The overall AIDC market is expected to grow from USD 40.1 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 14.9% during 2020–2025. Key factors fueling the growth of this market include growing e-commerce industry globally; increasing use of smartphones for QR code scanning and image recognition; rising adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience to users in making small-value payments; and surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy. An increasing number of patients and deaths due to COVID-19 will force all the countries to increase their healthcare expenditure, which is expected to have a positive impact on the growth of the market for AIDC products.
“VR solutions to witness the highest CAGR in AIDC market during the forecast period.”
The market for virtual reality (VR) solutions is expected to grow at the highest CAGR within the global automatic identification and data capture market during the forecast period. VR solutions work on the principle of “vision picking” where order pickers in a warehouse or a retail store can view pick information within their field of vision through smart glasses, rather than looking at their mobile terminal device screen.
“Hosipitality vertical to witness the highest CAGR in AIDC market during 2020–2025.”
The market for the hosipitality vertical is expected to grow with the highest CAGR during the forecast period. Automatic identification and data capturing products, such as barcoding solutions, RFID systems, OCR systems, and biometric systems, are increasingly being used by many hotels and restaurants to enhance the guest experience, increase operational efficiency, accelerate service delivery speed, as well as for mobile payment and ordering, inventory management, and food safety tracking.
“APAC is expected to hold a largest share of AIDC market by 2025.”
The AIDC market in APAC is expected to grow at the highest CAGR during the forecast period. Many retail and logistics companies are expanding their presence in the region to capitalize on the increased purchasing power of the middle-class people, which has led to the growth of the automatic identification and data capture market in the region. Moreover, the significant presence of several market players, such as Panasonic (Japan), SATO (Japan), Toshiba (Japan), Godex (Taiwan), and Optoelectronics (Japan), in the region is likely to propel the growth of the automatic identification and data capture market in APAC.
Breakdown of profiles of primary participants:
- By Company: Tier 1 = 25%, Tier 2 = 40%, and Tier 3 = 35%
- By Designation: C-level Executives = 35%, Directors = 25%, Managers= 40%
- By Region: North America = 45%, Europe = 20%, APAC = 25%, and RoW = 10%
Major players profiled in this report:
- Honeywell (US)
- Datalogic S.p.A. (Italy)
- Zebra Technologies (US)
- SICK AG (Germany)
- Cognex Corporation (US)
- Toshiba (Japan)
- Panasonic Corporation (Japan)
- Thales (France)
- NXP Semiconductors N.V. (Netherlands)
This report offers detailed insights into the AIDC market, by product, offerings, vertical, and region. By product, the AIDC market has been segmented into Smart cards, RFID systems, barcoding solutions, biometric systems, magnetic stripe cards, optical character recognition (OCR) systems, voice-directed WMS, heads-up displays, wearables, VR solutions, and Google Glass. By offerings, the market has been divided into hardware, software, and services. By vertical, the AIDC market has been segmented into manufacturing, retail, transportation & logistics, hospitality, banking & finance, healthcare, government, commercial, and energy & power. The study forecasts the size of the market in 4 regions?North America, Europe, APAC, and RoW.
Reasons To Buy the report
The report would help market leaders/new entrants in this market in the following ways:
- This report segments the AIDC market comprehensively and provides the closest approximations of the overall market’s size and its subsegments (across different products, offerings, verticals, and regions).
- The report would help stakeholders understand the pulse of the market and provide them with information about key drivers, restraints, challenges, and opportunities.
- This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem and product launches, mergers and acquisitions, expansions, contracts, partnerships, agreements, and collaborations carried out by major market players.