AIDC (Automatic identification and data capture) is identified under broad category of technologies that are used to collect informative data from object, individual, sound or image automatically without a need for manual data entry. The automatic identification system provides identification, verification, communication, record handling and information storage in discreet or packaged items.
According to the report by Future Market Insights, the global automatic identification market is slated to touch a value of US$ 340 Mn by the end of 2027. The global automatic identification market is expected to register a moderate CAGR of 6.4% during the forecast period. Following insights have been excerpted from an exclusive interview between a journalist and market analyst associated with Future Market Insights.
Based on your research over the recent past, what dynamic factors are responsible for the evolution of automatic identification as a groundbreaking technology?
Enforcement of stringent regulations for rising safety concern has led to increase adoption of automatic identification system across the globe. Due to this market player involved in provision of automatic identification systems and solutions are likely to invest in research & development field. The solution providers are strongly focusing to continuously upgrade their product portfolio in order to meet futuristic demand of end user and aims to set foothold in the global automatic identification system market.
As per FMI’s demarcation on automatic identification system market, where do you think companies find potential opportunities in future?
With the arrival of latest technologies, emerging cloud based or satellite based communication is likely to offer tremendous opportunities for market players in order to integrate advance automatic identification system with satellites. At present, integration of cloud management for automatic identification system is at developing stage. However, it is likely to have positive impact on demand for automatic identification system owing to advanced and smart features of cloud management.
Who are the key stakeholder to implement on integration of innovative technologies in automatic identification system?
Several companies are aiming towards establishment of long tie ups with solution provider in order to provide an entire package of hardware, software and additional services in automatic identification system. Europe based companies like Wartsila Corporation, True Heading AB, Raymarine, Jotron AS and C.N.S. Systems AB are likely to implement on aforementioned strategic actions. Other companies operating in the North America such as L3 technologies, Orbcomm Inc., Garmin and ACR Electronics Inc. are expected to witness profitable market gains in automatic identification system market.
In terms of application of automatic identification system, are there any specific areas of application that are presenting significant increase/decrease in demand?
Several applications such as vessel tracking, maritime security and fleet management among others are likely to surge demand for automatic identification system. Among these, application of automatic identification systems is likely to remain high in vessel tracking during the forecast period. Installation of automatic identification system in this segment is expected to gain value of US$ 180 Mn by the end of 2027.
According to you, how has conventional identification system changed in the Asia-Pacific excluding Japan (APEJ) over the recent past?
As per regional market analysis, APEJ is expected to witness substantial growth in the global automatic identification system market. This is highly attributed to increasing technological advancement in freight industry in this region. Growing marine industry in APEJ has led to surge demand for safety and security measures. Thereby, demand for automatic identification system is expected to remain high in during the forecast period.
For instance, high density traffic in the narrow route of Malacca Strait Route in APEJ is expected to offer significant opportunities for automatic identification system providers. It is one of busiest route among all sea routes across the globe thereby, anticipates to demand advanced automatic identification system to avoid high risk of collision
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