Radio Frequency Identification (RFID) Readers Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027) is the title of a recent research report from Future Market Insights (FMI). According to the survey, supply chain complexity and the spread of advanced technology are driving use of RFID technology among customers. As a result, companies selling RFID readers are constantly updating their product lines to satisfy the wants of customers all over the world.
For instance, in April 2016, Zebra unveiled the RFD8500, a multi-operating system. This new device was developed to provide high-performance RFID and 1D/2D barcode scanning for mobile smartphones running Android and iOS. The addition of improved data gathering capabilities as well as communication with other host devices for data recording and reading is anticipated to benefit from the use of this RFID reader. In addition, Zebra introduced Zebra SmartSense RFID in January 2017 for use in the retail industry to recognise and track the whereabouts of personnel, inventory, and clients in real-time. Some of the well-known firms in the global RFID reader market include Invengo Information Technology Co. Ltd., GAO RFID Inc., Impinj, Alien Technology, Xerox Corporation, Honeywell, and Datalogic.
According to the report, the global RFID readers market is expected to witness a significant CAGR of 12.3% from 2017 to 2027. The market was worth US$ 5545.5 Mn in 2017 and is expected to rise to a valuation of US$ 17,758.8 Mn by the end of the forecast period.
Request a Sample of this Report @
Retail Sector to Intensify its Deployment of RFID Technology
The retail industry’s growing need for effective supply chain management is driving greater demand for RFID technology. Companies install RFID tags and readers as part of their security measures to reduce the risk of theft and loss. In order to increase the effectiveness of inventory allocation, businesses are ramping up the deployment of automated item identification systems for supply chain management. During the projected period, the market for RFID readers is anticipated to experience revenue development due to the expanding requirement for effective supply chain management. Up to 2 KB of detailed data on the thing it is attached to is stored by RFIDs. When a consumer approaches the counter, the prices and details of the goods with RFID tags are automatically recorded without having to be scanned individually every product, which saves time of the customer. Furthermore, it permits cost tally in one scan, which saves time of the user as well as the product retailer.
Breech and Data Insecurity to Hinder Market Growth in the Long Run
RFID readers and tags do not have a locking system or for that matter, a secure password. As a result, the risk of information breach increases. The dearth of security systems is a restraining factor in the growth of the RFID readers market. Several companies in the healthcare and other industries avoid using these systems for asset tracking as there is a chance of information breach related to the usage of medicine.
With this factor restraining the growth of the market, it is yet to be seen where the global RFID readers market will stand in the next 10 years.
Ask An Analyst @
- Fixed RFID Readers
- Integrated RFID Readers
- Non-Integrated RFID Readers
- Handheld RFID Readers
- Low Frequency (125 kHz, 134.2 kHz)
- High Frequency (13.56 MHz)
- Ultra High Frequency (865- 928 MHz)
- Others (Bluetooth)
- Logistics and
- Aerospace and
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific