New York, US, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Market Analysis:
According to a comprehensive research report by Market Research Future (MRFR), the Global “RFID Printer Market” Information by Type, by Price Range, by Printing Technology, By Frequency, by Application, by Region - Forecast till 2027”, market size is predicted to grow at a 5.65% CAGR in the forecast period (2020- 2027).
Zebra Technologies Corporation
Sato Holdings Corporation
Honeywell International Inc
Avery Dennison Corporation
Seiko Epson Corporation
TSC Auto ID Technology Co., Ltd
Postek Electronics Co., Ltd
GODEX International Co. Ltd
OKI Data Americas, Inc
PRINTRONIX AUTO ID
Miles Data Technologies
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RFID Printer Market Drivers:
Growing Demand for Healthcare Sector to Boost Market Growth:
The growing demand for RFID printer from the healthcare sector for proper management of records and documents regarding patient will boost market growth over the forecast period.
The RFID printer market is fragmented and also competitive for the presence of different international & domestic key players. These players have incorporated innovative strategies to remain at the vanguard and also suffice the burgeoning demand of the customers including collaborations, contracts, partnerships, joint ventures, geographic expansions, & new product launches, and more.
Demand for Use of Ink Technology and Electronic Printing to offer Robust Opportunities:
The growing need for utilization of ink technology and electronic printing will offer robust opportunities for the market over the forecast period. Key manufacturers of the RFID technology are printing cheap tags as per the need for end users, hence offering a good impetus to the market too.
Restraints and Challenges:
High Cost to act as Market Restraint:
The high cost of RFID solutions may act as market restraint over the forecast period.
Browse In-depth Market Research Report (194 Pages) on RFID Printer Market:
The global RFID printer market has been segmented based on application, frequency, printing technology, price range, and type.
By price range, the USD 2,001-USD 4,000 segment will lead the market over the forecast period.
By printing technology, the thermal transfer segment will dominate the market over the forecast period. Thermal transfer is a digital printing technique where the ink material is applied to the tag by melting a portion of the ribbon.
By frequency, the high frequency (HF) segment will spearhead the market over the forecast period.
By application, the manufacturing segment will have the lions share in the market over the forecast period. Manufacturing facilities utilize RFID printers for marking serial numbers, date, time, tags, and QR codes on cases.
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APAC to Sway RFID Printer Market:
The APAC region will sway the market over the forecast period. It will reach USD 5,804.9 million at a 5.65% CAGR by 2027. Huge consumer base, developing transportation infrastructure, the presence of major manufacturers operating in developing economies like China, India, and others, and manufacturers approach to track and manage their assets are adding to the global RFID printer market growth in the region.
North America to Have Significant Growth in RFID Printer Market:
North America will have significant growth in the market over the forecast period. The presence of a well-established economy which encourages increased government and private investments in new technologies, increased adoption of RFID printers in healthcare, transportation, and manufacturing industries, and the region being the largest contributors to the RFID are adding to the global RFID printer market growth in the region.
The COVID-19 outbreak has imposed an additional challenge upon several thriving businesses in 2020. As the majority of the countries across the world went into lockdowns, the transport industry was badly disrupted during the period. Lack of human workforce, disruption in the manufacturing units, and reduced investments in the industries has posed a critical situation for several companies. The COVID-19 took a hit on the RFID printer manufacturers too.
The RFID printing industry depends completely on the performance of the manufacturing growth of the core industries. More the materials and goods will be put for distribution, more the need for bar code identification for them. RFID printers and readers are useful only when the logistics and distribution channels are working fine. So the pandemic did possess a noticeable effect on the market. After the release of lockdowns there has been a rapid discovery in the business.
A manufacturer of POS, label, and mobile printer manufacturer Bixolon Europe, a subsidiary of Bixolon has added XD5-40tR and XT5-40nNR to its growing RFID label printer line-up. Building upon their current RFID change, the addition of these two highlights Bixolon’s ongoing commitment of offering cutting edge technology for satisfying the growing demands of the European market. Such high performance, durable printing solutions provide low to high volume mission critical RFID labeling for a range of applications.
Researchers from the Swinburne University of Technology have created a novel 3D printed polymer-liquid hybrid RFID (radio frequency identification) antenna. The researchers have specifically designed their tag to be used within embedded systems, thus potentially making it perfect for chemical or biological monitoring applications.
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