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2020
Rfid Reader Market

RFID Reader Market

by Product Type (Handheld RFID Reader and Fixed RFID Reader), Frequency Band (Low Frequency, High Frequency, and Ultra-High Frequency), and Industry Vertical (Transportation & Logistics, Healthcare, Hospitality, Food & Beverage, Retail, Manufacturing, and Government): Global Opportunity Analysis and Industry Forecast, 2019-2026

Report Code: A06045
Pages: 257
Mar 2020 | 7567 Views
Author(s) : Avinash S , Vineet K
Tables: 106
Charts: 63
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RFID Reader Market Outlook - 2026

The global RFID reader market size was valued at $8.87 billion in 2018, and is projected to reach $22.46 billion by 2026, registering a CAGR of 9.8% from 2020 to 2026. The RFID reader is a device used to gather information from an RFID tag, which is used to track an individual object. The radio-frequency waves are used to transfer data from the RFID tag to the reader. Most of the RFIDs are generally used to store information, which is used when interpreted through user. RFID is a technology similar to bar codes. However, the RFID tag does not have to be scanned directly, nor does it require line-of-sight to a reader. The RFID tags must be within the range of an RFID reader, that is 3 to 300 feet. The RFID reader contains RF module, which acts as transmitter and receiver of radio frequency signals.

The RFID readers have a wide area of application in retail, security authentication, aerospace, and transportation. The major factors that drive the global RFID market include helping businesses to track inventory and equipment, robust security and reading from greater distance. However, high RFID cost and tags collision restrains the RFID reader market. Moreover, rise in penetration of the RFID sensor in different applications are expected to provide numerous opportunities for the RFID reader market expansion.

RFID Reader Market

Moreover, RFID reader used attached antenna to capture data from tags and passes that data to a computer for processing. RFID readers can be affixed in a stationary position in a store, factory, and integrated into a mobile device such as a portable, handheld scanner. In addition, this reader can be embedded in electronic equipment or devices, and in vehicles.

Developing nations in Asia-Pacific such as China, India Japan, and Australia are contributing the major RFID reader market share globally. High growth in the Asia-Pacific can be attributed to rise in demand for the RFID technology from the fast-developing countries such as China and India. Presence of largest manufacturers and OEMs in Asia-Pacific and surge in demand for tracking, monitoring, locating objects and security, safety, and resource optimization are the key factors that drives the growth of the RFID reader market during the forecast period. China is the stage of RFID exploration with technical breakthroughs, lower tag costs, as well as the advancement of smart IoT industry. In addition, China has world’s largest production base, representing over 70% of the world’s total RFID technology share.

RFID Reader Market
By Product Type

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Fixed RFID Readers would exhibit the highest CAGR of 22.6% during 2019-2026.

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The factors such as efficiency in helping business to track inventory and equipment, due to usage of optically based system such as barcode, which fails to provide unique solutions to logistical tracking of inventory or equipment along with read/write capabilities. In addition, robust security requirement, and capability of reading info from greater distance drive the growth of the RFID reader market size globally. However, high manufacturing and maintenance cost of RFID readers and tags collisions act as a major barrier, which hampers the market growth to a certain extent. Furthermore, increase in penetration of RFID sensors in various applications, owing to usage of various RFID tag in different application such as manufacturing & management, security, retail, and location tracking, which offers lucrative opportunities to the RFID reader industry globally.

Segmentation

The market is segmented on the basis of product type, frequency band, industry verticals, and region. Based on product type, it is categorized into handheld RFID readers and fixed RFID readers. Based on frequency band, it is bifurcated into low frequency, high frequency, and ultra-high frequency. The industry verticals segment is divided into transportation & logistics, healthcare, hospitality, food & beverages, retail, manufacturing, and government. Based on region, the RFID reader market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. 

North America dominated the RFID reader market in terms of revenue in 2018, due to high adoption of automated item identification systems in this region for supply chain management, which can help to improve the inventory allocation efficiencies. Whereas Asia-Pacific is expected to grow at the highest CAGR during the forecast period, owing to presence of largest manufacturers and original equipment manufacturers (OEMs) in this region and surge in demand for tracking, monitoring, and locating objects for security, safety, and resource optimization.

RFID Reader Market
By Frequency

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High Frequency (13.56 MHz) would exhibit the highest CAGR of 14.7% during 2019-2026.

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Top Impacting Factors

The factors such as efficiency in helping business to track inventory and equipment, robust security requirement, capability of reading info from greater distance, high manufacturing and maintenance cost of RFID readers, tags collisions, and increase in penetration of RFID sensors in various applications are expected to significantly affect the growth of the global RFID reader market. These factors are anticipated to impact the RFID reader market growth during the forecast period.

RFID Reader Market
By Industry Vertical

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Government would exhibit the highest CAGR of 17.5% during 2019-2026.

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Competitive Analysis

The key players operating in the global RFID reader market are Alien Technology, Applied Wireless Identifications Group, Inc., Avery Dennison Corporation, CAEN RFID S.r.l., Honeywell International Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Motorola Solutions, Inc., Zebra Technologies Corp., and Unitech Electronics Co., LTD. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations to enhance their market penetration. For instance, Avery Dennison launched new UHF RFID solutions and intelligent labels. These UHF RFID labels are applied to metal or foil packaging and liquid goods that provide long-needed solutions to low stock visibility, consumer counterfeit vulnerability, and out-of-stock SKUs in the color cosmetics sector. 

RFID Reader Market
By Region

2026
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific would exhibit the highest CAGR of 15.1% during 2019-2026.

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Key Benefits for Stakeholders:

  • This study comprises analytical depiction of the global RFID reader market size along with the current trends and future estimations to depict the imminent investment pockets.
  • The overall RFID reader market analysis is determined to understand the profitable trends to gain a stronger foothold.
  • The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
  • The current RFID reader market forecast is quantitatively analyzed from 2012 to 2026 to benchmark the financial competency.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the RFID reader industry.
  • The report includes the market share of key vendors and RFID reader market trends.

RFID Reader Market Report Highlights

Aspects Details
By Product Type
  • Handheld RFID Reader
  • Fixed RFID Reader
By Frequency Band
  • Low Frequency
  • High Frequency
  • Ultra-High Frequency
By Industry Vertical
  • Transportation &Logistics
  • Healthcare
  • Hospitality
  • Food & Beverage
  • Retail
  • Manufacturing
  • Government
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Russia, Rest of Europe)
  • Asia-Pacific  (China, India, Japan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players Alien Technology, Applied Wireless Identifications Group, Inc., Avery Dennison Corporation, CAEN RFID S.r.l., Honeywell International Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Motorola Solutions, Inc., Zebra Technologies Corp., Unitech Electronics Co., Ltd.
 

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The RFID reader market is highly competitive, owing to strong presence of existing vendors. RFID reader vendors, who have access to extensive technical and financial resources, are anticipated to gain a competitive edge over their rivals, as they have the capacity to cater to the global market requirements. The competitive environment in this market is expected to further intensify with increase in technological innovations, product extensions, and different strategies adopted by the key vendors.

The RFID reader market holds high potential for various applications in sectors such as retail, defense, aerospace, transportation, healthcare, and others. The current business scenario is witnessing an increase in the demand for RFID reader, particularly in the developed regions such as the U.S, China, and others. Companies in RFID reader market are adopting various innovative techniques to provide customers with advanced and innovative features offerings.

Providing robust security to the systems and technological advancements in the automotive industry are the major factors that drive the market growth. Despite such advantages, high cost, and problem associated with multiple tag reading impede the growth of this market. In future, rapidly updating public transportation system and increase in penetration of RFID sensor in applications such as manufacturing & management, security, retail, and location tracking are the factors expected to create lucrative opportunities for the key players operating in the RFID reader market.

The key players operating in the global RFID reader market include Alien Technology, Applied Wireless Identifications Group, Inc., Avery Dennison Corporation, CAEN RFID S.r.l., Honeywell International Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Motorola Solutions, Inc., Zebra Technologies Corp., and Unitech Electronics Co., LTD.

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