RFID Readers Market Estimated to Exhibit 12.3% CAGR Through 2027

News provided by

20 Mar, 2018, 15:00 GMT

VALLEY COTTAGE, New York, March 20, 2018 /PRNewswire/ --

Future Market Insights (FMI) has published a new research report titled "Radio Frequency Identification (RFID) Readers Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)." The report states that the growing penetration of advanced technology along with increasing supply chain complexities are encouraging consumers to adopt RFID technology. Owing to this, players operating in the RFID readers market are incessantly upgrading their product portfolios in order to meet the demands of consumers across the globe.

(Logo: http://photos.prnewswire.com/prnh/20161020/430874LOGO )

For instance, in April 2016, Zebra launched RFD8500, which is a multi-operating system. This new product was designed to add high performance RFID and 1D/2D barcode scanning to android and iOS compatible mobile devices. This RFID reader is anticipated to help in adding better data collection capabilities and help in communicating with other host devices to write and read data. Additionally, in January 2017, Zebra launched Zebra SmartSense RFID for application in the retail sector to identify and track the location of the associates, merchandise, and shoppers in a retail store in real time. Some of the other companies operating in the global RFID readers market are Invengo Information Technology Co. Ltd., GAO RFID Inc., Impinj, Alien Technology, Xerox Corporation, Honeywell, and Datalogic.

According to the report, the global RFID readers market is expected to witness a significant CAGR of 12.3% from 2017 to 2027. The market was worth US$ 5545.5 Mn in 2017 and is expected to rise to a valuation of US$ 17,758.8 Mn by the end of the forecast period.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-6432

Retail Sector to Intensify its Deployment of RFID Technology

Growing demand for efficient supply chain operations in the retail sector is leading to a rising demand for RFID technology. RFID tags and readers are installed by companies as a part of their security issues to prevent risk of theft and loss. Companies are intensifying the adoption of automated item identification systems for supply chain management in order to improve inventory allocation efficiencies. The growing need for efficient supply chain management is expected to support revenue growth of the RFID readers market during the forecast period. RFIDs store detailed information up to 2 KB related to the product on which it is tagged. Prices and details of the product with RFID tags are spontaneously chronicled when the customer approaches the counter, without scanning each and every product, which saves time of the customer. Furthermore, it permits cost tally in one scan, which saves time of the user as well as the product retailer.

The pressing need for RFID technology in the healthcare sector is also adding to the growth of the RFID reader market. In the healthcare sector, the focus on RFID technology for tracking and cataloguing of medical equipment is surging and this is anticipated to drive the demand for RFID readers. This technology ensures patient safety, improves supply chain efficiency, and decreases human errors in healthcare procedures. Healthcare management and monitoring of critical care equipment is another leading area for the application of RFID technology.

Preview Analysis RFID Readers Market Segmentation By Types- Fixed RFID Readers: Integrated RFID Readers, Non-Integrated RFID Readers; Handheld RFID Readers; Frequency- Low Frequency (125 kHz, 134.2 kHz), High Frequency (13.56 MHz), Ultra High Frequency (865- 928 MHz); Communication- Wi-Fi, Ethernet, Others (Bluetooth); Industry- Logistics and Transportation, Aerospace and Defense, Automotive, Retail, Agriculture, Healthcare, Government: https://www.futuremarketinsights.com/reports/rfid-readers-market

Breech and Data Insecurity to Hinder Market Growth in the Long Run

RFID readers and tags do not have a locking system or for that matter, a secure password. As a result, the risk of information breach increases. The dearth of security systems is a restraining factor in the growth of the RFID readers market. Several companies in the healthcare and other industries avoid using these systems for asset tracking as there is a chance of information breach related to the usage of medicine.

With this factor restraining the growth of the market, it is yet to be seen where the global RFID readers market will stand in the next 10 years.

Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-6432

More from FMI's Electronics, Semiconductors, and ICT Market Intelligence:

Wearable Fitness Trackers Market Segmentation By Product Type - Wrist Wear(Bands, Watches), Leg Wear (Shoes, Leg Straps) and Smart Garments; By Application - Pedometer, Heart Rate Monitor, Daily Activity Tracker, Call, Text, & Calendar Alerts, Sleep Tracking and GPS Tracking: https://www.futuremarketinsights.com/reports/wearable-fitness-trackers-market

LED Lights Market Segmentation By Product Type - Lamps and Luminaries; By Sales Channel - Modern Trade, Departmental Stores, Convinience Store, E-Commerce and others; By Application - Residential, Office, Industrial, Shops/Stores and Hospitality: https://www.futuremarketinsights.com/reports/led-lights-market

Internet of Things (IoT) Security Product Market Segmentation By Component- Hardware, Software; Deployment Type- End-point or Device Security, Network Security, Identity and Access Management, Vulnerability Management, Messaging Security, Web Security, Others; Application- Machine-to-Machine (M2M) Communication, Smart Grid, Home and Building Automation, Wearable Computing Devices, Vehicle-to-Vehicle (V2V) Communication: https://www.futuremarketinsights.com/reports/internet-of-things-security-products-market

About Us

Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

Browse More Electronics, Semiconductors, and ICT Market Insights

Contact Us
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): +44(0)20-7692-8790
Sales: sales@futuremarketinsights.com
Press Office: Press@futuremrketinsights.com