The worldwide RFID printer market is projected to develop at a CAGR of 5.65% between 2020 to 2026. The development measurements recommend that many extensions need to extend from here on out. A wide cluster of utilizations of the RFID labels or Bar codes in the assembling, conveyance, and moving industry shows a sure sign for the concerned specialty to grow. The flood in retail advertising is an extremely significant element to ponder on account of these printers.
The RFID printer or radio recurrence distinguishing proof printer is a gadget that prints names of encoded computerized information in numeric or bars code design. This encoded mark gets decoded when filtered by an RFID peruse or a Bar Code scanner.
The cycle is advanced, secure, and quicker than some other technique to assign the character of movable and bundled products. This innovation has a great deal of potential to plan and explore the nature with advanced recurrence following cargo transport. The RFID name printing market should arrive at a critical high in the gauge period.
As indicated by RFID printer market drifts, the Asia-Pacific market adds to the biggest offer in the worldwide market. The Asia-Pacific nations like India, China, Japan, Indonesia, Hong Kong, and so forth have the biggest pieces of the pie for customer merchandise.
On account of circulation and coordinated factors, the colossal buyer base also revolves around their advanced development in the printing market. The RFID printing industry relies upon the exhibition of the assembling development of the centre businesses. More the products and materials will be put for appropriation, more the requirement for standardized tag recognizable proof for them.
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.
There has been a steady rise in the e-Commerce industry. This factor plays well for the RFID and barcode printer market also. In the present scenario, there is a steady increase in last-mile deliveries of consumer goods, groceries, and pharmaceutical goods as well. Since the eCommerce system heavily relies on trusted logistic options, the use of RFID printers, readers, scanners has increased too. This efficient form of accurate tracking and monitoring of the warehouse stock, roots for the steady market growth of these printers.
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.
A key restraint on the face of the market is several regulations in different countries for printing labels. A lot of the global superpowers have pledged to reduce the carbon footprint of the planet. On that mission, there have been a lot of regulations, tribunals, and environmental protection laws that prohibit excessive printing. The regulations prohibit the use of carbon-based chemical ink and paper for high-volume printing. The RFID printer market growth faces restraint for that.
It is hard to convince the authorities that label printing technology in developed countries uses raw material from legitimate and accountable resources. The ink used in the printing also complies with the industry safety and quality standards. So, the printing industry may get clearance for using the right and regulated material for RFID printing machines.
The bar code and RFID printing are not a challenge-free zone. One of the key challenging aspects of the printers is the printed label. The label has a lot of wax, or resin in them for protection against water and tear. But the wax on the label invites another issue which is the heat in the surrounding atmosphere. When shipments travel to various locations, they get exposed to various temperature differences. The printer electronics RFID labels can lose the printed information on them because of excessive heat.
Increased temperature is troubling for the wax to maintain its form. So, when the wax melts, there is a chance that the information wipes or fades also. This is a challenge that the market has to go through at present.
Despite the challenges, the global RFID printer market has managed to record net worth of USD 3.99 billion in 2019. The setback of 2020 may have damaged the growth, but the market is recovering. In 2021 the global market recorded a USD 3.9 valuation. In the present scenario, experts are suggesting that the market will grow at a CAGR of 5.65% for the forecast period of 2020 to 2026. Based on the latest projections, the global RFID printer market share will reach a valuation of USD 5.804 million by the end of 2026. This kind of growth statistics states that the printing industry will take advantage of the available opportunities and build upon that factor.
The chain of marketing for RFID printers is extremely valuable. As a part of the distribution, stocking, retaining, and shipping industry, the passive RFID printer market is dependent on a lot of factors. A surge in the oil prices, unavailability of the labor force, scarcity of consumer goods manufacturing, etc affect the business of the RFID printers a lot. Until and unless the core markets are functioning right, it is hard for the printing market to sustain growth.
RFID Printer Market Segment Overview:
Based on various parameters, there are several aspects of the market. The global RFID printer market size can be divided into various segments based on those aspects. The printing industry is focused on regional businesses mostly. But the global market can be classified based on –
RFID Printer Market Segment type:
RFID Printer Market Segment prince range:
RFID Printer Market Segment printing technology:
RFID Printer Market Segment frequency:
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.
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:
Avery Dennison Corp. brought their double innovation AD-362r6-P trim. This advancement made things level following and UHF computerized id handling conceivable.
The Printronix bunch sent off a warm scanner tag and RFID printer series named T6000e. This series included progressed capacities to develop efficiency further.
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:
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.