- Industry Size (2022)
- USD 14.5 Bn
- Forecast (2032)
- USD 44.63 Bn
- CAGR (2022 to 2032)
- 11.9%
Introduction
The growing use of cloud-based applications in several sectors such as logistics and retail is expected to create opportunities for the manufacturers of RFID readers to integrate both the technologies. RFID has applications in sectors such as manufacturing, logistics, healthcare, and retail, among others. Hence, deployment and management of data recorded in these tags becomes difficult.
Thus, integration of cloud-based applications with RFID readers can aid in providing centralised management without increasing deployment cost. These RFID readers for cloud based networks will have a huge demand during the forecast period and will offer potential opportunities for manufacturers of RFID readers.
North America to stay at the vanguard of development
North America is anticipated to lead the global RFID readers market in the long run due to high deployment in the automotive sector. RFID enabled system for truck, bus, trailer and passenger vehicle makes tire inspection procedures easy, fast, precise, and facilitates instant reporting. The benefits are life cycle management, multiple uses, no paper or manual errors and improved inspection of the vehicle tyre.
For instance, Michelin Americas truck Tires which is a division of Michelin North America, Inc. and manufacturer of vehicle tires added RFID technology to Michelin commercial truck tires. The addition of RFID to tires provides benefits such as road safety, self-inspections, and shows in depth tire summary including critical analysis of tire health.
Western Europe trailing North America closely
The growing retail sector in the Western European countries is expected to push the market towards growth in this region. Retail sector is witnessing a huge growth in Western Europe. The growing retail sector is anticipated to witness a high demand for RFID technology because of its features like simplified supply chain management, inventory management and security concerns.
Handheld RFID readers have high demand in this region. In April 2017, The Target Corporation, which is a chain of discount retail stores partnered with Avery Dennison, which is a global leader in Radio Frequency Identification (RFID)-enabled solutions for using the RFID in its 1,600 stores to maximize inventory availability in store.
The growing deployment of RFID technology in the healthcare sector as well as the aerospace and automotive industries is expected to bode well for the growth of the market in the coming years. The integration of Big Data and IoT platforms in RFID solutions and the rising demand for smart campus and colleges in the region is further triggering the growth of the market in the region.
Eastern Europe to buckle up in the game
The deployment of RFID readers is increasing substantially owing to the rising clinical research safety concerns in the regions. Eastern Europe countries have high concerns on clinical research in hospitals and institutes safety and improving supply chain operations. RFID tags and readers are used to monitor the quality and quantity of medicine and storage conditions such as temperature and moisture of environment.
The clinical research organisations in Eastern Europe are focusing more on R&D initiatives to develop new technologically driven pharmaceuticals. For example, the practice of implementing RFID technology in the Russian pharmaceutical industry was proposed by Russia’s president, Vladimir Putin in 2015.
Market Taxonomy
By Types:
- Fixed RFID Readers
- Integrated RFID Readers
- Non-Integrated RFID Readers
- Handheld RFID Readers
By Frequency:
- Low Frequency (125 kHz, 134.2 kHz)
- High Frequency (13.56 MHz)
- Ultra High Frequency (865- 928 MHz)
By Communication:
- Wi-Fi
- Ethernet
- Others (Bluetooth)
By Industry:
- Logistics and
- Transportation
- Aerospace and
- Defense
- Automotive
- Retail
- Agriculture
- Healthcare
- Government
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- MEA
- Asia Pacific
- China
- Japan
Frequently Asked Questions
How is the RFID Readers Market Growing?
The RFID readers market is predicted to grow at an 11.9% CAGR through 2032.
Which Region Holds the Highest Revenue Potential in the RFID Readers Market?
North America RFID readers market holds the highest revenue potential.
What is the Future Scope of Growth for the RFID Readers Market?
The RFID readers market is expected to surpass USD 44.63 Billion by 2032.
What is the RFID Readers Market Size?
The RFID readers market size is anticipated to be over USD 14.5 Billion in 2022.
Preview the report firsthand - request a free sample
Get SampleGet the brochure for pricing and purchase details.
Get PDFTable of Content
- 1. Executive Summary
- 2. Market Introduction
- 3. Market Background
- 4. Market Forecast
- 5. Global RFID Reader Market Analysis By Types
- 5.1. Fixed RFID Readers
- 5.1.1. Integrated RFID Readers
- 5.1.2. Non-Integrated RFID Readers
- 5.2. Handheld RFID Readers
- 5.1. Fixed RFID Readers
- 6. Global RFID Reader Market Analysis By Frequency
- 6.1. Low Frequency
- 6.2. High Frequency
- 6.3. Ultra High Frequency
- 7. Global RFID Reader Market Analysis By Communication
- 7.1. Wi-Fi
- 7.2. Ethernet
- 7.3. Others (Bluetooth)
- 8. Global RFID Reader Market Analysis By Industry
- 8.1. Logistics and Transportation
- 8.2. Aerospace and Defense
- 8.3. Automotive
- 8.4. Retail
- 8.5. Healthcare
- 8.6. Others (Government, Education, Agriculture)
- 9. Global RFID Reader Market Analysis By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. MEA
- 9.6. Asia Pacific
- 9.7. China
- 9.8. Japan
- 10. North America RFID Reader Market Analysis
- 11. Latin America RFID Reader Market Analysis
- 12. Western Europe RFID Reader Market Analysis
- 13. Eastern Europe RFID Reader Market Analysis
- 14. Middle East and Africa RFID Reader Market Analysis
- 15. Asia Pacific RFID Reader Market Analysis
- 16. Japan RFID Reader Market Analysis
- 17. China RFID Reader Market Analysis
- 18. Market Structure Analysis
- 19. Competition Analysis
- 19.1. Zebra
- 19.2. Invengo
- 19.3. GAO RFID Inc.
- 19.4. Xerox
- 19.5. ALIEN Technology
- 19.6. Spectra Vision
- 19.7. Trimble
- 19.8. Impinj
- 19.9. Honeywell
- 19.10. Datalogic
- 19.11. TSL
- 19.12. CAEN RFID
- 19.13. CIPHER Labs
- 19.14. Unitech
- 20. Research Methodology
