Global Automatic Identification and Data Capture Market to Reach $121.07 billion by 2030: Allied Market Research

Rise in adoption of AIDC solutions drives the growth of the global automatic identification and data capture market. Initially, the COVID-19 pandemic gave way to several obstacles, including the availability of resources and skilled workforce, which affected the growth of the market. However, rise in demand for e-commerce paired with the surge in demand for digital infrastructure across the government and retail sector fueled the market growth.

Portland, OR , Sept. 28, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global automatic identification and data capture market generated $37.1 billion in 2020, and is projected to reach $121.07 billion by 2030, witnessing a CAGR of 12.5% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Rise in adoption of AIDC solutions drives the growth of the global automatic identification and data capture market. However, high costs associated with installation of automatic identification and data capture system paired with the rise in concerns about malware attacks and security breaches restrain the market to some extent. On the other hand, surge in government regulations for the adoption of AIDC solutions forecasts presents new opportunities in the upcoming years.

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COVID-19 scenario:

• The outbreak of the COVID-19 pandemic has had a mixed impact on the global automatic identification and data capture market.

• Initially, the pandemic gave way to several obstacles, including the availability of resources and skilled workforce, which affected the growth of the market.

• However, rise in demand for e-commerce paired with the surge in demand for digital infrastructure across the government and retail sector fueled the market growth.

Get detailed COVID-19 impact analysis on the automatic identification and data capture market: https://www.alliedmarketresearch.com/request-for-customization/13512

The report offers detailed segmentation of the global automatic identification and data capture market based on offering, product, technology, industry vertical, and region.

Based on offering, the hardware segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the service segment is estimated to register the highest CAGR of 15.2% from 2021 to 2030.

Based on technology, the radio frequency identification segment held the largest market share in 2020, holding more than one-third of the total market share, and is expected to continue its leadership status during the forecast period. However, the smart cards segment is projected to register the highest CAGR of 16.2% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding one-third of the global automatic identification and data capture market share, and is estimated to continue its dominant share by 2030. However, Asia-Pacific is projected to manifest the fastest CAGR of 14.10% during the forecast period.

Leading players of the global automatic identification and data capture market analyzed in the research include Cognex Corporation, Datalogic S.p.A., Honeywell, NXP Semiconductors N.V., Panasonic Corporation, SICK AG, Synaptics Incorporated, Thales, Toshiba, and Zebra Technologies.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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