The growing adoption of RFID technology is fuelling the demand for RFID testers, and is significantly driving the global RFID tester market. RFID is wireless technology that uses electrostatic or electromagnetic coupling in the radio frequency (RF) portion of the electromagnetic spectrum for identification. To ensure the operability of products, globally, multiple standards have been developed.
RFID testers read passports, cards, smartphones, readers, and others in order to check compliance. The increasing need for RFID technology in the healthcare sector is one of the primary drivers for the global RFID tester market. In the healthcare sector, the focus on RFID technology for the tracking and classification of medical instruments is rising, and this is expected to drive the demand for RFID testers.
Since RFID technology aids in improving supply chain efficiency, ensuring patient safety, and reduces human errors in healthcare processes, the demand for RFID testers is increasing.
The retail sector is another potential segment for RFID testers. The increasing demand for RFID technology from the retail sector in order to reduce supply chain complexity is contributing to the growth of the global RFID tester market. The increasing demand for efficient supply chain operations in the retail sector is leading to the increasing demand for RFID technology, and significantly contributing to the growth of the RFID tester market.
RFID tags and readers are deployed by retail shops for security purposes to prevent theft and loss. Companies are increasingly adopting automated item identification systems for supply chain management for improving inventory allocation efficiencies. The rising need for efficient supply chain management is expected to support the growth of the RFID and RFID tester market during the forecast period.
Moreover, it is a cost-effective solution for efficient operations. Several developments in RFID testers with reference to technology are expected to drive the growth of the global RFID tester market during the forecast period.
The massive adoption of RFID in industries such as automotive, retail, healthcare, pharmaceuticals, logistics, and others are fueling the demand for RFID testers. The growing trend of real-time identification, and adoption of IoT and big data are playing a pivotal role in the growth of the RFID tester market.
The demand for RFID technology for application in the automotive industry is witnessing considerable increase. This is attributed to the increasing number of RFID testers, globally. Car manufacturers and suppliers are increasingly adopting RFID technology for tracking goods and other things. Different RFID applications are used to track and identify vehicles and their parts. All these factors are expected to drive the global RFID tester market during the forecast period.
The challenge hindering the growth of the RFID tester market is lack of standardization of RFID in several countries and regions. For instance, Europe and the U.S. have a different range of frequencies for RFID functioning. For example, a significant part of North America, Latin America, China, and Australia operate between 902 - 928 MHz, while a significant part of Africa, Europe, and Asia operate between 865 - 868 MHz.
All these differences in the frequency range are negatively impacting the growth of the global RFID tester market.
Some of the prominent players in the RFID tester market are BGIngénierie, MCS Test Equipment, PERITEC INC., Averna, Concentric Technology Solutions, Inc., National Instruments, CISC Semiconductor, and others.
North America and Western Europe are expected to have prominent market shares in the global RFID tester market. The U.S. and Germany have a high demand for RFID testers, due to the increasing demand from the automotive and retail sectors. Developing countries of APEJ such as India and China are expected to project high Y-o-Y growth rates during the forecast period in the RFID tester market.
The RFID tester market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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RFID Tester Market
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