ID: MRFR/SEM/3120-CR | February 2021 | Region: Global | 194 pages
RFID Printer Market Overview:
The global RFID printer market is projected to grow at a CAGR of 5.65% for the period between 2020 to 2026. The growth statistics suggest there is a lot of scopes for the market to expand in the future. A wide array of applications of the RFID tags or Bar codes in the manufacturing, distribution, and transporting industry shows hopeful indication for the concerned niche to expand. The surge in retail marketing is a very crucial factor to think about in the case of these printers.
The RFID printer or, radio frequency identification printer is a device that prints labels of encoded digital data in numeric or bars code format. This encoded label gets decoded when gets scanned by an RFID reader or a Bar Code scanner. The process is digital, secure, and faster than any other method to designate the identity of transportable and packaged goods. There is a lot of potential in this technology to map and navigate the identity with digital frequency tracking of freight transport. The RFID label printing market is supposed to reach a significant high in the forecast period.
The COVID-19 pandemic has imposed an added challenge upon a lot of thriving businesses in 2020. Since most of the countries in the world when into lockdowns, the transport industry got disrupted badly during that period. Lack of human workforce, reduced investments in the industries, and disruption in the manufacturing units have posed a critical situation for a lot of companies. The COVID-19 took a hit on RFID printer manufacturers also.
The RFID printing industry completely depends on the performance of the manufacturing growth of the core industries. More the goods and materials will be put for distribution, more the need for bar code identification for them. The RFID printer and reader are useful only when the logistics and distribution channels are working fine. So, the pandemic did have a noticeable impact on the market. Although, after the lockdowns were released, there has been a rapid recovery in the business. In high-income countries, the market falls in place within months.
RFID Printer Market Dynamics:
A lot of push in the market comes from the easement of using this technology. The portable RFID printer or mobile printing technology is a great advantage for stock managers, movers, shippers, and others who are in remote locations tracking a huge load of goods every day. The thermal printing technology in the business, is fast, flexibly, easy and productive. These mobile printing devices need low maintenance and are solid as on-the-go equipment.
The printers provide high-quality printing in no time and are capable of delivering a heavy volume of label printing for a prolonged time. These RFID card printers are easy to connect with the LAN network and provides service from a flexible distance also. This utility factor is a steady pusher for the market to expand. The market demand for efficient enterprise resource planning (ERP) is quite high. The printers and readers are an effective tool that enhances the ERP system.
The cost-effectiveness of the said product appeals to a lot of small and medium scale retailers to make use of the efficient technology. The returns on investments (ROI) are noticeably high in this product. So, the RFID label printers market can build on that factor greatly.
RFID Printer Market Segment type:
RFID Printer Market Segment prince range:
RFID Printer Market Segment printing technology:
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RFID Printer Market Segment application:
RFID Printer Market Segment region:
RFID Printer Market Regional Analysis:
According to RFID printer market trends, the Asia-Pacific market contributes to the largest share in the global market. The Asia-Pacific countries like India, China, Japan, Indonesia, Hong Kong, etc have the largest market shares for consumer goods. In the case of distribution and logistics, the huge consumer base in these areas promotes growth in the printing market as well. In 2018, Global RFID Printer Market valued at USD 3,993.6 Million in 2019 and is expected to reach USD 5,804.9 Million by 2026 with a CAGR of 5.65% during the forecast period, 2020–2026.
RFID Printer Market Competitive Landscape:
The retail segment of RFID printers is the largest market holders for years now. The eCommerce application of retail marketing is a prominent place for the market to grow. The latest RFID printer market forecast dictates that companies are going to make huge investments in the eCommerce niche. The global market volume for RFID printers will bloom in that situation.
Major key players in the global market are:
RFID Printer Market Recent Developments:
RFID Printer Market Report Overview:
This RFID printer market analysis report discusses the market drivers, challenges, opportunities, and other growth factors of the market.
RFID Printer Market Report time:
RFID Printer Market Report Demographic:
Frequently Asked Questions (FAQ) :
Adoption of new technologies and demand for smartphones are drivers of the global RFID printer market.
The global RFID printer market growth can be impeded by its high manufacturing costs.
The global RFID printer market valuation can touch USD 4.82 billion by 2023.
The global RFID printer market is likely to enjoy a CAGR of 4.90% from 2017 to 2023.
North America can lead in the global RFID printer market till 2023.
TSC Auto ID Technology Co., Ltd, Toshiba Tec Corp., Honeywell International Inc., Wasp Barcode Technologies, Avery Dennison Corporation, Seiko Epson Corporation, Postek Electronics Co., Ltd., SATO Holdings Corporation, Godex International Co. Ltd., Dascom, and Zebra Technologies Corporation are prominent players of the global RFID printer market.