Global RFID Reader Market Overview
The global RFID reader market size was valued at USD 9000 million in 2019, and is projected to reach USD 22,500 million by 2026, registering a CAGR of 9.75% from 2020 to 2026. Growing complexity in the supply chain and rising trend towards automation drive the growth of the market. Increasing penetration across different applications is expected to provide numerous opportunities for the RFID reader market. Radiofrequency identification (RFID) has recently experienced unprecedented development due to the growing complexity of businesses. The RFID reader has been widely applied in blood station management, supermarket, and logistics. RFID streamlines applications like tracking, monitoring, locating objects while maintaining safety and security. However, the high cost of RFID readers and tags collision issues hampers the growth of the market. One of the principal existing issues in Radio Frequency Identification (RFID) technology is the tag crash issue. These issues negatively impact the growth of the market.
The report studies few key players of the global RFID reader market in detail covering the company profile, product list and financial details. The companies included in the report are 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.
In this market research report, the market is segmented into product type, frequency band, industry vertical, and region.
Analysis, by Product Type
Handheld RFID reader held the majority share in the global RFID reader market. Handheld RFID readers are widely adopted due to its benefits like easy transportability, no physical installation requirement, quick deployment, and ease of use. Handheld readers have vital functionalities that make data collection and transfer even easier by translating the RFID tag codes without the need for RFID middleware, which is required in the case of fixed RFID readers.
Analysis, by Frequency Band
In 2019, ultra-high frequency dominated the global RFID reader market and will continue its dominance over the forecast period. Ultra-high frequency (UHF) RFID passive tags are widely used over low frequency and high-frequency RFID due to low cost. New applications for UHF are being discovered frequently due to long read range and low cost.
Analysis, by Industry Vertical
In the retail industry, RFID readers have a wide area of application. RFID readers help retail businesses track inventory and equipment, robust security, and reading from a greater distance. RFID usage in retailing has taken a lot of attention recently; the retail industry is one of the most aggressive RFID technology supporters. RFID can track inventory more precisely in real-time resulting in reduced processing time and workforce. Transportation & logistics are other significant contributors to the market.
Analysis, by Region
North America dominated the consumption of the RFID reader market in terms of revenue in 2019. Mandates from large retailers like Wal-Mart, Target, Albertson, etc. and government agencies in the US have increased RFID awareness. Asia Pacific is projected to grow at the highest CAGR during the forecast period. This is attributed to the growing adoption of technologies across businesses to earn optimum outcomes. China dominated the production of RFID readers, with over 50% share in total production in 2019.
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
By Region
- North America
- Europe
- the Asia Pacific
- Latin America
- The Middle East and Africa
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.