RFID Printers Market is Anticipated to Expand at a CAGR of 7.25% by 2031

29 Aug 2018

The global RFID printers market is anticipated to grow at a CAGR of 7.25% during the forecast period of 2024 to 2032, from $1,660 million in 2021. RFID is one of the most revolutionary asset tracking and inventory management technologies utilized in a variety of industries, including retail, transportation, supply chain management, industrial manufacturing, healthcare, and others. RFID printers have achieved great popularity over time due to the escalating adoption of RFID technology. RFID printers are designed for high-volume printing/encoding applications, hence reducing time. Hence, these printers are ideally suited for usage in warehouses and manufacturing facilities where vast quantities of inventory and materials must be maintained. Smart packaging's increasing popularity is a major factor driving the global RFID printer market. As RFID technology gradually replaces barcodes, the market is anticipated to continue demonstrating robust growth over the forecast period.

The increase in the installation of barcode printers and RFID readers in manufacturing facilities as a means of boosting productivity, limiting the effects of covid-19, and enhancing inventory management is a significant driver driving the market's progress. Radiofrequency identification technology has gradually replaced inefficient and time-consuming human processes in order to save time and automate the identification of objects, as well as to collect data and improve data accuracy. This technology is utilized for inventory and asset management. RFID printing technique employs electromagnetic fields in a non-contact, wireless method for the purpose of identifying and tracking tags affixed to items. It can scan tags up to 30 feet away without a direct line of sight utilizing ultra-high frequency, preventing covid-19 from occurring. Due of the benefits provided by these printers, they can be used in a range of applications, which is driving the market's expansion.

By utilizing RFID labels or tags, retailers may more effectively regulate their printing needs. RFID printers are designed to accommodate both front- and back-of-store printing tasks, as well as the requirements of online and e-commerce retail applications. Retail businesses employ labels and tags to improve in-store asset management and timely delivery of products to customers, both of which contribute to improved levels of customer satisfaction. RFID printers are used in retail for identifying products and attaching price tags, printing shelf tags, inventory merchandise, and receipts, creating promotional and store branding materials, printing on-demand labels for shipping applications, and printing promotional coupons and forms for marketing purposes.

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In terms of product, the Industrial RFID printers market dominated the market in 2023 and is anticipated to maintain its dominance throughout the forecast period of 2024 to 2032. RFID tags are capable of storing a vast array of data, which not only enables manufacturers to utilize that data in a variety of ways but also expedites and optimizes the production process as a whole. The production process can be made more adaptable across a wide range of categories; the automotive industry, for instance, is known for its significant use of RFID technology to improve every aspect of its business operations. RFID Printers can provide value to applications even if printing is not necessary due to the amount of time they save during the encoding process. Industrial printers are capable of printing at speeds of up to 14 inches per second in some procedures. This translates to somewhat more than six 2-inch tags every second (including breaks).

In terms of frequency, high-frequency RFID printers dominated the market in 2023. The high-frequency band is capable of accommodating frequencies between 3 Megahertz (MHz) and 30 MHz. As a result, high-frequency RFID systems operate at a frequency of around 13.56 MHz. In general, high-frequency systems are only moderately susceptible to interference from radio waves. Also, HF bands can operate normally in humid settings. In comparison to low-frequency (LF) RFID technology, high-frequency (HF) RFID is more advanced. The HF tag for hard environments and metallic objects is appropriate for rough-service applications due to the fact that the inlay is enclosed and protected from harsh conditions, and the tag can function properly when mounted directly to metallic objects. In addition, the tag is encased in a housing that is impervious to liquids and chemicals. It is suitable for use on metallic objects, such as carts, where the tag may be exposed to wet, hot, and cold conditions. Also, it is appropriate for permanent mounting on a variety of media types.

Direct thermal printing processes for RFID printers dominated the market in 2023, generating the most revenue. Direct thermal labels provide several advantages over ordinary printers and copy paper, including being faster, more accurate, requiring no ink cartridges, being more cost-effective, and providing a higher level of dependability. This characteristic of thermal printers is possible due to the absence of a ribbon with a connected print head that moves back and forth across the paper. Instead, they utilize a print head that provides heat directly to the thermal label's surface as it is being printed. In large-scale applications, such as the printing of hundreds of shipping labels, the speed of a thermal printer and thermal labels is crucial. This is especially true for applications on a big scale. With thermal labels, one hundred shipping labels might be printed in a matter of minutes. Using an antiquated printer would take several hours.

Asia-Pacific dominated the RFID printer market in 2023, accounting for about 40 percent of the global market's total revenue. Asia-Pacific has the world's largest retail sector, which has grown by around 7% annually since 2015. Substantial expansion in the region's e-commerce and transportation & logistics sectors is anticipated to result in significant demand for RFID solutions over the projection period. The warehousing and logistics industry in India, for example, is increasing at a rate of more than 10 percent annually. Similarly, the warehouse & logistics industry in China is among the largest in the world, yet its operations are highly inefficient. Asia-Pacific is anticipated to maintain its leading position during the projection period due to the aforementioned causes. Asia-Pacific is followed by North America and Europe in the global RFID printers market.

The market for RFID printers is quite competitive, with a number of notable competitors that are both Barcode and RFID-specialized. Market participants utilize growth strategies such as product innovation, alliance building, and mergers and acquisitions in order to expand their market presence. Many of the leading manufacturers of RFID printers are contemplating substantial investments in product launches, innovation, and corporate expansions in order to extend RFID printer applications. To attract a broader clientele, players are also focusing on ensuring safety, quality, and customer satisfaction with the use of printing technology. This action is taken to expand the customer base. Major RFID printer market participants include Zebra Technologies Corporation, Sato Holdings Corporation, Honeywell International Inc, Toshiba Corp., Avery Dennison Corporation, Seiko Epson Corporation, Dascom, Printronix Auto ID, and ID Technology LLC. The market is currently controlled by leading firms and is thus moderately consolidated. Throughout the projected period, additional market entrants are anticipated, particularly in developing economies such as APAC, LATAM, and the Middle East.

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