RFID Printer Market Outlook and Future Scope Analysis and Forecast Till 2027
Posted by shweta raj on May 19th, 2021
An RFID printer is mostly used for creating RFID smart labels. The RFID printers are mostly used for radiofrequency technology so that they can transmit information to the users. This printer is mostly used to add digital functionality to the images by embedding the label into the different types of print formats. The RFID labels are widely popular in the industry because of the huge use in the number of applications. This is used in multiple industries for creating tags and labels. The RFID Printer Market Size is continuously growing because of multiple reasons. It saves time and extra cost.
By implementing this device, an industry can minimize its manpower. Many factors bring this market to the top level, and those are the growth of the e-commerce industry, the improvement which needs inventory management. Because of the rapid growth in technology, the market for RFID Printers is continuously blooming. There is some amazing scope of the RFID Printer in the upcoming future as per the report. The labels are printed in different sizes and are also used for printing the different labels. The RFID Printer Market Size report offers an overall insight into the supply chain's detailed information, key developments, and the future strategies that drive the market.
According to the report, technological advancement, tracking various manufacturing units, managing and optimizing the asset are some major factors of the driving market. Besides this, the growing demand in the healthcare sector also expected growth in this industry for the upcoming forecast period. Along with this, the growing adoption of the transportation sector also makes a positive impact on the industry. But there are also some market restraints that affect the market growth, and those are the high cost of RFID solutions. So, according to the global market report, the RFID Printer Market Share is expected to reach up to a CAGR of 5.65% during the forecast period, 2020-2027.
The Global RFID Printer Market is segmented into three segments and which are industrial printers, mobile printers, and desktop printers. Among these three segments, the industrial printer holds the largest market share. In 2018 the RFID Printer Market Share reported holding a value of up to USD 1,709.4 million. These are highly popular in the market because of its features like durability, longevity and it is manufactured in such a way so that they can withstand in any situations. It allows users to produce up to 10,000+ tags per day. At the same time, the Desktop RFID printers are flexible, parallel, and highly intuitive. It has the capability to produce up to 1,000+ tags per day. Mobile printers have the power to produce200+ tags per day, and it is used for pick and pack tagging, markdown tagging, and cross-docking.
The Global RFID Printer Market is also segmented on the basis of region. It is segmented into Europe, North America, Asia-Pacific, and the rest of the world. Among all of them, the Asia-Pacific countries hold the largest market share, which is counted up to 1,310.3 million in 2018. According to the market report, there is an expected rise of the market up to 6.70% in the forecast period. After this, North America was listed as the second-largest market in 2018. Along with this, Europe and the rest of the world are expected to acquire the third position.
Due to the COVID-19 pandemic, the market of the global market of RFID Printer has been impacted. The investors and key players have gone through multiple barriers. Well, because of the government and key players of the market, the industry is still working by finding out new ways to improve the demand.
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About the Authorshweta raj
Joined: July 2nd, 2020
Articles Posted: 481
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