Latest News- Automatic Data Capture (ADC) Market: RFID is expected to lead the Product segment during 2024-2028

The Automatic Data Capture (ADC) Market is being driven by Increasing application of RFID

The Automatic Data Capture (ADC) Market is expected to grow at a CAGR of 13.64% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 48685.5 million. In today's manufacturing landscape, smart factories are revolutionizing the industry by optimizing complex processes and providing real-time analysis of product components. Utilizing advanced technologies such as real-time location systems with tags and sensors, these factories gather critical data to enhance production capacity, efficiency, and scalability. By automating procedures and reducing errors, smart factories enable significant cost savings and improved product quality. Furthermore, they facilitate customization through error proofing, making them indispensable for industries like automobile and aerospace, including companies such as Audi, BMW, Aston Martin, and Airbus. These factories provide valuable insights to relevant personnel and tools, enabling informed decision-making and strategic planning. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • RFID
  • Barcode scanner
  • Barcode printer
  • Wearable scanners
• Application
  • Industrial
  • Financial security
  • Retail
  • T and L
  • Others
• Geography
  • North America
    • US
  • APAC
    • China
  • Europe
    • Germany
    • UK
    • France
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing application of RFID
• Rising demand for better inventory management systems
• Growing adoption of 2D barcodes

However, the market also witnesses some limitations, which are as follows:

• Security concerns
• Integration with existing systems in ADC
• Operational issues

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Market Scope in Automatic Data Capture (ADC) Market Research Report

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Research Analysis Overview

The Automatic Data Capture (ADC) market encompasses various technologies such as barcodes, biometrics, voice recognition, QR codes, and transducers, which are utilized through scanners and readers for automated identification. This includes barcode scanners and readers, biometric scanners, printers, and recorders. Technologies like barcodes, smart cards, magnetic strips, and QR codes facilitate error-free identification, counting, and tracking in sectors like healthcare for care admission, medication, and patient identification. Brands like Panasonic, SATO, Toshiba, Godex, and Biometric Systems are major players in this market, offering solutions to prevent human errors and incorrect data capture, thereby reducing operational expenses. Additionally, advanced technologies like voice recognition and biometric systems are enhancing identification processes in forensic sciences and criminal identification.

Market Research Overview

The Automatic Data Capture (ADC) market encompasses technologies such as barcodes, biometrics, voice recognition, QR codes, transducers, scanners and readers, biometric scanners, printers and recorders, smart cards, magnetic strips, and is a segment of the broader Global Technology Hardware, Storage, and Peripherals Market. This market is sized based on revenue generated from the sales of hardware devices, equipment, and components. Key players in this sector include Panasonic, SATO, and Toshiba. The Global Technology Hardware, Storage, and Peripherals Market's growth is driven by the increasing demand for data centers due to the COVID-19 pandemic's impact on remote work. This market covers manufacturers of cellular phones, personal computers, servers, electronic computer components, and peripherals, as well as data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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