NEW
YORK, July 10, 2024 /PRNewswire/ -- The
global automatic data capture (ADC) market size is estimated
to grow by USD 48.68 billion
from 2024-2028, according to Technavio. The market is estimated to
grow at a CAGR of over 13.64% during the forecast period. Big data
analytics plays a crucial role in the expansion of the ADC market
by enhancing the efficiency and insights derived from captured
data. As the market grows, leveraging big data analytics enables
organizations to extract actionable insights from large volumes of
data generated by ADC technologies like RFID and barcode scanners.
This capability supports the trend towards smart factories,
optimizing operations, improving inventory management, and
enhancing overall supply chain visibility. Despite security
concerns, key players such as Alien Technology LLC, Avery Dennison
Corp., and Honeywell International Inc. are driving innovation in
this space, poised to capitalize on these technological
advancements.
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Automatic Data
Capture (Adc) Market Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
13.64%
|
Market growth
2024-2028
|
USD 48685.5
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
11.73
|
Regional
analysis
|
North America, APAC,
Europe, South America, and Middle East and Africa
|
Performing market
contribution
|
APAC at 43%
|
Key
countries
|
US, China, Germany, UK,
and France
|
Key companies
profiled
|
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 Driver
Smart factories play a crucial role in manufacturing industries
by optimizing complex processes through real-time location systems
and data analysis. These systems use tags and sensors to track
assets and combine the data with existing plant systems, providing
insights into production capacity, scalability, and potential
improvements. Smart factories offer numerous benefits, including
decreased cycle times, cost savings, error reduction, improved
quality, and effective management of product customization.
Renowned manufacturers like Audi, BMW, Aston Martin, and Airbus
have already adopted smart factories, with Airbus reporting
increased flexibility in their manufacturing process. The
implementation of smart factories is expected to significantly
contribute to the growth of the Automatic Data Capture (ADC) market
during the forecast period.
The Automatic Data Capture (ADC) market is thriving as
businesses seek to prevent errors and increase efficiency in
various industries. Barcode readers and scanners are popular
solutions for identification and counting, reducing human errors
and incorrect data capture. Technologies like self-checkout
terminals and pricing tags offer convenience and faster processing
times. In healthcare, ADC is essential for patient admittance and
tracking medication, using technologies like biometric systems,
magnetic stripe cards, and Optical Character Recognition. Enhancing
technology includes RFID, Biometrics, Voice recognition, and QR
codes. Companies like Panasonic, SATO, and Toshiba lead the market
with innovative solutions, including transducers, scanners,
printers, and recorders. ADC solutions are cost-effective,
improving operational expenses and accuracy across
sectors.
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Market Challenges
- The Automatic Data Capture (ADC) market, specifically the RFID
technology segment, faces significant challenges in ensuring data
security. RFID tags, which provide unique IDs to individual
objects, can be read by unauthorized parties if not encrypted,
posing a risk to consumer privacy. The encryption process adds to
the cost, making RFID more expensive than alternatives such as
image ID systems. These systems use nondirectional images to
generate unique IDs during the imaging process, which are later
used to collect relevant information. Unlike RFID tags, the IDs
generated in image ID systems have no value without access to the
storage database. Barcodes, another ADC technology, have numerical
and alphabetical encoding and store most sensitive information in
management software. However, RFID tags communicate using a
specific frequency, making them vulnerable to unauthorized access
and rogue tags. In the manufacturing process or during industrial
applications, RFID tags are often integrated permanently, exposing
end-users to the risk of being tracked. Integrating RFID into
credit cards poses a major risk, as data security is crucial for
consumers, governments, and corporations. RFID systems are
vulnerable to threats and must be secured properly to avoid data
theft. The two types of communication in RFID systems are back-end
and front-end. Back-end communication via IP is vulnerable to
unauthorized network access, while front-end communication via RF
is more complex and evolving, with threats including unauthorized
tag access, rogue tags, and side-channel attacks. Consumer privacy
issues arise from the RFID technology's ability to provide each
individual object with a unique ID number. The small size of RFID
tags makes them easily attachable to goods and apparel without
detection. The signals received by the interrogator are decoded to
display product information, which can be linked to additional
consumer data for profiling and predicting buying habits. To
counter consumer privacy issues, methods such as total kill tag,
semi-kill tag, tag information removal, and encryption of tags are
used. However, security concerns may hinder the growth of the
global ADC market during the forecast period. It is essential to
address these concerns through enhanced security measures and
consumer education to ensure the safe adoption of ADC
technologies.
- The Automatic Data Capture (ADC) market encompasses various
technologies like barcodes, biometrics, voice recognition, QR
codes, and more. Barcodes and QR codes simplify data gathering, but
challenges include misplacement and scanner compatibility.
Biometric scanners, such as those using iris or facial recognition,
offer enhanced security but face challenges like malware attacks
and security breaches. Transducers like printers and recorders
support barcoding, while scanners and readers decipher data. Smart
cards and magnetic strips are also used, particularly in the
healthcare sector. Companies like Panasonic, SATO, Toshiba, and
Godex lead in optoelectronics. Smartphone use and cloud computing
expand ADC applications, but managing security remains crucial.
RFID and magnetic stripe recognition offer contactless data
capture. The manufacturing, transportation, and warehouse
industries widely adopt ADC for reduced queueing and transaction
time.
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challenges - Request a sample report!
Segment Overview
This automatic data capture (adc) market report extensively
covers market segmentation by
- Product
- 1.1 RFID
- 1.2 Barcode scanner
- 1.3 Barcode printer
- 1.4 Wearable scanners
- Application
- 2.1 Industrial
- 2.2 Financial security
- 2.3 Retail
- 2.4 T and L
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 RFID- The Automatic Data Capture (ADC) market is
experiencing significant growth, particularly in the RFID segment.
This growth is driven by the expanding e-commerce industry and the
integration of technologies such as CRM, ERP, and e-commerce
websites. In the US, e-commerce sales reached USD299.1 billion in Q4 of 2022, a 4.1% increase
from Q3, underscoring the sector's growth. RFID systems are crucial
for retailers, who use them to enhance operational efficiencies,
reduce delivery cycle times, and minimize misallocations and
defects. In healthcare, RFID technology is employed in smart
cabinets, which help manage medical inventory, minimize losses, and
increase savings. Chipless RFID technology, which is less expensive
than chip-embedded RFID, is gaining popularity, especially in the
textile industry. The RFID segment is expected to continue growing
due to the increasing adoption of advanced RFID solutions, such as
RAIN RFID cards, which offer long-read ranges and low tag costs,
making asset tracking and inventory management more automated and
cost-effective. The logistics, transport, retail, and healthcare
sectors are major adopters of RAIN RFID cards, contributing to the
growth of the RFID segment and the overall ADC market.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2017-2021) - Download a Sample Report
Research Analysis
The Automatic Data Capture (ADC) market encompasses various
technologies such as bar codes, QR codes, biometrics, voice
recognition, and transducers, which enable automated identification
and data capture. These technologies include scanners and readers
like barcode readers and biometric scanners, printers and
recorders, and smart cards with magnetic strips. The healthcare
sector is a significant end-user, utilizing ADC for preventing
errors in medication tracking, care admission, and identifying
patients. Enhancing technology, ADC systems are increasingly being
adopted to reduce human errors and incorrect data capture, thereby
minimizing operational expenses. Applications of ADC extend beyond
healthcare, including forensic sciences for criminal identification
and biometric systems. Key technologies like biometric scanners and
magnetic stripe cards continue to evolve, offering improved
accuracy and efficiency.
Market Research Overview
The Automatic Data Capture (ADC) market encompasses various
technologies such as barcodes, QR codes, biometrics, voice
recognition, and transducers, which enable automatic identification
and data capture. Barcodes, including thermal barcodes and standard
barcodes, are widely used for gathering data from various
industries, including manufacturing, transportation, and
healthcare. QR codes and image recognition are increasingly popular
for contactless transactions and product scanning. Biometric
scanners, including iris recognition and facial recognition, offer
enhanced security and convenience in sectors like healthcare and
finance. Smart cards, magnetic strips, and RFID are other
technologies used for data capture and identification. The adoption
of ADC technologies is growing due to their ability to reduce
manual data entry, prevent errors, and improve processing time.
However, concerns around data security, malware attacks, and
security breaches persist. Cloud computing and data security are
becoming essential aspects of ADC systems, ensuring the safe
storage and management of captured data. The use of smartphones for
QR code scanning and speech recognition further expands the
market's reach. The ADC market serves a wide range of industries,
from manufacturing and transportation to healthcare and forensic
sciences, with applications including self-checkout terminals,
patient admittance process, and criminal identification. The
convenience and operational cost savings offered by these
technologies continue to drive their adoption.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- RFID
- Barcode Scanner
- Barcode Printer
- Wearable Scanners
- Application
-
- Industrial
- Financial Security
- Retail
- T And L
- Others
- Geography
-
- North America
- APAC
- Europe
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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