Market Size – USD 36.80 billion in 2019, Market Growth – CAGR of 14.6%, Market Trends – The rise in the initiatives for the implementation of automatic identification & data capture technologies by government.
The surging electronic and computing industry have initiated projects that are making our lives easier on an everyday basis. From facial recognition to fingerprint detection, the automatic identification sector has made its influence in every smart-phone for personal use and bio-metrics for official purposes. According to a survey done by Emergen Research in October 2020, the global Automatic Identification Data Capture Market was accounted for USD 36.80 Billion in the year 2019 and is forecast to reach USD 102.35 Billion by the end of 2027 at an annual growth rate of 14.6%.
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The growing research in Data Analytics and Machine Learning is likely to boost the growth of this market. QR code scanning, fingerprint detection, face recognition are technologies that are being used in almost every product for the accessibility as well as safety purposes in crime branches. The smart card sector is predicted to experience the largest growth with automatic identification chips installed in credit and debit cards. Moreover, advanced wearables like smartwatches, smart glasses and software like biometric attendance in offices and data capture and automatic identification ability in the healthcare industry will benefit the growth of the market.
The Asia Pacific region held the largest market share, accounting to approximately 36% in 2019, and is expected to provide further growth due to the increasing purchasing power of people and the capital being invested by retail and logistics firms in this region. North America, with its corporate investments in the field of research to develop advanced identification technology, is also forecast to contribute to the growth of the Automatic Identification Data Capture Market.
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Key Highlights From The Report
In February 2020, IMPINJ Inc. launched the Future-Proofed RAIN RFID Reader. This is expected to further boost the capabilities of track-and-trace and resource management in logistics operations.
The smart card segment is expected to witness significant growth over the forecasted period due to large application areas, the accessibility of smart cards used for identity verification, credit cards, ATM cards, and health cards.
Due to the huge requirement for hardware in various automatic identification and data capture devices such as smart cards, wearable devices, smart glasses, and biometric systems, the hardware segment held the largest market with a CAGR of 14.7% during the forecast timeframe.
Owing to growing production efficiency and saving costs achieved by the use of Automated Detection & Data Capture devices, the manufacturing sector is anticipated to dominate the market over the forecast period, enabling manufacturing to support the high number of products flowing through the supply chain process effectively.
During the forecasted period, the Asia Pacific region is expected to hold the largest market due to the various retail and logistics firms are increasing their presence in the region in order to capitalize on the rising buying power of middle-class consumers.
Key participants include Toshiba Corporation, Epson America Inc., Unitech Electronics Co. Ltd., Seagull Scientific Inc., Zebra Technologies Corporation, SATO Holdings Corporation, IMPINJ Inc., SICK AG, Allien Technology Corporation, and Panasonic Corporation, among others.
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Product Outlook (Revenue, USD Billion; 2017-2027)
Magnetic Stripe Cards
Optical Character Recognition Systems
Offerings (Revenue, USD Billion; 2017-2027)
End-Use Outlook (Revenue, USD Billion; 2017-2027)
Energy & Power
We provide detailed product mapping and investigation of various market scenarios. Our expert analysts provide a thorough analysis and breakdown of the market presence of key market leaders. We strive to stay updated with the recent developments and follow the latest company news related to the industry players operating in the global Automatic Identification Data Capture market. This helps us to comprehensively analyze the individual standing of the companies as well as the competitive landscape. Our vendor landscape analysis offers a complete study to help you gain the upper hand in the competition.
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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