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RFID Reader Market Worth USD XX.XX million by the end of 2022 | Top Leading Players are involved in this report - Motorola Solutions, Inc., Impinj, Inc., Zebra Technologies, Unitech Limited, Honeywell International Inc., Datalogic SpA, Technology Solution
Radio frequency identification (RFID) technology incorporates electromagnetic fields in the radiofrequency part of the electromagnetic spectrum to identify an object, animal, device or person. An RFID system has been developed with this technology and consists of three components: an RFID reader, RFID tags and software and RFID middleware. An RFID reader is a device used to interrogate an RFID tag. The reader antenna transmits radio waves to communicate with radio tags that store specific information about the object / article. This information provides item identification, proof of ownership, original storage location and history. To scan the data of a tag, RFID readers must be set to the frequency corresponding to that of a tag. Previously, each region was assigned a specific band of radio spectrum for RFID, which resulted in a lack of standardization. To avoid these problems, many regions have specified three frequency ranges, namely low frequency (125 or 134 kHz), high frequency (13.56 MHz) and ultra-high frequency (865 to 868 MHz). This standard frequency has led to the adoption of RFID technology.
RFID Reader Market Size:
According to the research report, the RFID Reader market was valued USD XX.XX Million in 2017, and Expected to reach USD XX.XX million by the end of 2022 with a CAGR of xx.xx% during the forecast period 2016-2022.
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RFID Reader Market Drivers and Restraints:
The growing need for efficient management of the supply chain, the growing demand for RFID systems in the transport and health sectors are driving the adoption of the RFID system in the market. In addition, growth in the retail sector and the integration of new technology into RFID readers is driving the growth of the market. The high cost of reading materials and the lack of standardization hinder the growth of the market. Scanning problems for readers further hinder the growth of the RFID reader market. The key trends in the RFID reader market are the growing number of partnerships between organizations to develop an innovative product. The higher rate of adoption of RFID technology is also fashionable in the market.
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RFID Reader Market Geographical Segmentation:
From the geographical point of view, market is segmented into regions such as Europe, North America, Latin America, Asia Pacific, and Middle East and Africa. North America is expected to be the largest market for the RFID reader market. Most suppliers of RFID readers are based in North America, which is attributed to the growing digitalization and industrialization in the region. The market is expected to grow in Europe due to the presence of other suppliers such as Technology Solutions Ltd and Datalogic SpA in the region.
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RFID Reader Market Key Players:
Motorola Solutions, Inc., Impinj, Inc., Zebra Technologies, Unitech Limited, Honeywell International Inc., Datalogic SpA, Technology Solutions Ltd, Applied Wireless Identifications Group, Inc., RF IDeas, Inc., and Intermec are the prominent players of the market.
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