Research and Markets has announced the addition of the "Global Industrial Automatic Data Capturing and Identification Systems Market 2015-2019" report to their offering.
The global industrial automatic data capturing and identification systems market to grow at a CAGR of 5.69% over the period 2014-2019.
This report covers the present scenario and growth prospects of the global industrial automatic data capturing and identification systems market for the period 2015-2019. To calculate the market size, the report covers revenue generated from various products, including sensors, machine vision systems, laser trackers, integration systems, and identification solutions.
The market has witnessed few M&As in the last five years, which has enabled the acquirers to dominate the market through acquired technology and distribution network. The acquisition also helps companies to gain control over product pricing in cost-sensitive markets. This trend of M&As is likely to continue during the forecast period and propel market growth.
According to the report, in the present business scenario, information sharing, retrieving, and documenting within an organization regarding industry best practices and day-to-day operations are basic requirements. Companies are shifting to digital platforms for better process control, flexibility, and easy overseeing of daily processes. Complete automation of facilities helps reduce human involvement, defects, machine downtime, and operational costs; improve information sharing and operational control; and prevent major factory accidents.
Further, the report states that sometimes barcode scanners may fail to capture accurate data and thus might store incorrect information in the database. This can occur when labels have printing defects or they do not adhere to scanner resolution requirements. Dirt on scanners can also lead to misinterpretation of data, leading to storage of incorrect information in the system. These factors affect the brand image of end-users and pose a threat to the adoption of barcode systems.