In addition, rising capabilities of reading data form long distance and increasing high security requirement in different applications is driving the growth of global RFID readers market. Moreover, utilization of RFID readers in different end-user industries such as apparel & retail, transportation & logistics, industrial manufacturing and automotive, etc., in which apparel & retail sector is expected to have largest market share. Also, rising adoption of RFID sensors in retail sector, manufacturing industry, security, and location tracking is also anticipated to drive the RFID readers market in the coming years. Apart from this, RFID solutions are also used by various businesses for tracking the inventory, robust security and in inventory management, which will drive the growth of the market in the forecast period.
The RFID readers market is split into wide number of RFID solutions manufacturers who provides ultrahigh frequency RFID products across the world. Major 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.
|Report Parameters||Details of Parameter|
|Considered year for estimation||2021|
|Historical data||2015 – 2020|
|Forecast period covered||2021 – 2028|
|Segments covered||Product Types, Applications, End-Users, Regions, Top Companies and more.|
|Top companies||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.|
|Product type||Handheld RFID Readers, Fixed RFID Readers|
|By End-use||Apparel & Retail, Transportation & Logistics, Industrial Manufacturing, Automotive, Others|
|Region covered||North America, Europe, Asia Pacific, Latin America, Middle East, Africa and more|
Global RFID Readers Market, By Product Type
Based on product type, RFID readers market is segmented into the following:
- Handheld RFID Readers
- Fixed RFID Readers
In 2020, the handheld RFID readers segment led the overall RFID readers market in terms of valuation accounting for over 68% of the global market. The handheld RFID readers are used in different sectors such as warehouses, offline stores, retail sectors, transportation and other industrial segments. Moreover, pharmaceutical and healthcare industry is also using RFID technology to great extent and hence may show prominent growth in the RFID readers market during the forecast period. The RFID readers are cost-effective and due to the low cost of handheld RFID readers, its installation is being more prevalent among people instead of fixed RFID readers which are higher in cost. Moreover, handheld RFID readers are widely used in inventory management solution, as it helps to track the product’s detailed information. In addition, the RFID tags are widely used in various applications such as vehicle tagging, asset tracking, and manufacturing equipment, among others.
Global RFID Readers Market, By End-use Industry
Based on end-use industry, the RFID readers market is segmented into the following:
- Apparel & Retail
- Transportation & Logistics
- Industrial Manufacturing
In 2020, the apparel & retail segment led the overall RFID readers market in terms of market value. Focus on investment is being done by RFID providers to develop various cost effective RFID solutions which can provide high returns and feasible solutions for different applications. The high frequency RFID tags and readers are widely used among different end-use industry due to its faster detection feature, standardized technology, long detection range, wide application area and large memory storage. Apart from this, the rising demand from several merchandise and retail outlets for RFID tags and its readers for apparels, which ensures the effective inventory management solution. Moreover, UHF (ultra-high frequency) RFID readers support multiple tags reading at a single time and can be utilized in different applications, mainly in retail and hence is expected to have high demand as compared to others. Therefore, UHF segment is expected to show high growth in the forecast period.
Global RFID Readers Market, By Geography
Based on geography, the RFID readers market is segmented into following:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
In 2020, Asia Pacific held the largest share in the RFID readers market owing to rising retail and industrial sector in the region and high adoption of IT systems and RFID technology across the Asia Pacific region. Apart from this, there is a rise in manufacturing capacity across different industrial sector which also aims to increase the demand for RFID readers. Rising government programs in various developing countries such as China, Japan, India and other countries in Asia Pacific for different personnel identification and security is helping in prevailing the adoption of RFID readers. Moreover, RFID readers are also used in other applications such as pharmaceutical and healthcare industries, and inventory management systems, among others. North America and Europe are also expected to show largest share in the RFID readers market in terms of market value.