The overall RFID printers market is expected to demonstrate a CAGR of 7.25% during the forecast period of 2024 to 2032, up from US$ 1660 Mn in 2021. RFID is one of the most revolutionary technologies used for asset tracking and inventory management across numerous industries including retail, transportation, supply chain management, industrial manufacturing, healthcare, and several others. With the continually increasing penetration of RFID technology, RFID printers have gained immense demand over the period. RFID printers are designed for mass printing/encoding applications with significant speed, thereby saving time. Thus, these printers are highly suitable in warehouses and manufacturing plants where large volumes of inventory/material need to be managed. The overall RFID printers market is highly driven by the rapidly growing inclination toward smart packaging. With RFID technology steadily replacing barcodes, the market is set to continue exhibiting promising growth over the forecast period.

Increase in the number of RFID and barcode printers being installed for the purpose of improving inventory management

The rise in the installation of barcode printers and RFID readers in production facilities as a means of boosting productivity and mitigating the impact of covid-19 and improving inventory management is a major factor driving the expansion of the market. To reduce time and automate the identification of things, as well as to gather data and boost data accuracy, radio frequency identification technology has been steadily replacing human operations that are inefficient and time-demanding. This technology is used for asset and inventory management. RFID printing technology makes use of electromagnetic fields in a wireless, non-contact manner for the purpose of identifying and tracking tags that are attached to objects. It can read tags without a direct line of sight up to 30 feet away using ultra-high frequency, which prevents covid-19 from occurring. Because of the benefits offered by these printers, they can be installed in a variety of applications, which is driving the expansion of the market.

Substantial increase in the number of retail businesses using RFID printers

Retailers can more easily control their printing requirements by making use of RFID labels or tags. RFID printers are built to handle printing activities at both the front and rear of stores, as well as to adapt to the requirements of online and e-commerce retail applications. Labels and tags are used in retail establishments to improve in-store asset management and delivery of products to customers in a timely manner, both of which contribute to higher levels of customer satisfaction. RFID printers are utilized in the retail setting for the purpose of identifying products and affixing price tags to them; printing shelf tags, inventory merchandise, and receipts; creating promotional and store branding materials; printing on-demand labels for shipping applications; printing promotional coupons and forms for marketing purposes.

Industrial RFID Printers Dominate the Market by Product

The Industrial RFID printers market dominated the market by product in 2023 and is expected to continue its dominance throughout the forecast period of 2024 to 2032. RFID tags are able to store a wide variety of data, which not only enables manufacturers to utilize that data in a variety of different ways but also helps expedite and optimize the production process as a whole. The production process can be made more adaptable across a wide variety of categories; for example, the automotive sector is notable for its extensive use of RFID technology to improve the complete operational side of its business. RFID Printers can bring value to applications even if printing is not required because they save so much time during the encoding process. In specific processes, industrial printers, for instance, are capable of printing at speeds of up to 14 inches per second. This equates to little more than 6 tags per second for 2-inch tags (including breaks).

High-Frequency Printers Dominate the Market by Frequency

High-frequency RFID printers dominated the market by frequency in 2023 with global revenues of US $927.5 Million. The high-frequency band has the capability of covering frequencies ranging from 3 Megahertz (MHz) to 30 MHz. As a consequence of this, high-frequency RFID systems run at a frequency of around 13.56 MHz. In general, high-frequency systems have a modest level of sensitivity to the interference caused by radio waves. Moreover, HF bands are able to function normally in humid environments. Compared to low-frequency (LF), high-frequency (HF) RFID technology is more advanced.The HF tag for harsh environments and metallic objects is suitable for rough-service applications because the inlay is encapsulated and protected from harsh environments, and the tag can work correctly when mounted directly to metallic objects. Additionally, the tag is mounted in a tough housing that is resistant to liquids and chemicals. It is appropriate for usage on metallic items, such as trolleys, where the tag is susceptible to exposure to wet, hot, and cold environments. Moreover, it is suitable for permanent mounting to various types of media.

Direct Thermal Printing Dominates the Market by Printing Technique

Direct thermal printing techniques for RFID printers dominated the market in 2023 by contributing to the largest revenue of US $1032.5 million in 2023. Direct thermal labels provide a number of advantages over standard printers and copy paper, including the fact that they are speedier, more precise, require no ink cartridges, are more cost-effective, and offer a higher level of dependability. The absence of a ribbon that has a print head attached to it and that goes back and forth across the paper makes this feature of thermal printers conceivable. Instead, they have a print head that delivers heat directly to the surface of the thermal label as it is being printed. In large-scale applications, such as printing hundreds of shipping labels, the speed of a thermal printer and thermal labels is particularly significant. This is especially true for large-scale applications. By using thermal labels, the printing of one hundred shipment labels would take only a few minutes. Using an old-fashioned printer would take a number of hours.

APAC Remains as the Global Leader

In 2023, Asia Pacific accounted for nearly 40% of the total market revenues generated worldwide, thereby dominating the RFID printer market. Asia Pacific possesses the largest retail sector across the globe, growing at approximately an annual rate of 7% since 2015. Rapid growth in e-commerce and transportation & logistics sectors in the region is expected to ensure robust demand for overall RFID solutions over the forecast period. For instance, the warehousing & logistics industry in India is growing with a growth rate of more than 10% year-on-year. Similarly, the warehousing & logistics industry in China is among the largest industry in the world, facing substantial inefficiencies in its processes. These factors collectively are expected to retain the dominant position of Asia Pacific during the forecast period. North America and Europe follow the Asia Pacific region in the global RFID printer market.

Market Competition to Intensify During the Forecast Period

The market for RFID printers is highly competitive and comprises a number of prominent competitors of both Barcode and RFID-specialized companies. In order to broaden their presence in the market, market participants implement growth methods such as product innovation, alliance formation, and mergers and acquisitions.  Many of the most important manufacturers of RFID Printers are considering making significant investments in product launches, innovation, and business expansions to expand application areas for RFID Printers. Players are also working on assuring safety, quality, and customer happiness with the help of printing technology in order to capture a larger client base. This is done in order to boost the consumer base. Key market players in RFID printers include Zebra Technologies Corporation, Sato Holdings Corporation, Honeywell International Inc, Toshiba Corp., Avery Dennison Corporation, Seiko Epson Corporation, Dascom, Printronix Auto ID, ID Technology LLC, and others. The market is currently dominated by top-tier companies and therefore, moderately consolidated. The market is expected to witness new market entrants especially in developing economies such as APAC, LATAM, and the Middle East during the forecast period.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of RFID Printers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the RFID Printers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of RFID Printers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the RFID Printers market?
• Which is the largest regional market for RFID Printers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving RFID Printers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the RFID Printers market worldwide?