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According to a new market research report published by Acute Market Reports “Radio Frequency Identification (RFID) Readers Market – Growth, Future Prospects, and Competitive Analysis, 2018 – 2026”, the global market for RFID readers was valued at US$ 2,755.3 million in 2017 and is set to show double-digit growth over the 2018-2026 forecast period.
Market Insights
The RFID technology has emerged as one of the most promising technologies for asset tracking and identification of personnel. The technology eliminates incorrect and cumbersome manual asset tracking, thus enhancing productivity. In addition, RFID technology offers numerous advantages over barcode scanning. This makes the technology highly suitable for applications such as retail, transport & logistics, industrial manufacturing, and many others.
Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/rfid-readers-market
The fastest-growing retail sector worldwide is the most prominent driver of the RFID readers ‘ market. The number of shopping centers, led primarily by the Asia Pacific, continues to grow globally. Given the widespread use of RFID technology, the growing retail sector would ensure strong market growth for RFID readers during the forecast period. Furthermore, the rapidly growing e-commerce sector around the world is further creating a need for efficient asset tracking from warehouses. Subsequently, the market for RFID readers is set to register a strong growth rate during the forecast period. Apart from retail, the RFID sector is expected to see increased demand from the healthcare sector. North America and Europe are leading the way in adopting RFID technology in the healthcare sector.
The market for RFID readers is segmented by product type, frequency, vertical industry, and geography. Based on the product type, the handheld RFID readers segment led the global market with a value-added share of over 60 per cent in 2017. Retail and transport & logistics are the largest end-users of RFID readers. Due to the high preference of handheld readers across these applications, the segment would continue to dominate the market. The segment growth is also underpinned by the low cost and ease of use offered by handheld readers compared to their fixed counterparts. Moreover, based on geography, Asia Pacific led the global market for RFID readers in 2017 with almost 40% market share. The steady growth of the retail sector in the region, together with the increasing penetration of the industrial sector, is a key driver of regional market growth.
The overall market for RFID readers is quite fragmented in nature, with the presence of numerous regional and international players on the market. Market players emphasize product enhancement in order to provide RFID solutions for multiple applications. With a growing inclination towards RAIN RFID, companies are now moving towards the production of RAIN RFID readers with added features. For example, in January 2018, Alien Technology introduced a new RFID reader with all-day battery life. The new RFID reader is designed to run on iOS and Android operating systems.
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List of Companies Covered:
- Zebra Technologies Corporation
- Impinj, Inc.
- Alien Technology Corporation
- Invengo Technology Pte. Ltd.
- Xerox Corporation
- Honeywell Safety and Productivity Solutions
- GAO RFID, Inc.
- Datalogic S.p.A.
- CipherLab Co., Ltd.
- ThinkMagic (Trimble)
- Technology Solutions UK Ltd. (TSL)
Market Segmentation:
By Product Type Segment
- Handheld RFID Readers
- Fixed RFID Readers
By Frequency Segment
- Low Frequency (125 kHz – 134 kHz)
- High Frequency (13.56 MHz)
- Ultra-high Frequency (860 MHz to 960 MHz)
- Combined
By Industry Vertical Segment
- Apparel & Retail
- Pharmaceutical & Healthcare
- Transportation & Logistics
- Industrial Manufacturing
- Automotive
- Others (Agriculture, Oil & Gas, Government, etc.)
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)
Key questions answered in this report
- What was the market size of RFID readers in 2017 and forecast up to 2026?
- Which is the largest regional market for RFID readers?
- What are the notable market trends observed in the RFID readers market?
- Who are the key players leading the market?
- What are the key strategies adopted by the leading players in the market?
Access Free Sample Copy of Research Report: https://www.acutemarketreports.com/request-free-sample/138218