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RFID readers are used to gather information from RFID tags that are attached to various objects or products containing detailed information about the products. High sensing RFID tags and other solutions which can operate from long distance and even in the harsh environment is one of the major factor that is driving the growth of the RFID reader market. RFID manufacturing companies faced a significant downfall during covid-19 due to lockdowns and shut down of industries for large period of time and travel bans restricted the supply leading to shortage of raw material and production. Moreover, decrease in demand for expensive retail and commercial products across the world due various lockdown events, also impacted the RFID readers market. Furthermore, the supply chain and transportation channels were also disrupted that slowed down the growth for RFID readers market. In developing countries such as China, India and other countries, where RFID tags are widely used in vehicles for tolling, but due to COVID-19 crisis, the demand witness a downfall. However, governments of various countries are allowing the movement of public and goods, which will reinstate the demand for RFID market in healthcare, logistics, retail, and supply chain, among others.
In addition, the demand for RFID readers market has increased in medical and healthcare applications during the onset of COVID-19 pandemic for medical information storage, patient tracking, and patient data validation. Apart from this, the demand for RFID solutions is also expected to rise due to the deployment of various RFID systems in different manufacturing companies to increase the productivity and to automate the manufacturing processes.
There are different RFID readers available in the market such as handheld RFID readers and fixed RFID readers, among these, handheld RFID readers have maximum share in the market and is widely used in numerous applications. Moreover, the RFID readers provide its application in various end-use industries such as apparel & retail, transportation & logistics, industrial manufacturing and automotive, among others. Whereas, the demand for RFID readers is rising in retail, and inventory solutions for tracking and identifying the products therefore, driving the growth of the market.
Some key players in the global RFID readers market are Honeywell International Inc., Impinj, Inc., Zebra Technologies Corporation, Invengo Technology Pte. Ltd., Technology Solutions (UK) Ltd., Alien Technology, LLC., GAO RFID, Inc., CipherLab Co., Ltd., Datalogic S.p.A. and Xerox Corporation.
Trends and Future Outlook:
- Rising installation of RFID systems in different manufacturing businesses for improving the productivity due to COVID-19 pandemic.
- Increasing need of efficient supply chain solutions for inventory management and rising demand of RFID systems in healthcare sector.
- High adoption of RFID technology in different end-use industries.