Strong CAGR of 10.8% Expected in the Automatic Identification and Data Capture Market

According to forecasts, the automatic identification and data capture market is expected to be US$ 52,910.7 million in 2023 and US$ 147,992.7 million by 2033.

Innovative low-cost solutions and rising smartphone QR scanning are anticipated to drive market expansion. Moreover, the rapidly expanding consumer goods, retail, and e-commerce industries are projected to fuel demand for AIDC solutions.

The use of AIDC technology assists the e-commerce sector in automatically identifying the products, accurately and precisely gathering data about them, and electronically entering this data into the computer system.

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Technology also increases overall productivity and operational efficiency by properly tracking inventories, human resources, accounts, and general procedures.

Installing automatic identification and data collection systems comes at a significant cost, and worries about malware attacks and security breaches are growing, restraining market expansion. Also, good potential for developing the automated identification and data capture market is presented by the spike in government legislation for adopting AIDC solutions.

Key Takeaways

The automatic identification and data capture (AIDC) market has shown substantial growth, reaching US$ 48,453.0 million in 2022. From 2018 to 2022, the sector expanded at a CAGR of 8.7%, with significant contributions from the United States, holding a 16.4% share, and Japan, with a 4.3% share. The hardware segment dominated the market in 2022, accounting for 44.3% of the share, while the logistics and warehouse segment led based on end use, with a 14.5% share. Looking ahead, the AIDC market in the United Kingdom is expected to expand at a CAGR of 9.2% by 2033. Additionally, the child safety seat market in China and the mountain and ski resort industry in India are projected to grow with CAGRs of 8.2% and 14.3%, respectively, by 2033. In 2022, Australia's AIDC sector held a 5.4% share, and Germany's child safety seat market accounted for 9.4%.

Competitors Winning Strategies

Notable companies have utilized product launches and innovations as their main business strategy to grow their market share, followed by expansions, mergers and acquisitions, contracts, agreements, partnerships, and collaborations. The corporations have employed various strategies to increase market penetration and strengthen their position in the automatic identification and data capture sector.

Recent Development:

In February 2022, AIM, the industry alliance for automated data capture technologies, including IoT, RFID, NFC, and RTLS, announced that it broadened its influence among AIDC market participants.

A partnership between RMS Omega Technologies, a provider of information technology, and Cybra Corporation, a manufacturer of barcoding, RFID tags, data collection, wireless, and mobility technologies, was announced in July 2022.

Key Players :

The Automatic Identification and Data Capture (AIDC) market is driven by key players such as RIOTEC Co. Ltd., ZIH Corp., Synaptics Incorporated, CVISION Technologies Inc., SATO Holdings Corporation, and Toshiba TEC Corporation. RIOTEC is known for its innovative barcode scanners and RFID solutions, while ZIH Corp. (Zebra Technologies) leads with a broad portfolio of tracking and visibility solutions. Synaptics Incorporated excels in touch and display interface technologies, contributing to advanced data capture. CVISION Technologies focuses on intelligent document capture and OCR software, enhancing data extraction efficiency. SATO Holdings Corporation specializes in barcode printing and RFID solutions, and Toshiba TEC Corporation provides comprehensive retail and logistics automation solutions.

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