The forecast year for the Global AIDC Market is 2030; it was valued at US$ 39.5 billion in 2021 and is anticipated to grow at a CAGR of 14.4% to reach US$ 80.7 billion.
The process of gathering, capturing, and converting data into a digital file is known as automatic identification and data capture, or AIDC. Images, audio, and other digital data can be entered into a computer directly from this digital file without the need for human intervention.
Barcode scanners, magnetic strips, smart cards, optical character recognition, biometric systems, and radio frequency identification systems are a few of the frequently used AIDC tools. The tools carry out tasks for security, workflow management, and asset and inventory management.
Market overview
One of the main factors that creates a positive outlook for the automatic identification and data capture (AIDC) market is the increase in digitization along with the growing automation across industries. Additionally, a rise in consumer awareness of the use of sophisticated AIDC systems for data security is contributing to the market's expansion.
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The use of tools like biometric systems, radio frequency identification, etc. is expanding in the healthcare industry, primarily due to increased information visibility, accurate data collection, and operational efficiency. The barcoding, wearable, and radio frequency identification (RFID) solutions offered by the AIDC Market are essential to the e-commerce sector as well as warehouse management.
The use of AIDC technology aids the e-commerce sector in both automatically identifying the products as well as accurately and precisely gathering data about them and entering that data electronically into the computer system. By properly tracking inventory, accounts, human resources, and overall processes, technology has contributed to an increase in overall productivity and operational efficiency.
Barcode scanners, rugged tablets, handheld laser scanners, and fixed-position imagers are the most frequently used devices for data identification and collection.
Economic growth
The automatic identification and data capture products are currently facing a number of significant challenges, including security issues like malware attacks and data duplication, which in turn presents difficulties for the players in the AIDC market.
The goal of implementing automatic identification and data capture technologies, particularly biometrics, whose sole purpose is to provide enhanced and an additional layer of security, is defeated by these security flaws.
One of the factors promoting growth is the development of various technological advancements, such as RFID systems. These gadgets include scanners and tags that can be applied to telemetry applications, sports, manufacturing, retail, education, logistics, and other fields.