Scanners
- RFID Scanners
- Smart Card Readers
- Contact Type
- Contactless
- Magnetic Strip Readers
- Optical Character Recognition (OCR)
- Barcode Scanners
- Biometric Scanners
- Face Recognition
- Voice Recognition
- Fingerprint Recognition
- IRIS Recognition
- Printers & Recorders
- Barcode Printers
- Dot Matrix Printers
- Inkjet Printers
- Laser Printers
- Thermal Printers
- RFID Printers
- Label Printers
- Smart Card Printers
- Magnetic Stripe Printers
- Barcode Printers
- Mobile Computers
- Consumables
- Barcode Labels
- RFID Tags & Sticker
- Thermal Transfer Ribbon/Foil
- Software
AIDC Market, by End User
- Retail
- Manufacturing
- Transport & logistics
- Banking and Financial
- Healthcare
- Others
AIDC Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Indonesia
- Singapore
- Vietnam
- Rest of Asia-Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East and Africa
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