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.
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
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.
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.
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.
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.