Automatic Data Capture (ADC) Market Analysis North America, APAC, Europe, South America, Middle East and Africa - US, China, Germany, UK, France - Size and Forecast 2024-2028

Automatic Data Capture Market Size 2024-2028 

The automatic data capture market size is projected to increase by USD 48.68 billion at a CAGR of 13.64% between 2023 and 2028. The market's growth hinges on various factors, notably the rise of smart factories and the increasing prominence of big data services. Smart factories, leveraging advanced automation and connectivity, drive efficiency and productivity, fueling demand for automatic data capture solutions. Concurrently, the surging demand for 2D wearable scanners amplifies market expansion, catering to diverse industries with their versatility and portability. Furthermore, the pervasive adoption of big data analytics empowers businesses to glean valuable insights, driving strategic decision-making and operational optimization. Together, these trends propel the automatic data capture market forward, offering innovative solutions to meet evolving industry needs and capitalize on the opportunities presented by the digital transformation era.

What will be the Size of the Automatic Data Capture Market During the Forecast Period?

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Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Alien Technology LLC: The company offers ADC such as ALR F800, which provides the industry's best Power over Ethernet transmit power and performance. Market analysis and report of qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

The Automatic Data Capture market growth and forecasting report includes key player's detailed analyses of the competitive landscape of the market and information about key companies, including Alien Technology LLC, Avery Dennison Corp., B O S Better Online Solutions Ltd., Bluebird Inc., CipherLab Co. Ltd., Cognex Corp., Datalogic SpA, DENSO Corp., Honeywell International Inc., Impinj Inc., Janam Technologies LLC, Motorola Solutions Inc., Newland Europe BV, OMRON Corp., Opticon Sensors Europe BV, Panasonic Holdings Corp., SATO Holdings Corp., TSC Auto ID Technology Co. Ltd., Unitech Computer Co. Ltd., and Zebra Technologies Corp.

Market Segmentation 

By Product 

Market Segmentation is a multifaceted landscape driven by various technologies and tools such as bar codes, transducers, biometric scanners, printers and recorders, smart cards, magnetic strips, barcode scanners, and counting mechanisms. Bar codes serve as ubiquitous identifiers, while transducers convert physical signals into digital data. Biometrics offers advanced authentication, and printers and recorders facilitate documentation. Smart cards and magnetic strips store crucial information, while barcode readers ensure accurate data capture. However, challenges like incorrect data capture persist, emphasizing the need for robust solutions to track medication, streamline care admission, and identify patients accurately. As technology evolves, the ADC market continues to expand, with innovations enhancing efficiency and security, notably exemplified by the transition from traditional magnetic stripe cards to more advanced methods.

The market share growth by the RFID segment will be significant during the forecast period. The growth of this segment is driven by the growth of the e-commerce market and the increase in the integration of technologies such as the integration of various back-end systems (customer relationship management (CRM), enterprise resource planning (ERP) software, and e-commerce websites. 

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The RFID segment was valued at USD 23.12 billion in 2018. RFID technologies are gaining high traction in the healthcare sector, where hospitals have started adopting innovative technologies to maintain and access critical hospital records and patient information. Smart cabinets, which are based on RFID technology, help reduce manual efforts to maintain, track, and manage medical inventory. RFID also helps to reduce the loss and misplacement of supplies, minimizes theft and malpractice risks, and increases savings by effectively utilizing expensive hospital equipment and machinery. Retailers, healthcare institutions, and discrete manufacturers are the major users of RFID smart cabinets. The need for inventory management is critical to these businesses. Such factors will increase segment growth during the forecast period.

Regional Overview

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APAC is estimated to contribute 43% to the growth of the global market during the forecast period. Technavio's analysts have provided an extensive insight into the market forecast, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The market is growing significantly due to the increasing adoption of concepts such as smart factories in North America. ADC is used in various processes of smart factories and industries to reduce manual work and increase the accuracy of inventory tracking.

Thus, the increase in investment in smart factories and the emergence of Industry 4.0 have led to the development of digital and physical systems that enable machine-to-machine (M2M) communication using RFID and barcode. This is also expected to drive the ADC market in the region. With the emergence of Industry 4.0, the industrial sector is using data stored in RFID tags and barcodes to provide more flexible and efficient manufacturing of customized products. This also facilitates the industrial sector with more automation and standardization. Such factors will increase the market growth in this region during the forecast period.

Market Dynamics 

In the market, diverse technologies like barcodes, biometrics, and voice recognition are driving growth. Companies like Toshiba and Godex lead innovation in scanner and reader solutions, improving efficiency and accuracy while preventing errors. The demand for biometric systems and QR codes is rising, especially in forensic sciences and criminal identification. However, challenges persist, including human errors and operational expenses. As industries seek to enhance technology for automated identification and data capture, overcoming these hurdles will be crucial for sustained market expansion. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

The rising demand for better inventory management systems is the key factor driving the growth of the global automatic data capture market. The process of inventory management involves tracking, inventorying, and forecasting future inflows or outflows of raw materials and goods. In manufacturing or production, it is necessary to know what inventory is stored or replenished and to track the movement of components within the production line. Inventory levels represent the number of resources invested in the final product. Improper inventory management directly affects business loss. In the past, inventory was tracked manually or with a barcode system.

Moreover, the emergence of ADCs with technologies such as RFID allows businesses to ensure that orders are linked to the amount of inventory that needs to be replenished. Moreover, with the use of RFID systems, information can be fed into the database faster compared with manual data feeding. RFID systems help in avoiding theft by tracking the inventory. They can also be used to analyze demand trends by observing which items are leaving the inventory fast. Thus, rising demand for better inventory management systems is expected to drive the growth of the global ADC market during the forecast period.

Significant Market Trends

The growing popularity of big data is the primary trend shaping the market growth. Big data refers to many data sets that are analyzed computationally to identify trends and patterns, especially those associated with human behavior and interactions. It is a collection of a large amount of different data, which includes digital transactions, processes, and social media. The information is collected from different systems, mobiles, and sensors. Firms use analytics to study customer behavior, future products, and user requirements, for instance, ordering a product online by providing details, such as name, residential address, and e-mail address. Such data plays an important role in the success of e-commerce giants such as Amazon.com.

ADC devices, such as barcode scanners, self-checkout systems, and rugged mobile computers, are used to read data from barcodes. This data plays a critical role in providing improved business analytics, which is also called big data. Barcodes provide data, which includes the product type, number of products sold, demography of buyers, and number of products left in the inventory. This integration of ADC with big data will benefit many industries, such as manufacturing, healthcare, transportation, and logistics. It will provide data that can be used to improve business and increase customer satisfaction. Thus, the growing popularity of big data is one of the major trends for the growth of the market during the forecast period.

Major Market Challenge

Operational issues are a major challenge impeding the growth of the market. Sometimes, the barcode scanner did not capture the correct data and entered incorrect information into the database. These barcode errors can be caused by misprinting the barcode or not meeting the resolution requirements of the scanner. Dirty scanners can also cause data to enter the system incorrectly. These factors affect the end user's image of the brand and pose a major challenge for barcode scanner retailers and manufacturers. Increased deviations and errors when using barcode scanners are a major challenge for end users in the market. RFID readers are of two types, namely handheld and fixed RFID readers, which are connected to a computer system.

An RFID reader functions on three different sets of frequencies, which include LF, HF, and UHF. LF has a short read range distance, which covers only up to one foot. An HF reader can cover up to 1-3 feet, whereas a UHF reader can cover a range of 25-100 feet. Fixed RFID readers are ideal for warehouse, asset tracking, and theft prevention applications. In the case of fixed RFID readers, end-users usually witness coverage issues where the read range is very small, and the end-user has to walk the floor and cover all the corners of the warehouse using a mobile or handheld RFID reader. Furthermore, with fixed readers, end-users need to purchase multiple RFID readers, which leads to high servicing and maintenance costs. This limitation of fixed RFID readers hinders their adoption in the market. Thus, the operational issues are halting the growth of the global ADC market during the forecast period.

Exclusive Customer Landscape

The Automatic Data Capture market forecasting report includes the adoption lifecycle of the market research and growth, market growth analysis, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth and trends strategies.

Global Market Customer Landscape

Segment Overview

The Automatic Data Capture market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

• Product Outlook 
  • RFID
  • Barcode scanner
  • Barcode printer
  • Wearable scanners
• Application Outlook 
  • Industrial
  • Financial security
  • Retail
  • T and L
  • Healthcare and others
• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview 

In the ever-evolving landscape of the market, businesses leverage a diverse array of technologies to streamline operations and bolster security. Key components like transducers and printers and recorders facilitate seamless data conversion and documentation. The advent of optoelectronics and smartphone use has revolutionized ADC, enabling convenient methods such as QR code scanning and image recognition. However, this progress is met with challenges like malware attacks and security breaches, underscoring the importance of robust measures like thermal barcode and radiofrequency identification to safeguard data. The integration of cloud computing enhances accessibility while addressing concerns of data security. The ADC market witnesses growing adoption driven by benefits like reduced queueing and transaction time. From barcode scanning to iris and facial recognition, technologies span a wide category, catering to diverse needs, from patient admittance processes to retail transactions. Amidst the convenience of technologies, managing security remains paramount, with solutions like optical character recognition and smartcards mitigating risks.

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What are the Key Data Covered in this Automatic Data Capture Market Research Report?

• CAGR of the market report forecast during the forecast period
• Detailed information on factors that will drive the growth of the market  between 2024 and 2028
• Precise estimation of the size of the market  and its contribution in focus to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across North America, APAC, Europe, South America, and Middle East and Africa
• Thorough market analysis and report of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of Industry companies

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