Dublin, Dec. 18, 2023 (GLOBE NEWSWIRE) — The “RFID Readers – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
Global RFID Readers Market to Reach $24.3 Billion by 2030
The global market for RFID Readers estimated at US$9.6 Billion in the year 2022, is projected to reach a revised size of US$24.3 Billion by 2030, growing at a CAGR of 12.3% over the analysis period 2022-2030. Handheld, one of the segments analyzed in the report, is projected to record 9.6% CAGR and reach US$12.3 Billion by the end of the analysis period. Growth in the Fixed segment is estimated at 15.9% CAGR for the next 8-year period.
The U.S. Market is Estimated at $2.8 Billion, While China is Forecast to Grow at 15.6% CAGR
The RFID Readers market in the U.S. is estimated at US$2.8 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$5.2 Billion by the year 2030 trailing a CAGR of 15.6% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 9.5% and 11.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 11% CAGR.
Key Market Trends & Drivers
- Digital Transformation Drive Augurs Well for Growth of RFID Readers Market
- Potential of RFID in IoT Promises Future Opportunities
- Strong Smart City Investments to Fuel Large-Scale Adoption
- Number of Smart Cities Worldwide by Geographic Region (2025)
- Transportation & Logistics: Major Consumers of RFID Readers
- Focus on Smart Transportation to Enhance RFID Demand
- Connected Cars Emerge to Accelerate the Smart Transportation Drive
- RFID Readers Augment Vehicle Telematics
- Widening Use Case of RFID Readers in Healthcare Sector
- Growing Relevance of RFID in Hospitality Sector
- Rising Uptake in Retail Sector Augurs Well
- Food & Beverage: A Fast Growing End-Use Sector
- Increased Acceptance in Manufacturing Settings to Underpin Market Expansion
- Industry 4.0 & Smart Factory Augment the Business Case for RFID Readers
- Major Industry 4.0 Technologies: Global Market Size (US$ Billion) for Internet of Things (IoT), Big Data, Smart Factory, Advanced Analytics, Service Robotics, and Smart Machines for 2020
- Agricultural Industry’s Shift towards AgTech & Precision Agriculture Extend Opportunities
- RFID-based RTLS for Improved Livestock Tracking
- RFID Readers Gain Traction in Security & Access Control Applications
- NFC-RFID Combination Seeks Role
- Technology Advancements & Innovations
Select Companies Profiled in the Report
- Denso Corporation
- Datalogic SpA
- Alien Technology
- Denso Wave, Inc.
- CAEN RFID Srl
- GAO RFID, Inc.
- Extronics Ltd.
- Bluebird Inc.
- DAILY RFID CO.,LIMITED
- ELA Innovation
- 1st Choice Security Solutions, Inc.
- AsReader, Inc.
- Competition Electronic (Zhuhai) Company Limited
- Element ID, Inc.
- Bright Life
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and trademarked research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 421 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $9.6 Billion |
| Forecasted Market Value (USD) by 2030 | $24.3 Billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
Key Topics Covered:
1. MARKET OVERVIEW
- Impact of Covid-19 and a Looming Global Recession
- COVID-19 Leaves the World in Shambles & Industries and Markets Upended: World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
- Industrial and Commercial Activity Remains Subdued, Inducing Weakness into RFID Technology Market
- Global PMI Index Points for the Years 2018, 2019 & 2020
- COVID-19 Pandemic Effect on Key End-Use Sectors
- Percentage of Companies Impacted by Supply Chain Delays Due to COVID-19 Worldwide as of August 2020
- Radio Frequency Identification (RFID): A Prelude
- An Introduction to Radio Frequency Identification (RFID) Readers
- Global Market Prospects & Outlook for RFID Readers
- Analysis by Type: Handheld Readers Segment Leads the Market
- World RFID Readers Market by Type (2020 & 2027): Percentage Breakdown of Sales for Handheld, and Fixed
- Transportation & Logistics End-Use Industry to Spearhead Market Growth
- World RFID Readers Market by End-Use (2020 & 2027): Percentage Breakdown of Sales for Transportation & Logistics, Retail, Healthcare, Food & Beverages, Hospitality, Government, and Other End-Uses
- Regional Analysis: Developed Regions Lead RFID Readers Market, Developing Nations Promise Future Growth
- World RFID Readers Market by Region (2020 & 2027): Percentage Breakdown of Sales for Developed and Developing Regions
- Global RFID Readers Market: Geographic Regions Ranked by CAGR (Value) for 2020-2027: China, Asia-Pacific, Latin America, Middle East, Canada, USA, Africa, Europe, and Japan
- Competitive Scenario
- Recent Market Activity
- Select Global Brands
- RFID Readers – Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/lr5ojb
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