RFID Reader Market Worth to Outgrow by USD 18944.3 MN By 2027
Posted On February 25, 2021
According to the research report by Value Market Research, the Global RFID Reader Market is likely to grow to USD 18944.3 MN by 2027 with a CAGR of 9.75% during the year 2020-2027. An RFID reader uses electromagnetic radiation to automatically identify and track tags or smart labels attached to objects. The high demand for improved inventory or asset tracking with faster data collection will be the main drivers for the market's growth. The incredible benefits offered by this technology in the sectors of aerospace, logistics, sports, healthcare, passports, e-commerce, transportation, and telemetry will provide the impetus for market growth. The rapid increase in the use of these devices in retailing due to the mandates issued by government agencies to make products traceable will benefit the development of the market. The need for tags operational within all the international frequency domains and the increased possibility of illicit tracking of RFID tags are the primary concerns of this market.
An RFID reader is a device that works on the principle of radio frequency identification. This device uses an automated data capture technology to wirelessly transfer data between itself and an RFID tag/label. When used together with the right software, an RFID reader can identify, categorize, and track assets quickly, accurately, and at a reduced overall cost at various points of the asset's life cycle. RFID systems have been an emerging solution in warehousing, distribution center, and retailing for efficient asset management and item-level tagging. RFID Reader can have many capabilities like a laser, imager, handheld, fixed, Bluetooth, USB, UHF, HF, iOS/Android compatibility, etc. The efficiency of this device is dependent on the antenna size, environmental factors, line-of-sight, and type of tags.
"Global RFID Reader Market Report By Product Type (Handheld RFID Reader, Fixed RFID Reader), By Frequency Band (Low Frequency, High Frequency, Ultra-High Frequency), By Industry Vertical (Transportation &Logistics, Healthcare, Hospitality, Food & Beverage, Retail, Manufacturing, Government) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2027" is an elaborate report providing market data on the basis of segments and geography.
On the basis of product type the market is segmented into Handheld RFID Reader, Fixed RFID Reader. By frequency Band the RFID reader market is categorised as Low Frequency, High Frequency, Ultra-High Frequency. By industry vertical the RFID reader market is categorised as Transportation & Logistics, Healthcare, Hospitality, Food & Beverage, Retail, Manufacturing, Government. By geography the report is bifurcated into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. RFID reader is the dominating region. The data tables in this section depict the market estimate by market segment.
The Report Segments Global RFID Reader Market -
By Product Type
- Handheld RFID Reader
- Fixed RFID Reader
By Frequency Band
- Low Frequency
- High Frequency
- Ultra-High Frequency
By Industry Vertical
- Transportation &Logistics
- Food & Beverage
- North America
- the Asia Pacific
- Latin America
- The Middle East and Africa
Players Profiled In the Report:
Honeywell, Datalogic, and Zebra are the leading players currently dominate the market. Other key players operating in the global RFID reader market are Avery Dennison Corporation, CAEN RFID S.r.l., Impinj, Inc., Invengo Technology Pte. Ltd., Alien Technology, Applied Wireless Identifications Group, Inc, Motorola Solutions, Inc., and Unitech Electronics Co., Ltd.
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