The overall AIDC market is expected to grow from USD 40.1 billion in 2020 to USD 80.3 billion by 2025; it is expected to grow at a CAGR of 14.9% during 2020–2025. Key factors fueling the growth of this market include growing e-commerce industry globally; increasing use of smartphones for QR code scanning and image recognition; rising adoption of AIDC solutions due to their ability to minimize queuing and transaction time and provide greater convenience to users in making small-value payments; and surging adoption of AIDC solutions by banking and financial institutions to ensure customer safety and security, along with data privacy. An increasing number of patients and deaths due to COVID-19 will force all the countries to increase their healthcare expenditure, which is expected to have a positive impact on the growth of the market for AIDC products.
Key players in the AIDC market comprise companies operating at different stages of the value chain. These include Honeywell (US), Datalogic S.p.A. (Italy), Zebra Technologies (US), SICK AG (Germany), Cognex Corporation (US), Toshiba (Japan), Panasonic Corporation (Japan), Thales (France), and NXP Semiconductors N.V. (Netherlands). Many of these companies focus on adopting both organic and inorganic growth strategies, such as product launches and developments, mergers and acquisitions, expansions, contracts, partnerships, agreements, and collaborations to strengthen their position in the market.
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Top 2 players in automatic identification and data capture (AIDC) market:
Honeywell (US) is a global manufacturer of automatic identification and data capture solutions. In 2019, Honeywell stood first in the global automatic identification and data capture market, primarily on the basis of its product portfolio, R&D investments, market penetration, and geographic reach. Honeywell is a diversified technology and manufacturing company offering building automation systems, commercial combustion control systems, scanners, computer devices, wearable devices, RFID solutions, connected vehicle solutions, advanced automotive technologies, muck boots, puddletons rain boots, protective equipment, sensors, and switches, among many others.
Datalogic (Italy) is a subsidiary of Hydra S.p.A., which is an Italy-based automatic identification solution provider. Datalogic is a public listed company, which is a leader in automatic data capture and process automation markets and an expert in designing and production of mobile computers, barcode readers, vision and laser systems, measurement and safety devices, and sensors. The company, with its innovative products, helps enhance the efficiency and quality of processes in the manufacturing, retail, healthcare, and transportation and logistics industries.
Automatic Identification and Data Capture Market by Product (Barcodes, Smart Cards, OCR Systems, RFID Products, and Biometric Systems), Offering (Hardware, Software, and Services), Vertical, and Geography - Global Forecast to 2023- Global Forecast to 2025
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