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RFID Reader Market (Product Type - Handheld RFID Reader, and Fixed RFID Reader; Frequency Band - Low Frequency, High Frequency, and Ultra-high Frequency; Industry Vertical - Transportation & logistics, Healthcare, Hospitality, Food & Beverage, Retail, Manufacturing, and Government): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : ICT1449

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the RFID reader market provides an in-depth analysis of segments and sub-segments in the global as well as regional RFID reader market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional RFID reader market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global RFID reader market. According to the report, the global RFID reader market is projected to grow at a healthy CAGR over the forecast period of 2020-2026.

 

Market Insight

The Radio Frequency Identification i.e. RFID technology assimilates electromagnetic fields in the radio frequency portion of the electromagnetic spectrum to recognize a person, object, animal, or device. An RFID system has been developed on this technology, and the system involves three components comprising RFID reader, RFID tags, and RFID software, and middleware. An RFID reader is a device that is utilized to interrogate an RFID tag. The reader’s antenna releases radio waves to communicate with radio tags that store particular information about the object or item. This information delivers identification for an item, proof of ownership, original storage location, and history.

 

The RFID readers have an extensive area of application in retail, aerospace, security authentication, and transportation. The major foremost factors that drive the global RFID market include helping businesses to track inventory and equipment, vigorous security, and reading from a greater distance. Furthermore, the increasing demand for RFID systems in healthcare and transport segments and the growing need for efficient supply chain management is pouring the acceptance of the RFID system in the market. On the other hand, high manufacturing and maintenance costs of RFID readers and tags collisions act as a major barricade, which restrains the market growth during the forecast period. However, upsurge in penetration of the RFID sensor in different applications is projected to provide several opportunities for the RFID reader market expansion.

 

Additionally, the current concern over the spread of novel coronavirus is also expected to have a negative impact on the sales of RFID readers for the short term. The on-going COVID-19 outbreak has unpleasantly affected the electronic industry with manufacturing operations provisionally suspended across major manufacturing hubs, leading to an extensive slowdown in the production. In addition to having an impact on the production, the on-going endemic has taken a toll on the user demand for RFID reader, likely worsened by the lockdown enforced across major nations. Insignificance regarding the possible length of lockdown makes it challenging to expect how and when recovery in the electronic industry will occur.

 

Among the geographies, North America region is expected to hold the largest share in the global RFID reader market as countries such as the U.S. and Canada are the front-runners of the adoption of new technology. Further, factors such as the high adoption of automated item identification systems in this region for supply chain management, which can help to increase the inventory allocation efficiencies. However, the Asia Pacific the region is anticipated to grow at the highest CAGR over the projection period, due to the presence of the largest manufacturers and original equipment manufacturers (OEMs) in this region and an increase in demand for tracking, monitoring, and locating objects for safety, security, and resource optimization.


Segment Covered

The report on the global RFID reader market covers segments such as product type, frequency band, and industry vertical. On the basis of product type, the sub-markets include a handheld RFID reader, and fixed RFID reader. On the basis of frequency band, the sub-markets include low frequency, high frequency, and ultra-high frequency. On the basis of industry vertical, the sub-markets include transportation & logistics, healthcare, hospitality, food & beverage, retail, manufacturing, and government.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Alien Technology, Applied Wireless Identifications Group, Inc, Avery Dennison Corporation, CAEN RFID S.r.l., Honeywell International Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Motorola Solutions, Inc., Zebra Technologies Corp., and Unitech Electronics Co., Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the RFID reader market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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