Rise in demand for RFID readers to track inventory & equipment and high sensing capability that operates from greater distance even in harsh environments drive the growth of the global RFID reader market. However, high manufacturing cost hinders the market growth. On the other hand, rise in penetration of RFID sensors in various applications such as retail, healthcare, and education create new opportunities in the coming years.
The global RFID reader market generated $8.87 billion in 2018, and is estimated to reach $22.46 billion by 2026, registering a CAGR of 9.8% from 2019 to 2026. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Covid-19 Impact Analysis:
The demand for RFID readers has increased during the months of coronavirus pandemic in the medical applications such as patient tracking, medical information storage, and patient data validation.
The new installations of the RFID readers have been done in hospitals and corporate offices to avoid the transmission of Covid-19 through door handles, lift buttons, and others.
Based on product type, the handheld RFID readers segment contributed to the largest share in 2018, accounting for more than three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the fixed RFID readers segment is expected to register the highest CAGR of 22.6% from 2029 to 2026.
Based on frequency, the ultra-high Frequency (UHF) (860 MHz to 960 MHz) segment accounted for the largest share in 2018, holding more than two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the high frequency (13.56 MHz) segment is estimated to portray the highest CAGR of 14.7% during the forecast period.
Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 15.1% from 2019 to 2026.
Leading market players analyzed in the research include Alien Technology, Avery Dennison Corporation, Applied Wireless Identifications Group, Inc., Honeywell International Inc., CAEN RFID S.r.l., Invengo Technology Pte. Ltd., Impinj, Inc., Zebra Technologies Corp., Motorola Solutions, Inc., and Unitech Electronics Co., Ltd.