ALBANY, N.Y., Aug. 26, 2021 /PRNewswire/ — Automatic Identification and Data Capture (AIDC) Market: Broad Contours
Automatic identification and data capture (AIDC) technologies have substantially extended in scope in the way information is collected and used to manage inventory, assets, and documents. Numerous sectors notably including retail, manufacturing, and healthcare are harnessing AIDC in logistics and supply chain management.
Advancements in RIFD and biometric technologies have enabled technology companies to seek new revenue streams, and will help propel the automatic identification and data capture market to expand at a CAGR of 9.5% during the forecast period from 2020 to 2030.
Several benefits of AIDC technologies in real-time management of assets & inventory and their application in digitization of documents are motivating businesses in various industries to adopt them. Globally, the deployment of barcode scanners, biometric systems, and optical character recognition (OCR), and radio frequency identification (RFID) systems has risen, particularly in government and financial services sectors.
The high costs of biometric systems pose as key impediment to sales in the automatic identification and data capture (AIDC) market. On the other hand, software companies are focused on incorporating innovative features in data capture software, which is likely to bolster their uptake in the near term. Furthermore, the adoption of RFID by supply chain managers in the…