The automatic data capture market size is projected to reach US$ 93.58 billion by 2031 from US$ 38.06 billion in 2023. The market is expected to register a CAGR of 11.9% in 2023—2031. The growing e-commerce industry globally and the increasing use of smartphones are likely to remain key automatic data capture market trends.
Growing e-commerce globally, the use of smartphones for QR code scanning and image recognition, the rising adoption of AIDC solutions because they reduce transaction times and queuing times and give users more convenience when making small-value payments, and the rapidly increasing use of AIDC solutions by banking and other institutions are some of the key factors driving the growth of this market.
The process of scanning, recognizing, capturing, evaluating, recording, and saving data from a person, video, picture, or audio without the need for manual entry is known as automatic data capture or ADC. AIDC systems are frequently used for asset management, inventory control, delivery, document scanning, and security. Among the industries served by AIDC's industrial applications include distribution, retail and warehousing, food and beverage, chemical, pharmaceutical, automotive, and retail.
Products for automatic identification and data collection, such as wearables, radio frequency identification (RFID) systems, and barcoding solutions, are essential to warehouse management and the e-commerce sector. The e-commerce sector benefits from the deployment of AIDC technology in a number of ways, including automatic item identification, highly accurate and precise data collection, and electronic data entry into computer systems. The system maintains accurate records of inventory accounts, human resources, and general procedures, which contributes to increased overall productivity and operational efficiency.
Government rules requiring the use of automated data collection can establish a uniform framework and encourage companies to spend money on complying products. This need may spur competition and innovation in the market for autonomous data capture, resulting in the development of more sophisticated, effective, and affordable solutions. It can also broaden the market as other sectors and areas embrace these technologies in order to comply with regulations, opening up new business potential for companies in this market.
Key segments that contributed to the derivation of the automatic data capture market analysis are technology, components, and end-users.
The geographic scope of the automatic data capture market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the automatic data capture market. High technology adoption trends in various industries in the North American region have fuelled the growth of the automatic data capture market. This high percentage can be ascribed to rising government investment and legislation, especially in the manufacturing, retail, and healthcare sectors, as well as rising knowledge of and usage of AIDC devices. The development of various sectors and the general acceptance of new technologies are also propelling the growth of the regional market. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. All these factors contribute to the region's growth of the automatic data capture market.
The regional trends and factors influencing the Automatic Data Capture Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automatic Data Capture Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 38.06 Billion |
| Market Size by 2031 | US$ 93.58 Billion |
| Global CAGR (2023 - 2031) | 11.9% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automatic Data Capture Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automatic Data Capture Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automatic data capture market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:
(Source: Socket Mobile, Press Release, 2023)
(Source: Tidypay, Press Release, 2023)
The "Automatic Data Capture Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The global automatic data capture market is expected to reach US$ 93.58 billion by 2031.
The key players holding majority shares in the global automatic data capture are Bluebird Inc., CipherLab Co., Ltd., DENSO WAVE INCORPORATED, Ingram Micro, Entronix, SATO Holdings Corporation, ScanSource, Inc., SICK AG, TSC Auto ID Technology, Datalogic S.p.A.
Executing government regulations and adoption of ADC solutions is anticipated to play a significant role in the global automatic data capture market in the coming years.
The growing e-commerce industry globally and the increasing use of smartphones are the major factors that propel the global automatic data capture market growth.
The global automatic data capture market was estimated to be US$ 38.06 billion in 2023 and is expected to grow at a CAGR of 11.9 % during the forecast period 2024 - 2031.