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

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 2020u20132025.<br>

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

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  1. 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.com/Market-Reports/automatic-identification-data-capture-market-194254012.html

  2. 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 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. 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"

  3. 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.marketsandmarkets.com/pdfdownloadNew.asp?id=194254012 Manufacturing 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.

  4. 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.

  5. Key market players Honeywell (US), DatalogicS.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?id=194254012 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.

  6. About MarketsandMarkets MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations early to the market by providing them research ahead of the curve. MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of markets.

  7. Contact Us Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA : 1-888-600-6441 For More Info: https://www.marketsandmarkets.com/PressReleases/automatic-identification-data-capture.asp

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