According to a new market research report published by Credence Research “Radio Frequency Identification (RFID) Readers Market (Product Type – Handheld RFID Readers and Fixed RFID Readers; Frequency – Low Frequency (125 kHz – 134 kHz), High Frequency (13.56 MHz) and Ultra-high Frequency (860 MHz to 960 MHz); Industry Verticals – Apparel & Retail, Pharmaceuticals & Healthcare, Transportation & Logistics, Industrial Manufacturing, Automotive and Others (Agriculture, Oil & Gas, Government etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global RFID readers market was valued at US$ 2,755.3 Mn in 2017 and is set to demonstrate double digit growth during the forecast period from 2018 to 2026.
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RFID technology has emerged among the most promising technologies in asset tracking and personnel identification. The technology eliminates erroneous and tedious manual asset tracking, thereby enhancing productivity. Additionally, RFID technology offers numerous benefits over barcode scanning. This makes the technology highly suitable for applications including retail, transportation & logistics, industrial manufacturing and several others.
The most prominent factor driving the RFID readers market is the consistently growing retail sector worldwide. Led primarily by Asia Pacific, number of shopping centers continues to grow globally. Considering the wide application of RFID technology, rising retail sector would ensure strong RFID readers market growth during the forecast period. Further, rapidly growing e-commerce sector across the world further create need for effective asset tracking from warehouses. Subsequently, RFID readers market is set to register strong growth rate during the forecast period. Apart from retail, RFID sector is expected to witness increased demand from healthcare sector. North America and Europe are leading the adoption of RFID technology in healthcare sector.
Some of the major RFID reader players profiled in the report include Zebra Technologies Corporation, Alien Technology Corporation, Impinj, Inc., Xerox Corporation, Invengo Technology Pte. Ltd., Honeywell Safety and Productivity Solutions, Datalogic S.p.A., GAO RFID, Inc., ThinkMagic (Trimble), CipherLab Co., Ltd., Technology Solutions UK Ltd. (TSL) and others.
Growing Adoption of RFID Technology across Numerous Industry Verticals to Drive the RFID Readers Market
The overall RFID readers market expected to demonstrate double digit CAGR during the forecast period from 2018 to 2026, up from US$ 2,755.3 Mn in 2017. RFID technology has emerged among the most revolutionary elements across numerous applications including retail, industrial manufacturing, transportation, supply chain management, healthcare and various others. Due to its ease of use, reliability and greater detection range, RFID technology has witnessed profound penetration across numerous industry verticals, thereby emerging as replacement for barcodes. Thus, with growing penetration of RFID technology worldwide, the demand for RFID readers is expected to remain strong over the forecast period. RFID readers segment accounts for over 1/4th of the overall RFID market. The market is primarily dependent on retail, manufacturing and transportation & logistics sectors contributing to nearly 80% of the total market value worldwide. Consistent growth across the retail and transportation & logistics sectors, especially in Asia Pacific, is set to ensure promising market growth over the forecast period.
Handheld RFID Readers to Continue Dominance throughout the Forecast Period
Handheld RFID readers segment, contributing to over 2/3rd of the total market value generated worldwide, leads the RFID readers market. Handheld RFID readers are prominently used in retail, warehouses, transportation and various other industrial sectors. In addition, healthcare too is among the most promising end-users of RFID technology, thereby supporting the demand for handheld RFID readers. These readers are cheaper and offer immense convenience as compared to their fixed counterparts. Due to low cost of these readers, end-users prefer installing more number of handheld readers rather than installing single, high cost fixed reader. As a result, the segment would continue its dominance in the market throughout the forecast period.
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Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.4.1 Phase I – Secondary Research
1.4.2 Phase II – Primary Research
1.4.3 Phase III – Expert Panel Review
1.4.5 Approach Adopted
Chapter 2 Executive Summary
2.1 Market Snapshot: Global RFID Readers Market
2.2 Global RFID Readers Market, By Product Type, 2017 (US$ Mn)
2.3 Global RFID Readers Market, By Frequency, 2017 (US$ Mn)
2.4 Global RFID Readers Market, By Industry Vertical, 2017 (US$ Mn)
2.5 Global RFID Readers Market, By Geography, 2017 (US$ Mn)
Chapter 3 Market Dynamics
3.1.1 Global RFID Readers Market Value, 2016 – 2026, (US$ Mn)
3.2 Market Drivers
3.3 Market Growth Inhibitors
3.3.1 Impact Analysis of Drivers and Restraints
3.4 Key Market Trends
3.5 Attractive Investment Proposition, by Geography, 2017
3.6 Competitive Analysis …
Chapter 11 Company Profiles
11.1 Zebra Technologies Corporation
11.2 Impinj, Inc.
11.3 Alien Technology Corporation
11.4 Invengo Technology Pte. Ltd.
11.5 Xerox Corporation
11.6 Honeywell Safety and Productivity Solutions
11.7 GAO RFID, Inc.
11.8 Datalogic S.p.A.
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