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Real-time visibility in any process is a game changer, so that it is exciting to observe that, the global industrial automatic data capturing and identification systems market is on an interesting curve to grow at a CAGR of 5.96% during the period 2017-2021.
Research and Markets reveals that, one driver in the global Industrial Automatic Data capturing and Identification Systems Market is real-time visibility of the work done.
For instance, the logistics and manufacturing industries both require visibility of goods that are stocked into warehouses. The improvements in equipment such as RFID and barcode readers that helps in capturing data are now proving beneficial for increasing the accuracy in inventory holdings as well as reducing the stock-outs as they provide an exact available inventory level in warehouses. If proper real-time visibility is not present, it can result in huge loss of operational expenditure and time.
For those who are unfamiliar, Food and pharma industries annually incur large amount of operation expenses due to improper tracking and handling of foods during the logistics process. Majority of the manufacturing companies have a lack of visibility of products in supply chains and material handling processes. This leads to delay in time and cost, resulting in decline of profits for companies.