Market Highlights
The global RFID printer market size is poised to reach USD 4.82 billion by 2023, according to MRFR. It is driven by the need for labels for identification of objects. Its application in inventory and warehouse management is expected to bolster market demand exponentially. Adoption of RFID tags in manufacturing, logistics, healthcare, and transportation is likely to result in the market expanding at 4.90% CAGR from 2017 to 2023 (forecast period).
RFID printer is a printer primarily designed to write data to RFID chips embedded in smart labels. The printer includes an RF encoder that transmits and encodes data to the chip. This printer also verifies the data to ensure that it has been encoded correctly. RFID printers often print the label on their own, add the barcode and graphics, or any other information required on the label.
Market Dynamics
The growing demand for electronic printing and ink technology is mainly driving the global RFID printer market. 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.
In addition, leading manufacturers are increasingly focused on providing cheaper products and improving them with the aid of RFID printers. In addition, the increasingly growing speed at which printers operate is likely to fuel the growth of the global RFID industry. Such speed help to minimize RFID printers' maintenance and operating costs, thus raising the product lifespan. These are some of the factors that promote the growth of the global market for RFID printers.
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.
Segmentation:
The global RFID printer market share can be segmented on the basis of printer type, printing technology, applications and region.
Based on printer type, the market is segmented into industrial printers, desktop printers, and mobile printers.
By printing technology, the market is segmented into thermal transfer, direct thermal, and inkjet.
Applications catered by the RFID printer market include transportation and logistics, manufacturing, retail, entertainment, healthcare, government, and others. The manufacturing sector is expected to contribute the maximum revenue to the market owing to heavy investments. In addition, the need for RFID solutions for streamlining the supply chain is likely to bode well for the overall market growth.
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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