Technavio expects global RFID readers market to reach over $3 billion by 2020

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This global market research covers the growth prospects of the RFID readers market with segmentation based on end-users (retail, transportation, logistics, manufacturing, and others). It also provides a detailed analysis of the market shares for key geographies, which includes regions like EMEA, Americas, and APAC. Key vendors in this market are Alien, Impinj, Honeywell, and Zebra.

Technavio’s market research analysts estimate the global RFID readers market to grow at a CAGR of 21% between 2016 and 2020. Growing application of RFID readers in different end-user segments like healthcare, transportation, and retail is a major factor driving the growth of this market. The Americas is a key region in the global RFID readers market, occupying around 51% of the overall market share. The introduction of stringent mandates that necessitates the usage of RFID devices in various sectors like transportation and healthcare is expected to impel market growth during the forecast period.

The new market research report from Technavio provides a breakdown and analysis of the RFID readers segments by technology.

“With the introduction of RFID and barcode systems firms are able to record and recognize data entries automatically with more precision. It not only helps in the automation of data entries but also corrects warehouse errors. The ability of these readers to facilitate the efficient tracking of assets is a significant factor that is expected to foster its adoption during the forecast period,” says Navin Rajendra, Industry Manager, Hardware & Semiconductor, Technavio Research.

The retail sector is the largest revenue contributing segment in the RFID readers market, accounting for 55% of the overall market revenue. The growing need to improve inefficiencies in the supply chain is a critical factor that results in this segment’s high market share of nearly 58% by 2020. Also, RFID tags offer advantages such as faster checkout times, long read range, and reuse of tags, prompting retailers to switch to RFID tags.

The key vendors in the global RFID readers market include Alien, Impinj, Honeywell, and Zebra. The market is highly fragmented due to the presence of numerous large and small vendors. The competitive environment in this market is expected to intensify during the forecast period owing to factors like the increase in R&D innovations by vendors and the expansion of key vendors into the APAC region.

A more detailed analysis is available in the Technavio report, Global RFID Readers Market 2016-2020.

We can customize reports by other regions and specific segments upon request.

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