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Automatic Identification and Data Capture Market Size

  • Report ID: GMI7395
  • Published Date: Nov 2023
  • Report Format: PDF

Automatic Identification and Data Capture Market Size

Automatic Identification and Data Capture Market size was valued at USD 50.5 billion in 2022 and is estimated to register a CAGR of 13.5% between 2023 and 2032. The increasing construction of warehouses dedicated to storing and managing electric components including those used in electric car production will drive the market growth. These warehouses rely on automatic identification and data capture technologies for efficient inventory management, accurate tracking, and streamlined logistics. For instance, in May 2023, Maersk collaborated with Bauwo, a project developer, to construct a 20,000-square-meter logistics facility. This center will be dedicated to storing & managing electric car batteries and components used in battery production.

 

Automatic Identification and Data Capture Market

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The growing demand for supply chain optimization is a key factor propelling the automatic identification and data capture market expansion. Businesses are increasingly adopting automatic identification and data capture technologies to enhance efficiency, reduce operational costs, and improve the overall supply chain visibility. Automatic identification and data capture solutions including barcode systems, RFID technology, and mobile data capture devices, enable accurate tracking, inventory management, and real-time data analysis. As companies seek to streamline their supply chains and improve competitiveness, the demand for automatic identification and data capture technologies will continue to rise.
 

High initial costs deter businesses from adopting automatic identification and data capture technologies. The substantial investments required for purchasing hardware, software, and employee training can strain the budgets of Small & Medium-sized Enterprises (SMEs). Often, the financial burden restrains these businesses from embracing automatic identification and data capture solutions, hindering their ability to improve operational efficiency and data accuracy. Finding cost-effective options and exploring scalable solutions are crucial to overcoming these challenges and promoting wider adoption of automatic identification and data capture across industries.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of automatic identification and data capture reached USD 50.5 billion in 2022 and is set to grow at 13.5% CAGR from 2023 to 2032, due to the increasing construction of warehouses dedicated to storing and managing electric components worldwide.

The hardware component segment held over 45% of the market share in 2022, owing to its capability to enhance work productivity through barcode printers.

North America accounted for 30% of the market share in 2022, attributed to the continuous technological advancements and strong emphasis on research and development in the region.

Panasonic Corporation, Denso Global, Honeywell International Inc, Toshiba corporation, Thales Group, Zebra Technologies Corporation, NCR Corporation, SICK AG, and Congex Corporation are some of the major automatic identification and data capture companies worldwide.

Automatic Identification and Data Capture Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 285
  • Countries covered: 21
  • Pages: 200
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