Automatic Identification and Data Capture Market Worth 72.00 Billion USD by 2023
06 Jun, 2018, 16:00 BST
PUNE, India, June 6, 2018 /PRNewswire/ --
According to the new market research report "Automatic Identification and Data Capture Market by Product (Barcodes, Magnetic Stripe Cards, Smart Cards, OCR Systems, RFID Products, and Biometric Systems), Offering (Hardware, Software, and Services), Vertical, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the market is expected to grow from USD 40.31 Billion in 2018 to USD 72.00 Billion by 2023, at a CAGR of 12.30% between 2018 and 2023. The growth of the automatic identification and data capture market is propelled by the growing e-commerce industry, increasing use of smartphones for QR code scanning and image recognition, and rising adoption of automatic identification and data capture solutions by financial institutions. Factors such as rising government regulations and growth opportunities from supply chain management and healthcare industries are expected to support the growth of the automatic identification and data capture market.
(Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )
Browse 67 market data Tables and 57 Figures spread through 178 Pages and in-depth TOC on "Automatic Identification and Data Capture Market"
Early buyers will receive 10% customization on this report
Hardware is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.
Among all offerings, hardware held the largest share of the automatic identification and data capture market in 2017. The high requirement for hardware components in several automatic identification and data capture products such as barcodes, magnetic stripe cards, smart cards, optical character recognition (OCR) systems, RFID tags, printers and readers, and biometric systems has contributed to the leading position of the hardware segment in terms of market size.
Ask for PDF Brochure @ https://www.marketsandmarkets.com/pdfdownload.asp?id=194254012
Manufacturing is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.
Among all verticals, manufacturing held the largest share of the automatic identification and data capture market in 2017. The leading position of the manufacturing vertical, in terms of market size, can be attributed to benefits offered by automatic identification and data capture solutions such as enhanced efficiency and reduced operational costs, which enables the sector to effectively handle the increasing number of goods flowing through the supply chain process.
Market for biometric systems is expected to register the highest CAGR during the forecast period.
Among all product categories of automatic identification and data capture solutions, the market for biometric systems is expected to grow at the highest CAGR between 2018 and 2023. The ability to automatically identify a person based on physiological characteristics is the major factor driving the growth of the market for biometric systems.
APAC is expected to hold the largest share of the automatic identification and data capture market between 2018 and 2023.
Among all regions, APAC held the largest share of the automatic identification and data capture market in 2017. The leading position of APAC can be attributed to the rapid expansion of retail and logistics companies supported by the presence of several automatic identification and data capture players in the region.
Major players in the automatic identification and data capture market are Datalogic (Italy), Honeywell (US), Zebra Technologies (US), SICK AG (Germany), Cognex (US), Toshiba (Japan), NEC (Japan), NXP (Netherlands), Synaptics (US), and SATO (Japan).
Know more about the Automatic Identification and Data Capture Market:
https://www.marketsandmarkets.com/Market-Reports/automatic-identification-data-capture-market-194254012.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Blog: http://www.marketsandmarketsblog.com/market-reports/electronics-and-semiconductors
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets
SOURCE MarketsandMarkets
