Automatic Data Capture Market Drivers and Forecasts by 2031

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.

Automatic Data Capture Market Analysis

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.

Automatic Data Capture Market Overview

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.

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Automatic Data Capture Market: Strategic Insights

Automatic Data Capture Market Drivers and Opportunities

Growing the e-commerce Industry Globally to Favor Market

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.

Executing Government Regulations and Adoption of ADC Solutions.

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.

Automatic Data Capture Market Report Segmentation Analysis

Key segments that contributed to the derivation of the automatic data capture market analysis are technology, components, and end-users.

• Based on technology, the automatic data capture market is divided into OCR, BCR, RFID, and others. The OCR segment is anticipated to grow in the forecast period.
• By components, the market is segmented into hardware, software, and services. The software segment is anticipated to grow in the forecast period.
• Based on end-users, the automatic data capture market is divided into manufacturing, retail, transportation & logistics, education & IT, healthcare, and others. The manufacturing segment is anticipated to grow in the forecast period.

Automatic Data Capture Market Share Analysis by Geography

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.

Automatic Data Capture Market Regional Insights

The regional trends and factors influencing the Automatic Data Capture Market throughout the forecast period have been thoroughly explained by the analysts at The 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.

Automatic Data Capture Market Report Scope

Automatic Data Capture Market Players Density: Understanding Its Impact on Business Dynamics

The Automatic Data Capture 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.

Automatic Data Capture Market News and Recent Developments

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:

• In July 2023, - Socket Mobile announced the launch of the DuraScan Wear DW930, the first wearable addition to its DuraScan product line. The DW930 is a state-of-the-art, wearable laser barcode scanner designed to meet the growing demands of industries such as warehousing, manufacturing, and distribution. With an emphasis on speed, flexibility, and precision, the DW930 provides a hands-free scanning solution ideal for work environments that often require the use of both hands.

(Source: Socket Mobile, Press Release, 2023)

• In June 2023, Tidypay and Global Auto ID Ltd partnered, where its payment services and Global Auto ID Ltd’s distribution strategies will help enter, establish and further expand Tidpay’s combined offerings in new markets.

(Source: Tidypay, Press Release, 2023)

Automatic Data Capture Market Report Coverage and Deliverables

The "Automatic Data Capture Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter's Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles