RFID Printer Market Outlook - 2030
A printer that prints RFID smart labels is known as an RFID printer. Radio frequency technology is used to transfer information through user systems on these labels. By incorporating RFID labels into several print formats, these printers offer unique digital functionality to images. In many circumstances, RFID printers combine RFID technology with barcodes so that the results can be read by either an RFID reader or a barcode scanner while going through a shipping or manufacturing process.
Warehouses and stores can employ RFID printers as an inventory management system, with the RFID chip containing information on the contents of wholesale packages or setting off an alarm if a shoplifter tries to sneak it past a scanner at the exit. Basic shipping information can be printed on the label itself, and more detailed information such as handling instructions, shipping history, or other information can be saved on the chip.
The global RFID printer market is segmented on the basis of type, industry vertical and region. Based on type, the market is divided into desktop RFID printers, industrial RFID printers, mobile RFID printers. In terms of industry vertical, the market is categorized into retail & consumer goods, manufacturing, healthcare, transportation & logistics, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
Key players operating in the global RFID printer industry include Printronix, Primera Technology, Avery Dennison, Zebra technologies, Honeywell, SATO Holding Corporation, Toshiba, Dascom, BIXOLON, and Avery Dennison. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global RFID printer market.
COVID-19 Scenario Analysis
The worldwide quarantine imposed in response to the COVID-19 outbreak has resulted in an economic catastrophe that has thrown practically every business into disarray. The epidemic is wreaking havoc on a variety of industries, and the RFID printer industry is no exception. Following the SARS-CoV-2 outbreak, businesses were forced to make difficult financial and cost-cutting decisions to ensure the continued flow of goods.
The lockdown was the result of the new coronavirus's short-term influence on the manufacturing industry around the world, which resulted in a drop in semiconductor demand. The weak demand has had a domino effect throughout the semiconductor sector with the price decline. The COVID-19 outbreak and subsequent lockdown have resulted in the closure of activities, as well as e-commerce and retail stores, putting supply chains at risk and widening the gap between demand and supply.
In response of COVID-19's long-term implications, governments are attempting to address the problem by enacting beneficial initiatives and policies such as financial packages, lower interest rates, and tax exemptions. The RFID printer market size is expected to rebound to a great level during the forecast period despite the world's efforts to find a COVID-19 breakthrough.
Top Impacting Factors
Key RFID technology manufacturers are generating low-cost tags in response to end-user demand, offering a considerable boost to the market. These are some of the aspects that are predicted to drive the RFID printer market forward in the near future. Furthermore, the market for RFID printers is expected to rise rapidly, with the development of RFID laser printing technology. Moreover, prominent manufacturers are primarily focused on providing less priced items that can be improved with the use of RFID printers. Furthermore, the rapidly increasing speeds at which printers operate are expected to boost the growth of the global RFID industry. As a result of the faster speeds, the RFID printer's maintenance and operational costs are reduced, extending the product's lifespan.
The primary hurdle for the RFID printer industry is the high cost of these printers, which is related to the need of specialized ink to print smart labels. Printing tags for a large number of products can be pricey because the inks used in RFID printers are extremely expensive, resulting in a rise in operation costs.
Rapid Growth in Use of RFID Printer in Retail Sector
Retailers can use RFID labels or tags to manage their retail printing needs. RFID printers are designed to handle printing activities at the front and back of stores, as well as responding to the needs of online/e-commerce retail applications. Retailers employ labels or tags to improve operational efficiency and customer happiness by ensuring timely product delivery and better asset management in stores. RFID printers are used in the retail environment to identify products and label them with price tags, as well as to print shelf tags, inventory merchandise, and receipts, as well as to create promotional and store branding materials, print on-demand labels for shipping applications, and print promotional coupons and forms for marketing.
Increase in Demand of Mobile Printer
Mobile RFID printers are in high demand globally, as they are utilized to print labels, tickets, and receipts in the hospitality, retail, and healthcare industries. Mobile printers are also used to print barcodes and RFID labels and tags in a variety of sectors. They offer features that make RFID labels, tags, and receipts simple to use. Durability, robustness, and ruggedness are among these features, as are ease of use, ease of connection with mobile devices, and a variety of connectivity options, including USB, Bluetooth, and wireless LAN.
Key Benefits of the Report
- This study presents the analytical depiction of the global RFID printer industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the RFID printer market share.
- The current market is quantitatively analyzed to highlight the RFID printer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed RFID printer market analysis based on competitive intensity and how the competition will take shape in coming years.
- The report contains RFID printer market forecast considering 2020 as a base year.
- The report presents information on the RFID printer market opportunities to track potential regions and country.
- The RFID printer market outlooks the future scope and estimates the percentage growth.
Questions Answered in the RFID Printer Market Research Report
- What are the leading market players active in the RFID printer market trends?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
RFID Printer Market Report Highlights
By Price Range
By Printing Technology
By Industry Vertical
Key Market Players
Dascom, Toshiba Corp., Honeywell International Inc, Printronix Auto ID, Zebra Technologies Corporation, Avery Dennison Corporation, Seiko Epson Corporation, ID Technology LLC, Sato Holdings Corporation