Automatic Identification and Data Capture Market Current and Future Trends, Leading Players, Industry Segments and Regional Forecast from 2023 to 2033

The worldwide automatic identification and data capture market is poised to reach a market value of US$ 52,910.7 million in 2023. It is projected to grow at a steady rate, achieving a market value of US$ 147,992.7 million by the end of the forecast period, with a compounded annual growth rate (CAGR) of 10.8%.

Globally technology providers are increasingly focusing on reducing the human involvement in non-intelligent and basic machine-based transactions. The development and adoption of systems that perform a set of transactions based on predefined triggers is on the rise. 

Such systems referred to as Automatic Identification & Data Capture are at the basis of developing trends such as Industrial Automation, Retail Automation, and Biometric Authentication. Automatic Identification & Data Capture tools such as RFID, Barcode Scanners, and Biometric systems are facing an upsurge in adoption under this scenario.

Automatic Identification & Data Capture is a method of identification and detection of objects and data based on set of predetermined conditions. Software solutions, hardware components and devices such as Magnetic Stripes, Smart Cards and biometric readers are a part of Automatic Identification & Data Capture market.

Automatic Identification and Data Capture Market

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Automatic Identification & Data Capture Market: Drivers & Challenges

Fast moving industry of e-commerce depends on the accuracy and speed of movement of merchandise. Moreover, the e-commerce industry is becoming increasingly competitive where cost minimization is of paramount importance. This presents a lucrative opportunity for the Automatic Identification & Data Capture market to capitalize on.

Similarly, Retail industry is also heavily investing on automation solutions built on top of Automatic Identification & Data Capture tools. This is helping Automatic Identification & Data Capture gain rapid penetration in retail markets.

A huge chunk of a retail outlet’s total sale is contributed by low value products and it is therefore economically unviable to use technologies such as RFIDs and 2D barcodes which are at the base of developments in Automatic Identification & Data Capture market. This is true for many other industries too where the cost of large scale implementation is impeding the growth of Automatic Identification & Data Capture Market.

Automatic Identification & Data Capture Market: Regional Overview

North America is expected to lead the Automatic Identification and data Capture Market in terms of value owing to the high adoption of application areas such as E-Commerce, Retail Automation, Industrial Automation, and Identity and Access Management. The Automatic Identification and Data Capture Market is also expected to gain considerable traction in the Asia Pacific region due to growing investment in digitization and urbanization.