Growth in adoption of automated data capturing in retail sector is anticipated to escalate the Global ADC Market at a CAGR of 6.0%
Published Date : 02/05/2018
Latest market study on "Global ADC Market to 2025 by Technology (OCR, BCR, RFID and Others), and Components (Hardware, Software and Services); End-users (Manufacturing, Retail, Transportation & Logistics, Education & IT, Healthcare, and Others) -Global Analysis and Forecast?, The Global ADC market accounted for US$ 13.84 Bn in 2017 and is expected to grow at a CAGR of 6.0% over the forecast period 2018-2025, to account for US$ 22.02 Bn in 2025. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
In today's world, data generated or processed for various purposes is exploding and manual entries of such huge amounts of data into the computer system could prove time inefficient and ineffective with too many human errors. Rather an intelligent tool, that can on its own capture the required data from the product and store it in the computer in the digital form would prove faster, error-free and time-efficient for the end-user majorly in document processing applications. Thus, this need act as driving factor for the growth of ADC market.
The global ADC market for the end-user is fragmented into manufacturing, retail, transport & logistics, education & IT, healthcare, and other application segments. The segmentation is based upon the adoption of ADC technology by different end-user industries for better operational efficiency. The retail sector is expected to dominate the market for ADC. For the efficient operation of the retail industry, a proper balance between the demand and supply is necessary. Cost of holding inventory, life cycle of the product, consumer behavior factors can be properly analyzed and evaluated to be implemented into operations and reap the benefits in the form of cost savings. The data capture at each and every node of operation in the retail sector enables these end-users to have a complete visibility of the product being processed through various stages, streamline workflows in different areas. Consequently, retailers achieve success in providing seamless in-store customer service to their customers, efficient self-service option for the customers, error-free inventory management and easier application of analytics.
Automation is at its peak in developed as well as developing nations, as various industries in the countries are investing substantially into varied automation technologies in order to attain process optimization. Adoption of automated data capture in the country has showcased noteworthy adoption since past few years. For instance, the Clermont - Ferrand University Hospital improvised its care by streamlining of data collection. The hospital had implemented intelligent data capture system that could collect vital data of patients and medicines and convert it into a standardized format. Some of the chief players operating in the Global ADC market includes Bluebird, Inc., CIPHERLAB Co., Ltd., Denso Wave Inc., Eutronix S.A., Ingram Micro Inc. (HNA Group), SATO Holdings Corporation, ScanSource, Inc., SICK AG, TSC Auto ID Technology Co., Ltd., Zebra Technologies Corporation, Cognex Corporation, Datalogic S.p.A, Toshiba International Corporation, Honeywell International Inc. and Microscan Systems, Inc. (Omron Corporation) among others.
The report segments the ADC market as follows:
Global ADC Market- By Component
Global ADC Market- By Technology
Optical Character Recognition (OCR)
Bar Codes Recognition (BCR)
Radio Frequency Identification (RFID)
Global ADC Market- By End-user
Transportation and Logistics
Education & IT
Global ADC Market- By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SA