SHERIDAN, WY, USA, July 14, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Automatic Identification and Data Capture (AIDC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global automatic identification and data capture (AIDC) market reached a value of 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.

Industry Definition and Application:

Automatic identification and data capture (AIDC) consists of dynamic technologies and tools that are utilized for identifying objects automatically, obtaining data about them, and converting those data into a digital file by entering it into computer systems. It can be categorized into barcode scanners, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID products, etc. These AIDC tools perform several activities, including data encoding, machine scanning, data decoding, etc. They aid in asset and inventory management, security management, and workflow management. As a result, AIDC technologies find widespread applications across numerous sectors, such as manufacturing, retail, transportation, logistics, banking and finance, healthcare, etc.

COVID-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends and Drivers:

The expanding digitization levels and the growing automation across industries are primarily driving the automatic identification and data capture (AIDC) market. Besides this, the development of radio-frequency identification (RFID) systems that cover scanners and tags and the increasing integration of such devices across logistics, sports, retail, manufacturing, and other sectors are acting as significant growth-inducing factors. Additionally, the rising utilization of advanced AIDC systems, including biometrics and smart cards, among financial institutions to ensure the protection of financial transactions is further catalyzing the global market. Moreover, the elevating product demand in the healthcare sector for enhanced visibility of information, accurate capturing of data, and improved operational efficiency is expected to drive the automatic identification and data capture (AIDC) market over the forecasted period.

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 on the basis of 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

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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.

About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
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