Automatic Identification and Data Capture Market Expected to Reach $121.07 Million by 2030

According to a new report published by Allied Market Research, titled, “Automatic Identification And Data Capture Market by Offering, Product, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the automatic identification and data capture market size was valued at $37.18 billion in 2020, and is projected to reach at $121.07 billion by 2030, growing at a CAGR of 12.5% from 2021 to 2030.

Automatic identification and data capture is an innovative technology that automatically identifies the asset, collects the related information, and directly store the data into the computer system. Further, the information stored by automatic identification and data capture in the form of video, image, and biometric is known as identification data. However, the high risk of cybersecurity is impacting the growth of automatic identification and data capture system across government and private sectors. In addition, automatic identification and data capture convert the object data into a digital file by using a transducer before storing the data into the computer system. Moreover, rise in e-commerce industry is expected to offer significant growth opportunities for the market in the coming years.  

Surge in the e-commerce industry paired with rise in utilization of smartphones based QR codes and image recognition technology is driving the market growth. However, high cost associated with the automatic identification and data capture coupled with the high risk of concerns of malware attacks and security breaches is anticipated to restrain the automatic identification and data capture market share. Further, surge in adoption of AIDC solutions to address human error coupled with government regulations for the adoption of AIDC solutions is expected to drive the need for automatic identification and data capture during the forecast period.

According to technology, the radio frequency identification (RFID)  segment was the highest contributor to the market in 2020. Rise in automation across healthcare and government sector is driving the automatic identification and data capture growth during the forecast period.

Emergence of COVID-19 has significantly impacted the global automatic identification and data capture industry. Delay caused for deployment and installation of automatic identification and data capture due to partial or complete lockdown in various regions of the world has significantly reduced the growth of automatic identification and data capture during the pandemic. However, rise in demand for e-commerce platform solutions and smartphones propel the need for enhancing automatic identification and data capture market. Further, the government sector has seen growth potential in the deployment of automatic identification and data capture for biometric solutions and is expected to drive the automatic identification and data capture market analysis post-pandemic.

Key Findings of the Study

• By offering, the solution segment led the highest automatic identification and data capture market share, in terms of revenue in 2020. 
• On the basis of technology, the smart cards segment is expected to exhibit the fastest growth in the automatic identification and data capture market forecast period.
• Region wise, North America generated the highest revenue in 2020.  

The key players operating in the automatic identification and data capture market analysis include Cognex Corporation, Datalogic S.p.A., Honeywell, NXP Semiconductors N.V., Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba, and Zebra Technologies. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.