Meticulous Research has released a new report that predicts that the Automatic Identification and Data Capture (AIDC) market will reach $100.5 billion by 2025. That figure represents a CAGR of 12.9 percent based on the size of the market in 2019.
The AIDC market covers a wide range of identification and authentication technologies, including biometric and card-based products. According to Meticulous, RFID solutions currently comprise the largest portion of the market, though biometric tech is expected to exhibit the highest CAGR leading up to 2025. The trend is similar for non-biometric scanners and readers in relation to their biometric counterparts, with the latter becoming increasingly popular in healthcare, finance, and hospitality.
Asia Pacific offers the most potential for AIDC providers, thanks primarily to the region’s large population size coupled with a significant investment in AIDC tech. Transportation and logistics is the biggest segment of the market, although healthcare providers are adopting the technology in their efforts to streamline their operations and deliver better patient care. However, the AIDC market ultimately has applications in virtually every industry, including retail, government, education, automotive, and manufacturing.
The report highlights Honeywell, NEC, Opticon, Godex, and Cardlogix as some of the key players in the AIDC space. Cardlogix recently released a hardware and software bundle that allows companies to issue their own biometric cards, while NEC’s facial recognition algorithm has achieved top marks on the NIST’s Face Recognition Vendor Test.
Both Zion Market Research and Grand View Research have independently estimated that the biometrics market will be worth just over $59 billion by 2025, while Adroit predicts that the smart card market will reach $32.65 billion in the same window. Taken together, the two markets are approaching $100 billion, which suggests that the slightly more comprehensive Meticulous numbers are nevertheless in line with prior reporting on the AIDC industry.
November 25, 2019 – by Eric Weiss