Automatic Identification and Data Capture (AIDC) Market to Reach US$ 95.8 Billion by 2027, Growth Rate (CAGR of 14.47%)

The rising need to reduce manual data capture and entry errors represents one of the primary factors driving the AIDC market growth.

SHERIDAN, WY, USA, October 21, 2022 /EINPresswire.com/ -- The latest report published by IMARC Group, titled "Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," offers a comprehensive analysis of the industry, which comprises insights on the market share. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global automatic identification and data capture (AIDC) market size reached US$ 43.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 95.8 Billion by 2027, exhibiting a CAGR of 14.15% during 2022-2027.

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Automatic identification and data capture (AIDC) is a technique that groups together different technologies, which are then used to automatically collect data, identify objects, and enter them directly into the computer without human intervention. It enters the data electronically into computer systems before comparing it with other files to provide access to a secured system.  Bar codes, biometrics, quick response (QR) codes, radio frequency identification (RFID), magnetic stripes, voice recognition, optical character recognition (OCR), and smart cards are some standard technologies used to capture and identify data. The employment of AIDC helps perform various tasks, including data encoding, security and workflow management, inventory management, machine scanning, and data decoding.

Market Trends and Drivers:

The rising need to reduce manual data capture and entry errors represents one of the primary factors driving the automatic identification and data capture (AIDC) market growth. In line with this, governments of various nations are actively working to promote the use of advanced AIDC solutions for data security, which is creating a positive outlook for the market. Moreover, rapid automation across industries and surging consumer awareness regarding the use of advanced AIDC systems are accelerating the market growth. Apart from this, the rising use of AIDC systems across e-commerce and healthcare sectors for accurately capturing data and enhancing operational efficiency is boosting the market growth.

Automatic Identification and Data Capture (AIDC) Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the automatic identification and data capture (AIDC) market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Alien Technology LLC
• Cognex Corporation
• Datalogic S.p.A. (Hydra SpA)
• Epson America Inc. (Seiko Epson Corporation)
• Godex International Co Ltd.
• Honeywell International Inc.
• NEC Corporation
• NXP Semiconductors N.V.
• Sato Holdings Corporation
• Sick AG
• Synaptics Incorporated
• Toshiba TEC Corporation
• TSC Auto ID Technology Co. Ltd.
• Zebra Technologies Corporation

Key Market Segmentation:

The report has segmented the global automatic identification and data capture (AIDC) market based on offering, product type, vertical and region.

Breakup by Offering:

• Hardware
• Software
• Services

Breakup by Product Type:

• Barcode Scanners
• Magnetic Stripe Cards
• Smart Cards
• Optical Character Recognition (OCR) Systems
• RFID Products
• Biometric Systems

Breakup by Vertical:

• Manufacturing
• Retail
• Transportation and Logistics
• Banking and Finance
• Healthcare
• Government
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2352&flag=C

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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