A New Market Study, titled “RFID Printer Market Upcoming Trends, Growth Drivers and Challenges” has been featured on Market Research Future.
A per the report by MRFR, the global RFID Printer market is expected to secure approximately USD 4.82 billion by the end of 2023 with 4.90% CAGR during forecast period 2017-2023.
An growing demand for the use of electronic printing and ink technology is mainly responsible for propelling the global market for RFID printers. Main RFID technology manufacturers are printing cheap tags according to end-user specifications, thus giving the industry a big boost too. These are some of the factors that are expected in the near future also to support growth in the RFID printer market. In addition, with the launch of the RFID laser printing technology , the demand for RFID printers is showing promising growth. One of the main factors affecting the growth of the global RFID printer market is stepping up development in electro printing. Increasing smartphone use and the adoption of smart technology also propel expansion at a healthy pace in the global RFID printer market.
In addition, key manufacturers concentrate largely on offering and improving less expensive products with the help of RFID printers. In addition, rapidly rising speeds at which printers work are likely to also propel the growth of the global RFID market. Such speeds help lower RFID printer maintenance and operating expenses, thereby enhancing product lifespan. These are some of the factors which support the growth of the global market for RFID printers.
An growing demand for effective and improved inventory management systems that can help track and forecast overall raw material outflows as well as stockpiling and various other procedures is also driving growth on the global market for RFID printers.
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The global market for RFID printers can be bifurcated by type of printer, printing technology, applications and area. The market is segmented into Industrial printers, desktop printers, and mobile printers based on the type of printer. The market is segmented into the thermal transfer, direct thermal and inkjet technology based on printing technology. The RFID printer applications cover manufacturing, retail, transportation and logistics, healthcare , government, entertainment, and others.
Over the forecast period 2017-2023 the global market for RFID printers is expected to grow significantly. The global marketplace of the RFID Printer segment is driven by growing demand of electronic devices. Technological advancements in consumer electronics such as television, microwave, smartphones, and fitness trackers are expected to grow the market in recent years.
The global market for RFID printers segmented into four major regions, including North America, Asia-Pacific , Europe and the rest of the world. In terms of revenue, Asia Pacific region holds the largest share of the total RFID printer market. Technology-enabled capabilities and high competition between online and traditional retailers show tremendous growth in industry retail. Asia-Pacific digital retail sales are growing more rapidly due to the improving economies in China , India and Indonesia. China accounted for around 40 per cent of global ecommerce retail revenue in 2015. Ecommerce is the key driving force behind the rise of overall Asia Pacific retail sales. Number of retailers target digital infrastructure adoption. Moreover, due to safety issues, excess stock, customer service, ordering product information, increasing demand for RFID printers, the need to improve inventory management is increasing.
North America displays the largest share of the overall market due to the introduction of new technology and the existence of a large retail chain. Last year Asia Pacific had been closely followed by North America. Zebra Technologies Corporation, Honeywell International Inc., Avery Dennison Corporation, are some leading industry participants located in U.S.
The key players in the global RFID Printer market include- Wasp Barcode Technologies, Zebra Technologies Corporation, SATO Holdings Corporation, Avery Dennison Corporation, Honeywell International Inc., Toshiba Tec Corp., Dascom, Seiko Epson Corporation, TSC Auto ID Technology Co., Ltd, Postek Electronics Co., Ltd. and Godex International Co. Ltd. among others.
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