According to a new market research report published by Credence Research “Radio Frequency Identification (RFID) Readers Market (Product Type – Handheld RFID Readers and Fixed RFID Readers; Frequency – Low Frequency (125 kHz – 134 kHz), High Frequency (13.56 MHz) and Ultra-high Frequency (860 MHz to 960 MHz); Industry Verticals – Apparel & Retail, Pharmaceuticals & Healthcare, Transportation & Logistics, Industrial Manufacturing, Automotive and Others (Agriculture, Oil & Gas, Government etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global RFID readers market was valued at US$ 2,755.3 Mn in 2017 and is set to demonstrate double digit growth during the forecast period from 2018 to 2026.
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RFID technology has emerged among the most promising technologies in asset tracking and personnel identification. The technology eliminates erroneous and tedious manual asset tracking, thereby enhancing productivity. Additionally, RFID technology offers numerous benefits over barcode scanning. This makes the technology highly suitable for applications including retail, transportation & logistics, industrial manufacturing and several others.
The most prominent factor driving the RFID readers market is the consistently growing retail sector worldwide. Led primarily by Asia Pacific, number of shopping centers continues to grow globally. Considering the wide application of RFID technology, rising retail sector would ensure strong RFID readers market growth during the forecast period.
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Further, rapidly growing e-commerce sector across the world further create need for effective asset tracking from warehouses. Subsequently, RFID readers market is set to register strong growth rate during the forecast period. Apart from retail, RFID sector is expected to witness increased demand from healthcare sector. North America and Europe are leading the adoption of RFID technology in healthcare sector.
RFID readers market is segmented based on product type, frequency, industry vertical and geography. Based on product type, the handheld RFID readers segment led the global market with a value share of over 60% in 2017. Retail and transportation & logistics are the largest end-users of RFID readers. Due to high preference of handheld readers across these applications, the segment would continue dominating the market.
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The segment growth is also backed by the low cost and ease of use offered by handheld readers as compared to their fixed counterparts. Further, based on the geography, Asia Pacific led the overall RFID readers market in 2017 with nearly 40% market share. Steadily growing retail sector in the region along with increasing penetration of industrial sector is the major factor supporting the regional market growth.
The overall RFID readers market is quite fragmented in nature with presence of numerous regional as well as international players in the market. Market players emphasize on product enhancement in order to provide RFID solutions for multiple applications. With growing inclination towards RAIN RFID, companies are now shifting towards manufacturing RAIN RFID readers with added features. For instance, in January 2018, Alien Technology introduced a new RFID reader with all-day battery life. The new RFID reader is designed to operate on iOS and Android operating systems.
Some of the major RFID reader players profiled in the report include Zebra Technologies Corporation, Alien Technology Corporation, Impinj, Inc., Xerox Corporation, Invengo Technology Pte. Ltd., Honeywell Safety and Productivity Solutions, Datalogic S.p.A., GAO RFID, Inc., ThinkMagic (Trimble), CipherLab Co., Ltd., Technology Solutions UK Ltd. (TSL) and others.
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