The global AIDC market will grow at a CAGR of 11% in the next five years to be valued at USD 71.74 billion in 2022, according to this latest publication from Meticulous Research®. The growth of this market is mainly driven by the exponential growth in the adoption of biometric systems in various industries across the globe. In addition, factors such as rising need to eliminate manual data capture & entry errors, increasing government legislatives on the use of AIDC technology, various technological advancements, and growing e-commerce industry are expected to further propel the growth of this market. However, lack of awareness and high upfront investments associated with the installation of certain AIDC products such as RFID and biometric systems are the major pain points, restraining the adoption of this technology.
The global AIDC market is mainly segmented by product (barcode printers, barcode verifiers, barcode scanners, RFID devices, magnetic stripe readers, smart card readers, biometric systems, Optical Character Recognition (OCR), and mobile computers), by vertical/industry (manufacturing, retail, transportation & logistics, banking & financial, healthcare, and others), and by geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa).
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Scope of the Report:
Market by Product type:
- Barcode Printers
- By Product Type
- Software & services
- By Printing Technology
- Dot matrix printers
- Laser printers
- Ink jet printers
- Thermal printers
- Thermal transfer printers
- Direct thermal printers
- Dual thermal printers
- Barcode Verifiers
- Barcode Scanners
- Image scanners
- Laser scanners
- Charged-coupled scanners
- Wand barcode scanners
- RFID Devices
- RFID Systems
- RFID Tags
- Magnetic Stripe Readers
- Smart Card Readers
- Optical Character Recognition
- Mobile Computers
- By Product Type
Market by Vertical/Industry:
- Transportation & Logistics
- Banking & Logistics
Market by Geography:
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
- Latin America
- Middle East and Africa
North-America accounted for the major share in the global AIDC market in 2016, followed by Europe, and Asia Pacific. The major share of the North American region is mainly attributed to the well-established industrial infrastructure in the region, higher adoption of advanced IT & automation technologies to ensure operational efficiency, favorable government regulations, and easy accessibility to advanced products due to the presence of key players in the region. However, Asian countries are slated to register the fastest growth during the forecast period, primarily due to rising need for automatic data capture technologies to reduce manual errors, continuous shift of manufacturing industry to emerging countries, significantly growing retail industry, and increasing transportation & logistics sector supporting growing manufacturing & retail industry.
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The leading companies operating in AIDC market have employed various strategies to expand their product and application offerings, global footprint, and augment their market share. The key strategies followed by most companies in the global AIDC market were new product launches & product enhancements, partnerships & agreements, mergers & acquisitions, and expansions. The key players in the global AIDC market are Zebra Technologies Corporation, Honeywell International Inc., Datalogic S.p.A., Bluebird Inc., Godex International, Code Corporation, Toshiba Tech Corporation, SATO Worldwide, JADAK Tech, Axicon Auto ID Ltd., Microscan System, Inc., Unitech Electronics Co. Ltd., Opticon Sensors Europe B.V., Impinj Inc., Better Online SolutionsLtd., TSC Auto ID Technology Co., Ltd., Epson America Inc., Allien Technologies Corporation, Avery Dennison Corporation, Newland Europe B.V., and Seagull Scientific Inc.
Key questions answered in the report:
Growing retail & healthcare industry to drive the adoption of AIDC technology
- How does the penetration of AIDC in retail industry differ from the penetration in the healthcare industry?
- What impact does this have on the adoption of Automatic Identification & Data Capture (AIDC) market in comparison to other industries?
- Which are the high growth market segments in terms of products, and regions/countries?
The North American Automatic Identification & Data Capture (AIDC) Market favors both larger and local manufacturers that compete in multiple segments
- Who are the top competitors in this market and what strategies do they employ to gain shares?
- What is driving growth and which market segments have the most potential for revenue expansion over the forecast period?
- What strategies should new companies looking to enter this market use to compete effectively?
- What are the major drivers, restrains, and opportunities in the global Automatic Identification & Data Capture (AIDC) market?
- Who are the major players in various countries and what share of the market do they hold?
- What are the geographical trends and high growth regions/ countries?
Recent new product launch, partnerships, acquisitions, and expansions have taken place in the AIDC space.
- What companies have recently merged/acquired and how will these unions affect the competitive landscape of the AIDC space?
- Which companies have created partnerships and how will these partnerships promote a competitive advantage?
- Who are the major players in the global AIDC market and what share of the market do they hold?
- Who are the local emerging players in the global AIDC market and how do they compete with the global players?
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This post was originally published on Space Market Research