The "RFID Printers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.
The overall RFID printers market expected to demonstrate double digit CAGR during the forecast period from 2020 to 2028, up from US$ 2,208.8 Mn in 2019.
RFID is one of the most revolutionary technologies used for asset tracking and inventory management across numerous industries including retail, transportation, supply chain management, industrial manufacturing, healthcare and several others. With continually increasing penetration of RFID technology, RFID printers have gained immense demand over the period. RFID printers are designed for mass printing/encoding applications with significant speed, thereby saving time.
Thus, these printers are highly suitable in warehouses and manufacturing plants where large volumes of inventory/material need to be managed. The overall RFID printers market is highly driven by the rapidly growing inclination towards smart packaging. With RFID technology steadily replacing barcodes, the market is set to continue exhibiting promising growth over the forecast period.
Industrial RFID Printers to Continue Leading the Market throughout the Forecast Period
In 2019, industrial RFID printers market contributed to the largest share, in terms of value, in the overall market worldwide. These types of printers are widely used in industrial sector as they are designed for high speed and high volume RFID printing applications. The segment is estimated to retain its dominant position in the market with ever-growing e-commerce and warehouses & transportation sectors worldwide. In addition, these are among the pioneers in adopting smart labeling technologies, making them the most promising end-user segment of the market. Mobile RFID printers segment is set to demonstrate the highest growth rate during the forecast period. These are handheld printers capable of serving variety of applications within a manufacturing/warehouse facility. Due to ease of use and enhanced flexibility, the segment would experience higher demand as compared to its counterparts.
Asia Pacific to Remain the Largest Market due to its Rising Industrial & Retail Sectors
In 2019, Asia Pacific accounted for nearly 40% of the total market value generated worldwide. Asia Pacific possesses the largest retail sector across the globe, growing approximately with an annual rate of 5% since 2015. Rapid growth in e-commerce and transportation & logistics sectors in the region is expected to ensure robust demand for overall RFID solutions over the forecast period. For instance, the warehousing & logistics industry in India is growing with growth rate of more than 10% year-on-year. Similarly, warehousing & logistics industry in China is among the largest industry across the world, facing substantial inefficiencies in its processes. These factors collectively are expected to retain the dominant position of Asia Pacific during the forecast period. North America and Europe follow the Asia Pacific region in the global RFID printers market.
High Cost and Prevalence of Barcodes makes the Market Competitive
The RFID printers market is highly competitive in nature due to continued challenge to the technology from conventional barcode system. Thus, market players focus on evolving their products by improving printing speed, volume and ease of use. Additionally, RFID printers with added functionality of printing barcodes too are present in the market in order to cater to larger application area. Apart from manufacturing and supply chain sectors, market players focus on sectors such as libraries, government agencies, commercial sector, healthcare and several others.
Key questions answered in this report
What was the market size of RFID printers in 2019 and forecast up to 2028?
Which is the largest regional market for RFID printers?
What are the notable market trends observed in the RFID printers market?
Who are the key players leading the market?
What are the key strategies adopted by the leading players in market?
Unique data points of this report
Key trends on smart labels and smart packaging markets
Statistics on retail and industrial manufacturing sectors worldwide
Recent trends across different regions in terms of adoption of RAIN RFID technology
Attractive investment proposition for industry vertical segment as well as geography
Comparative scenario for all the segments for years 2019 (actual) and 2028 (forecast)
Increasing Inclination towards Smart Labels
Growing Penetration of RFID Technology Across Different Applications
Rising Retail and Transportation & Logistics Sectors Worldwide
Higher Cost as compared to Barcodes
Impact Analysis of Drivers and Restraints
Avery Dennison Corporation
GAO RFID, Inc.
Honeywell International, Inc.
Lexmark International, Inc.
SATO Holdings Corporation
Toshiba Tec Corporation
Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/cvdsw0
View source version on businesswire.com: https://www.businesswire.com/news/home/20201231005201/en/
Laura Wood, Senior Press Manager
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