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Market Size in USD Billion
| 2022 –2029 | |
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USD 18.04 Billion |
| USD 83.44 Billion | |
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Global Healthcare Automatic Identification and Data Capture Market, By Technology (Barcode, RFID, Biometrics, and Smart cards), Product (Scanner, Mobile Computers, and Software), End-User (Logistics, Healthcare, BFSI, Manufacturing, and Retail) – Industry Trends and Forecast to 2029
The global healthcare automatic identification and data capture market is expected to witness significant growth during the forecast period. Automatic identification and data collection are methods that can be entered into a computer without human intervention and are useful in identifying and collecting data. Growth in automatic identification and data acquisition has primarily increased the need to reduce manual data collection and data entry errors, growth in government initiatives for the use of automatic identification and data capture technology, and increased use of automatic identification and data capture systems in e-commerce. However, the large capital spending on the deployment of RFID and biometric systems and the lack of awareness of automatic identification and data capture applications in developing countries can hinder market growth.
Data Bridge Market Research analyses a growth rate in the global healthcare automatic identification and data capture market in the forecast period 2022-2029. The expected CAGR of global healthcare automatic identification and data capture market is tend to be around 21.10% in the mentioned forecast period. The market was valued at USD 18.04 billion in 2021, and it would grow upto USD 83.44 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Automatic identification and data capture technologies identifies objects or images, captures data, and stores it directly into computer systems without human interference on its own. The automatic identification and data capture technology is used for inventory and asset management, security, workflow management across several industries, including manufacturing, retail, transportation & logistic, healthcare, government, and hospitality, among others. The growth of this market is very much expected in the forecast period.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Technology (Barcode, RFID, Biometrics, and Smart cards), Product (Scanner, Mobile Computers, and Software), End-User (Logistics, Healthcare, BFSI, Manufacturing, and Retail)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Datalogic S.p.A (Italy), SICK AG (Germnay), Honeywell International Inc. (U.S.), Cognex Corporation (U.S.), Toshiba TEC Corporation (Japan), NXP Semiconductors (Netherlands), SATO Holdings Corporation (Japan), The Code Corporation (U.S.), Jadak - A Novanta Company (U.S.), Unitech Electronics Co., LTD. (Taiwan), Impinj, Inc. (U.S.), Denso Wave Europe (Germany), Avery Dennison Corporation (U.S.)
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Market Opportunities
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Drivers
Biometric systems have been widely used in several areas, such as forensic sciences for criminal identification, automobiles for keyless entry and ignition, and customer recognition for mobile transactions. Additionally, increasing the adoption of biometric authentication devices, specifically for international border crossing, to enhance national security is expected to drive market growth in the forecast period.
Governments in different countries often suffer significant losses in enforcement and customs due to incorrect data collection, human error, or deliberate avoidance. To solve these problems, government agencies around the world are enacting and enforcing various laws to improve the adoption of AIDC technology in different industries. These rules and regulations help organizations increase information visibility, improve operational efficiency, reduce operational costs through accurate data collection and For instance, in 2020, the Railway Information Systems Center (CRIS, IT Department of Indian Railways), GS1 India, and Indian Industry will work together to closely monitor and track the movement of railways across India with a focus on safety.
Opportunities
A huge demand is witnessed to maintain the healthcare workers' huge patient workflow and feasibility by maintaining real-time visibility on various devices and assets. As patient safety is concerned and technology is evolving there is a growing opportunity that drives the market for Global Healthcare Automatic Identification and Data Capture (AIDC) Market.
Technological advancements such as integration of barcode, biometric authentication, and RFID in automatic identification and data capture are increasingly applicable in several functions across industries, including manufacturing, transportation & logistics, retail, healthcare, and others, which significantly boosts the market. They are increasing among industries due to its emergence of smart technologies, which created ample opportunities to improve user experience.
Restraints/Challenges
The lack of qualified personnel who are unable to use these systems and softwares could curb the growth of the global healthcare automatic identification and data capture market over a forecast period.
High cost of these software systems can hinder the growth of the global healthcare automatic identification and data capture market even though the prevalence of the medical imaging displays are high.
This global healthcare automatic identification and data capture market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global healthcare automatic identification and data capture market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 has caused an unprecedented global public health crisis that has impacted virtually every business. Its long-term repercussions are expected to influence industry growth during the forecast period.
To keep up with rising regulatory pressures while maintaining a safe environment for patients and employees, the healthcare industry is constantly evolving. These devices can help hospitals deal with the increased pressure caused by the increase in patients. The rising number of patients and deaths as a result of COVID-19 will likely increase healthcare spending, prompting the market for healthcare automatic identification and data capture to expand.
The global healthcare automatic identification and data capture market is segmented on the basis of technology, product and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Technology
Product
End-User
The global healthcare automatic identification and data capture market is analysed and market size insights and trends are provided by technology, product and end user as referenced above.
The major countries covered in the global healthcare automatic identification and data capture market are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is the dominating region in the global healthcare automatic identification and data capture market due to high adoption of advanced technologies for aiding better healthcare to patients, demand for better healthcare facilities, and healthcare expenditure.
Meanwhile, the Asia-Pacific region has shown significant growth in the global healthcare automatic identification and data capture market due to growing demand for healthcare automation, growing per capita income, increasing investments in the healthcare industry by major market players.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
The global healthcare automatic identification and data capture market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to healthcare automatic identification and data capture market.
Key players operating in the global healthcare automatic identification and data capture market include:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.