The global RFID readers market is forecasted to register a CAGR of 8.78% over the estimated years of 2021 to 2028. The market growth is facilitated by key factors including, the performance of the retail sector, the complexities associated with the supply chain, the advantages of RFID over other related technology across challenging scenarios, and the benefits of RFID in the healthcare industry.
RFID (Radio Frequency Identification) is a wireless technology that uses radio waves to connect things, individuals, or devices. Moreover, the data can also be shared over the cloud (internet). The RFID system entails RFID tags, readers, and software with tags constituting the information written and read using RFID readers. RFID readers are devices operating as radio frequency transmitters and receivers of information from RFID tags. The readers can either be handheld or fixed devices.
Retail refers to the sale of services and goods to consumers. Transactions are undertaken through several channels of distribution across an ever-growing range of sectors, including food, apparel, motor vehicles, as well as electronics. While in-store or physical retail is the dominant channel, other distinct forms of non-store retailing are gaining popularity, as well. Online retailing or e-commerce channels carve a share of the retail sector within multiple global markets. Furthermore, retailers also run an omnichannel model, aiming to incorporate offline and online channels seamlessly.
The global RFID readers market growth assessment includes the analysis of North America, Europe, the Asia-Pacific, and the Rest of World. North America is anticipated to dominate the global market by 2028, owing to the developing retail division and the increasing adoption of automation. However, the regional market may face restraints on account of security challenges.
The rising demand for Ultra-High Frequency (UHF) RFID, in addition to the growth of e-commerce, is set to intensify the rivalry within the global RFID readers market. Some of the key companies operating in the global market include Zebra Technologies Corp, Invengo Technology Pte Ltd, CAEN RFID, Alien Technology, etc.
Our report offerings include:
- Explore key findings of the overall market
- Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
- Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
- Market Segmentation cater to a thorough assessment of key segments with their market estimations
- Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
- Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
- Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
- Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments