The RFID printers market is predicted to be worth US$ 1,871.07 million in 2023 and rise to US$ 3,750.05 million by 2033. The global industry is expanding at a CAGR of 7.2% from 2023 to 2033.
The use of RFID tags has increased as a result of the expansion of retail trade. As a result, there is a significant demand for mobile and industrial RFID printers across a variety of asset-intensive industries. The wholesale packets’ RFID chips include information about their contents, and can also trigger an alert if a shoplifter tries to elude detection at the exit.
RFID printers can be used in retail stores and warehouses to enhance the inventory management process. Another element anticipated to encourage expansion in the global market is rising demand from the healthcare sector for proper administration of patient data and papers.
Another factor anticipated to promote the expansion of the global demand for RFID printers is the transport sector’s growing usage of the technology to track shipping orders. However, the high cost of RFID solutions is likely to hamper the market growth.
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Profitable Market Opportunity
Offering lower-priced products and improving them with the help of RFID printers is a key function that provides maximum profits to manufacturers. Also, it is anticipated that the steadily accelerating printing rates can highly contribute to the global market’s expansion.
Key Takeaways
- By 2033, the RFID printers market in the United Kingdom is likely to expand, with the CAGR of 7.2%.
- By 2033, the United States is likely to lead the RFID printers market with the CAGR of 6.8%.
- The RFID printers market was significantly expanding, with a size of US$ 1,745.4 million in 2022.
- The market is anticipated to expand at a valuation of US$ 2,305.02 million by 2026, as a result of the surging trend of smart packaging.
- Due to the market’s potential opportunities and emerging technologies, analysts expect it is likely to rise 1.07 times between 2022 and 2023.
- Based on product type, the industrial RFID printers dominated the market in 2022 and continued to lead, with the market CAGR of 5.9% by 2033.
- Based on printing type, the thermal transfer led the market share in 2022, and continues to lead the market with a CAGR of 7.7% during the forecast period.
- Based on industry, the retail segment is likely to lead the market with a CAGR of 7.8% by 2033.
Effective Techniques Raising the Profits of Key Players
Key manufacturers of RFID printers are considering making large investments in technological breakthroughs, new product launches, and corporate expansion in order to increase the number of applications for RFID printers. Players are concentrating on ensuring quality, safety, and customer satisfaction employing printing technologies in order to draw in a wider client base.
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Recent Developments
- April 2017: Target and Avery Dennison have started working together. With the help of this collaboration, the company introduced RFID technology to more than 1,600 stores, maximizing inventory availability and improving the consumer experience.
- February 2018: Honeywell unveiled new cloud-based safety suite software and specialized electronic tags. To keep track of usage, maintenance, and training, the Honeywell Safety Suite software scans the RFID tags. It helps the company increase the number of RFID printers it offers.
Key Segments
RFID Printers by Product Type:
- Desktop RFID Printers
- Industrial RFID Printers
- Mobile RFID Printers
RFID Printers by Printing Type:
- Direct Thermal
- Thermal Transfer
RFID Printers by Industry:
- Manufacturing
- Transportation
- Retail
- Healthcare
RFID Printers by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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