Automatic identification and data capture is the process of incorporating different identification techniques to ensure that the supply chain operations of any industry are simplified. This process utilizes unique identification technologies such as barcodes, QR codes, RFID tags, biometrics, magnetic strips, voice recognition and even smart cards to ensure that the commodities reach their desired destination without having to require any human involvement.
The main factors behind the growth of the market are:
The market is segmented on the basis of offering as hardware, software, services; product as barcodes, magnetic stripe cards, smart cards, OCR systems, RFID products, biometric systems; vertical as manufacturing, retail, transportation & logistics, banking & finance, healthcare, government, others.
Some of the recent market developments are as follows:
“According to Data Bridge Market Research, global automatic identification and data capture market is expected to be growing at a healthy CAGR of 12.5% during the forecast period of 2018 to 2025”
Some of the major players operating in the market are Zebra Technologies Corporation, Honeywell International Inc., Datalogic S.p.A., Bluebird Inc., Godex International, Code Corporation, Toshiba Tech Corporation, SATO Holdings Corporation, JADAK Tech, Axicon Auto ID Ltd., Microscan System, Inc., Unitech Electronics Co. Ltd., Opticon Sensors Europe B.V., IMPINJ Inc., Better Online Solutions, TSC Auto ID Technology Co., Ltd., Epson America Inc., Allien Technologies Corporation, Avery Dennison Corporation, Newland Europe B.V., and Seagull Scientific Inc. among others.
One of the major factors that are expected to attribute to the potential growth of the market is the enhancement of supply chain services in the different industries, as well as enhancement of logistics demands from the healthcare industry. Due to the wide range of benefits associated with automatic identification and data capture presenting the consumers with streamlined logistics operations so that they can enhance their supply chain performance without having to burn a hole in their revenues as the integration of these systems are simplified.