According to a new market research report published by Credence Research “Radio Frequency Identification (RFID) Printers Market (Product Type – Industrial RFID Printers, Handheld RFID Printers and Desktop RFID Printers; Frequency – High Frequency/NFC (13.56 MHz), Ultra-high Frequency (860 MHz to 960 MHz) and Combined; Printing Technique – Direct Thermal, Thermal Transfer and Combined; Industry Verticals – Apparel & Retail, Pharmaceuticals & Healthcare, Transportation & Logistics, Industrial Manufacturing, Automotive and Others (Agriculture, Oil & Gas, Government etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global RFID printers market was valued at US$ 1,840 Mn in 2017 and is set to exhibit double digit CAGR during the forecast period from 2018 to 2026.
The overall RFID printers market is highly driven by the rapidly growing inclination towards smart packaging & labels across different industry verticals. RFID technology forms the core of smart labels by incorporating an inlay in the label. Thus, with growing adoption of RFID technology (over barcodes) coupled with smart labels, the demand for RFID printers is set to exhibit double digit growth rate over the following years. Another major factor governing the RFID printers market is the consistently growing retail and transportation & logistics sectors worldwide. Governed by Asia Pacific, China and India are among the most prominent markets with huge retail and logistics sectors. Rapidly growing e-commerce sector in these countries is expected to further drive the demand for effective asset & inventory tracking from warehouses. As a result, RFID printers market is set to register promising growth rate during the forecast period.
RFID printers market is segmented based on product type, frequency, printing technique, industry vertical and geography. Based on product type, the industrial RFID printers segment led the overall market with market share of more than 50% in 2017. In the following years, handheld RFID printers segment is expected to register the highest CAGR due to increasing application of RFID printing in commercial spaces and healthcare segments. On the basis of printing technique, the market is led by combined RFID printers, followed by thermal transfer printing segment. Further, based on the geography, Asia Pacific dominated the overall RFID printers market in 2017 with over 40% market share.
The overall RFID printers market is quite competitive in nature with companies having rivalry with RFID printer manufacturers as well as barcodes technology. RFID technology offers immense benefits over conventional barcodes in terms of scanning and varied applications. However, higher cost of these systems remains a major concern. Thus, market players emphasize on product enhancement directed towards higher printing speed and volume. In addition, most of the RFID printers are capable of printing both RFID tags and barcodes. This is due to the fact that barcodes are still in use across large number of applications.
Browse the full report at https://www.credenceresearch.com/report/rfid-printers-market
Some of the major RFID printers market players profiled in the report include Zebra Technologies Corporation, Avery Dennison Corporation, SATO Holdings Corporation, Toshiba Tec Corporation, Honeywell International, Inc., Lexmark International, Inc., BOCA Systems, GAO RFID, Inc., GoDex International, Printronix, Inc. and others.