Automatic Identification and Data Capture Market: Industry Value is Projected to Reach $121,072 Million by 2030, at CAGR of 12.5%

iCrowd Newswire
13 May 2022, 00:02 GMT+10

The report offers detailed segmentation of the global automatic identification and data capture market based on offering, product, technology, industry vertical, and region.

The global automatic identification and data capture market generated $37.1 billion in 2020, and is projected to reach $121.07 billion by 2030, witnessing a CAGR of 12.5% from 2021 to 2030.

Surge in government regulations for the adoption of AIDC solutions forecasts presents new opportunities in the upcoming years. Rise in adoption of AIDC solutions drives the growth of the global automatic identification and data capture market.

Key industry players - Cognex Corporation, Datalogic S.p.A., Honeywell, NXP Semiconductors N.V., Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba, and Zebra Technologies.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding one-third of the global automatic identification and data capture market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 14.10% during the forecast period.

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Based on technology, the radio frequency identification segment held the largest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the smart cards segment is projected to register the highest CAGR of 16.2% from 2021 to 2030.

Based on offering, the hardware segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 15.2% from 2021 to 2030.

COVID-19 scenario:

The outbreak of the COVID-19 pandemic has had a mixed impact on the global automatic identification and data capture market.

Initially, the pandemic gave way to several obstacles, including the availability of resources and skilled workforce, which affected the growth of the market.

Lastly, this report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights on the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Tags: Automatic Identification, Automatic Identification and Data Capture Market, Automatic Identification and Data Capture