Market Highlights
According to Market Research Future (MRFR), the global RFID printer market is estimated to reach approximately USD 4.82 billion, with 4.90% CAGR from 2017 to 2023 (forecast period). The report illustrates the strengths, opportunities, threats, and potential business risks and provides a detailed analysis of the global market environment with the impact of COVID-19.
Market Dynamics
The growing demand for electronic printing and ink technology is mainly driving the global RFID Printer Market Report. Key manufacturers of RFID technology are printing cheap tags as needed by end-users, thus providing a significant boost to the market. These are some of the factors predicted to help growth in the RFID printer market in the near future. In addition, the industry for RFID printers has shown promising growth with the launch of RFID laser printing technology.
Moreover, growing demand for effective and better inventory management systems that can help monitor and forecast the overall outflow of raw materials as well as stockpiling and various other processes is driving the growth of the global RFID printer market.
In addition, factors such as the increasing demand for smartphones and the adoption of technology are helping to expand the market at a fast rate. However, the high cost of the RFID printer is a factor that may impede the growth of the overall market.
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Segmentation:
The global RFID printer market has been segmented into printer type, printing technology, and applications.
Based on printer type, the global RFID printer market has been segmented into industrial printers, desktop printers, and mobile printers.
Based on printing technology, the global RFID printer market has been segmented into thermal transfer, direct thermal, and inkjet.
Based on applications, the global RFID printer market has been segmented into manufacturing, retail, transportation and logistics, healthcare, government, entertainment, and others.
Regional Analysis
Geographically, the global RFID printer market has been segmented into North America, Europe, Asia Pacific, and Rest of the World.
Regionally, Asia Pacific captured the largest market share from countries such as China, India, and Japan, among others. The reason for this is the increasing need for rapid economic growth and the emergence of large and medium-sized enterprises. Strong economic growth and rapid urbanization are leading to the growth of the Asia Pacific RFID printer industry. Moreover, Asia Pacific is expected to rise over the 2017-2023 forecast period.
Key Players
The key participants identified by MRFR operating in the global RFID Printer market include- Zebra Technologies Corporation, SATO Holdings Corporation, Honeywell International Inc., Toshiba Tec Corp., Avery Dennison Corporation, Seiko Epson Corporation, TSC Auto ID Technology Co., Ltd, Wasp Barcode Technologies, Dascom, Postek Electronics Co., Ltd. and Godex International Co. Ltd. among others.
Competitive Landscape
The global market for RFID printers is highly competitive. Various existing international brands, domestic brands, and new entrants shape a competitive landscape. Increased market growth by various strategic mergers and acquisitions, innovation, increased investment in research and development, and a cost-effective product portfolio are few strategies adopted by key players.
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RFID Printer Market, By Printer Type (Industrial Printers, Desktop Printers and Mobile Printers), By Printing Technology (Thermal Transfer, Direct Thermal and Inkjet), By Application (Manufacturing, Retail, Transportation and Logistics, Healthcare, Government, Entertainment and Others) - Forecast 2023
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