Automatic Identification and Data Capture Market: COVID-19 Impact Analysis

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MarketsandMarkets Presents

Automatic Identification and Data Capture Market
COVID-19 Impact Analysis Automatic
Identification and Data Capture Market with
COVID-19 Impact Analysis by Product (Barcodes,
Smart Cards, OCR Systems, RFID Products, and
Biometric Systems), Offering (Hardware, Software,
and Services), Vertical, and Geography - Global
Forecast to 2025 https//www.marketsandmarkets.co
m/Market-Reports/automatic-identification-data-cap
ture-market-194254012.html
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The overall Automatic Identification and Data
Capture 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
20202025. 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. Browse 162 market data Tables
and 66 Figures spread through 253 Pages and
in-depth TOC on "Automatic Identification and
Data Capture Market - Global Forecast to 2025"
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Hardware component held the largest market share
of AIDC market in 2019 The hardware component is
expected to account for the largest share of the
AIDC market by 2025. The high requirement for
hardware components in several automatic
identification and data capture products such as
barcoding solutions, magnetic stripe cards, smart
cards, optical character recognition (OCR)
systems, RFID tags, printers and readers,
tablets, wearables, VR devices, heads-up display
devices, Google Glass, and biometric systems, has
contributed to the largest size of the hardware
segment. Ask PDF Brochure https//www.marketsand
markets.com/pdfdownloadNew.asp?id194254012 Manuf
acturing vertical held share of AIDC market in
2019 The manufacturing vertical is expected to
continue to account for the largest size of the
AIDC market. The leading position of the
manufacturing vertical, in terms of market size,
can be attributed to enhanced production
efficiency and reduced operational costs achieved
with the utilization of AIDC products, thereby
enabling the manufacturing vertical to
effectively manage the increasing number of goods
flowing through the supply chain process. Hence,
the manufacturing vertical is likely to witness a
high demand for AIDCs during the forecast period.
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APAC is expected to hold a significant share of
AIDC market by 2025  APAC accounted for the
largest share of the 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.
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Key market players Honeywell (US), Datalogic
S.p.A. (Italy), Zebra Technologies (US), SICK AG
(Germany), Cognex Corporation (US), Toshiba
(Japan), Panasonic Corporation (Japan), Thales
(France), and NXP Semiconductors N.V.
(Netherlands) are a few major companies in the
AIDC market. Organic growth strategies, such as
product launches and developments, is a focus of
many of the companies mentioned above. Request
Free Sample Report https//www.marketsandmarkets.
com/requestsampleNew.asp?id194254012 The
COVID-19 pandemic has impacted the sales of AIDCs
globally. However, it has created opportunities
as well as challenges for the players present in
the ecosystem. Since the healthcare globally are
still active, AIDCwill be in demand. An
individual has to clear both the face and
fingerprint recognition to access the database of
any system. If the individual does not clear one
of the identification criteria, then the access
to the database is denied. These added security
features offered through biometrics provide an
opportunity for the growth of automatic
identification and data capture market. 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.
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