The automatic
identification and data capture market was valued at USD 35.69 Billion
in 2018 and is expected to reach USD 72.00 Billion by 2023, at a CAGR of 12.30%
during the forecast period. Factors such as rising government regulations and
growing opportunities from supply chain management and healthcare industries
are expected to support the growth of players in the automatic identification
& data capture market.
Request Free Sample Pages:
Automatic identification and data
capturing is a technique through which objects are automatically identified,
data about them is collected, converted into a digital file, and then entered
into the computer system, without any human intervention. This data may be in
the form of images and sounds. A transducer is employed to convert the actual
data into a digital file. The stored information is then analyzed by a computer
and then cross-checked with the internal database to verify or provide
authentication to enter a secured system and to store this data for future
references.
By vertical, manufacturing to hold the largest
share of automatic identification and data capture market by 2023.
The
automatic identification and data capture market for the manufacturing vertical
is expected to grow during the forecast period. Automatic identification and
data capture products offer advantages such as enhanced efficiency and reduced
operational costs to the manufacturers, which is the prominent factor for the
increasing adoption of automatic identification and data capture products in
this vertical.
By product, the smart cards
segment is expected to hold the largest size of automatic identification and
data capture market during the forecast period.
The leading position of smart
cards, in terms of market size, can be attributed to its several application
areas, including identification, health cards, public transit, ATM cards,
credit cards, fuel cards, and security token, among others.
By offering hardware to hold the largest size of automatic
identification and data capture market during the forecast period.
The leading position of the
hardware segment, in terms of market size, can be attributed to the high
requirement for different types of hardware components in several automatic
identification and data capture products, including barcodes, magnetic stripe
cards, smart cards, optical character recognition (OCR) systems, RFID products,
and biometric systems.
Download Free PDF Brochure:
APAC to account for the largest size as well as the highest growth
rate during the forecast period
The leading position of APAC can
be due to the rapid expansion of retail and logistics companies, along with the
presence of several automatic identification and data capture players in the
region.
Key Market Players
Datalogic (Italy), Honeywell (US), Zebra Technologies (US), SICK
AG (Germany), and Cognex (US)
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.
Mr. Sanjay Gupta
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com
No comments:
Post a Comment