What is RFID Readers?
Radio Frequency Identification (RFID) technology emits radio frequency rays in portion of the electromagnetic spectrum that will identify an object, animal, device or person. RFID has applications in various sectors such as manufacturing, logistics, healthcare, and retail, among others. Deployment and management of data records in RFID tags becomes difficult than its integration in cloud based RFID as it aids in providing centralised management without increasing deployment cost. Hence RFID readers for cloud based networks will have a huge demand in forthcoming years. RFID reader is a device that is used to interrogate i.e. to identify an RFID tag. RFID reader antenna emits radio waves that communicate with radio tags which has stored specific information previously about an object or an item. This information helps in identification for an item, original storage location & history and proof of ownership.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Impinj (United States), NXP Semiconductors (Netherlands), Alien Technology (United States), Avery Dennison (United States), Smatrac (Netherlands), Invengo (Singapore), Checkpoint Systems (United States), Mojix (United States), GAO RFID (United States), Nedap (Netherlands), Zebra Technologies (United States), GlobeRanger (United States), HID Global (United States), Applied Wireless (United States), CAEN RFID (Italy), Honeywell (United States), Thing Magic (United States), Identiv (United States) and SAG (United States) |
CAGR | 4.0% |
The study covers a detailed analysis segmented by key business segments i.e. by type (Low Frequency, High Frequency, Ultra-high Frequency and Active Ultra-High Frequency) , by application (Commercial sector, Transportation sector, Healthcare sector, Retail sector, Sports sector and Others) and major geographies. Research Analyst at AMA predicts that United States Manufacturers will contribute to the maximum growth of Global RFID Readers market throughout the predicted period.
The competition is expected to become even more intense in the years to come due to the entry of several new players in the market. To help clients improve their revenue shares in the market, this research study provides an in-depth analysis of the markets competitive landscape and offers information on the products offered by various leading companies. Additionally, this RFID Readers market report suggests strategies that Manufacturers can follow and highlights key areas they should focus on, in order to take maximum benefits of growth opportunities.
The report offers several leading Manufacturers, some of them are Impinj (United States), NXP Semiconductors (Netherlands), Alien Technology (United States), Avery Dennison (United States), Smatrac (Netherlands), Invengo (Singapore), Checkpoint Systems (United States), Mojix (United States), GAO RFID (United States), Nedap (Netherlands), Zebra Technologies (United States), GlobeRanger (United States), HID Global (United States), Applied Wireless (United States), CAEN RFID (Italy), Honeywell (United States), Thing Magic (United States), Identiv (United States) and SAG (United States).
Market Overview:
In February 2021 HID Global, a worldwide leader in trusted identity solutions, announced that it has acquired Technology Solutions (TSL) UK Ltd, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedized mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets.
The market players are adopting many strategies so as to attract the audience and to gain highest market share, these strategies can be listed as maintaining product uniqueness, offering attractive discounts, mergers with related organizations, alliances with different companies to increase sales area globally and others.
Influencing Trend:
Favorable Government Initiatives and High acceptance in retail sector
Market Growth Drivers:
Growing RFID installation in various sectors to increase productivity and Increasing adoption of Security & Access Control Application
Challenges:
The major challenge is the price and return on investment in the implementation of RFID technology
Restraints:
High Installation Costs and Lack of Awareness
Opportunities:
growing attraction for RFID Tag with advanced sensors, Increasing demand from public transportation Sector and IoT Based RFID Labeling are gaining market attention
Key highlights of the Global RFID Readers market Study:
CAGR of the market during the forecast period 2023-2030
In-depth information on growth factors that will accelerate the RFID Readers market in next few years.
Detailed Insights on futuristic trends and changing consumer behavior
Forecast of the Global RFID Readers market size and its contribution to the parent market by type, application and by country.
A broad view of customer demand
Uncover markets competitive landscape and in-depth information on various Manufacturers
Comprehensive information about factors that will challenge the growth of RFID Readers Manufacturers
Transformation and Important Triggers:
Business transformation has taken hold across the broad corporate landscape due to the confluence of several important triggers, including:
A tipping point in globalization
A major slowdown in Western economies
Significant shifts in technology and cost structure
The challenges of regulatory compliance
New forms of competition developing
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global RFID Readers market.
In order to reach an exhaustive list of functional and relevant players, various industry classification standards are closely followed such as NAICS, ICB, and SIC to penetrate deep into important geographies by players, and a thorough validation test is conducted to reach the most relevant players for survey in RFID Readers market.
In order to make a priority list sorting is done based on revenue generated based on the latest reporting, using paid databases such as Factiva, Bloomberg, etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment> by targeting key target audience that includes Government bodies, venture capitalists & private equity firms, Manufacturers of sub component, Research institutes and organizations, Software designers and manufacturers, System integrator and End-user industries.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth, etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that include Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases, etc.