RFID Reader Market 2018 – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2023
Global RFID reader market witnesses a double-digit CAGR by 2023, according to a report published by S & P Consulting. RFID readers are gaining attention by the healthcare sector and the emphasis is on RFID technology for serving tracking and recording and retrieving medical devices.
Dallas, United States – June 14, 2018 /MarketersMedia/ —
The global RFID reader market witnesses a double-digit CAGR by 2023, according to a report published by S & P Consulting. RFID readers and sensors are gaining wider attention by the healthcare sector and the emphasis is on RFID technology for serving tracking and recording and retrieving medical devices. The technology sufficiently caters in patient safety, eliminates human errors and enhances efficiency of supply chain. RFID technology thus stands out to be more sophisticated and effective from industrial perspective.
The manufacturers are anticipated to have inclination towards technological innovations to boost the overall efficiency of the device to cater to unmet demands of communication in the real-time. Rising adoption rate, technological innovations, augmented awareness regarding the significance, and growing demands among the end sectors are some of the key factors that are anticipated to foster the RFID Reader market in the upcoming period. Rising need for efficiency in supply chain propels revenue growth of RFID reader market. Also, the factors such as product innovation and emergence of wireless technology are likely to contribute greatly to the market growth in the forecast period.
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In another instance, RFID readers have been mandated for animal tracking under animal identification number (AIN) policy. Powercast Corp, has recently announced industry’s first RFID sensor tags that comprises multiple sensors under a single tag, resulting into precision in temperature and humidity.
Geographically, it is anticipated that the RFID Reader Market might show a robust growth in the North American region. Presence of leading companies, constant technological innovations, R&D activities, and huge adoption rate by the sectors have been identified as the key factors driving the region’s market growth.
The key players in the RFID reader market includes TSL, Honeywell, Fieg Electronics, Unitech, Datalogic, Zebra, Impinj, Alien Technology, ThingMagic, Chinareader, and others. The leading manufacturers are taking up policies such as partnerships, mergers and acquisitions, and joint ventures to propel the inorganic market growth.
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