Radio Frequency Identification (RFID) Readers Market: A fresh study report from Future Market Insights is titled Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027). (FMI). The poll found that the expansion of advanced technologies and the complexity of the supply chain are pushing consumer adoption of RFID technology. Because of this, businesses that sell RFID readers are always updating their product lines to meet the demands of clients from all over the world.
For instance, Zebra released the RFD8500, a multi-operating system, in April 2016. For mobile smartphones running Android and iOS, this new device was created to deliver high-performance RFID and 1D/2D barcode reading. The adoption of this RFID reader is projected to bring increased data collection capabilities as well as communication with other host devices for data recording and reading. Additionally, Zebra released Zebra SmartSense RFID in January 2017 for usage in the retail sector to identify and track the locations of staff, merchandise, and customers in real-time. Invengo Information Technology Co. Ltd., GAO RFID Inc., Impinj, Alien Technology, Xerox Corporation, Honeywell, and Datalogic are a few of the well-known companies in the world market for RFID readers.
The analysis projects that from 2017 to 2027, the global market for RFID readers will grow significantly, with a CAGR of 12.3%. By the conclusion of the projected year, the market, which had a valuation of US$ 5545.5 million in 2017, is anticipated to have increased to US$ 17,758.8 million.
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Retail Sector to Intensify its Deployment of RFID Technology
The retail industry’s growing need for effective supply chain management is driving greater demand for RFID technology. Companies install RFID tags and readers as part of their security measures to reduce the risk of theft and loss. In order to increase the effectiveness of inventory allocation, businesses are ramping up the deployment of automated item identification systems for supply chain management. During the projected period, the market for RFID readers is anticipated to experience revenue development due to the expanding requirement for effective supply chain management. Up to 2 KB of detailed data on the thing it is attached to is stored by RFIDs. When a consumer approaches the counter, the prices and details of the goods with RFID tags are automatically recorded without having to be scanned individually 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.
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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.
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Market Taxonomy
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
Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- MEA
- Asia Pacific
- China
- Japan
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