RFID Printer Market is Demand for Smart Packaging to Boost Growth Upcoming Years

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global RFID Printer Market. 

Market Overview

Radiofrequency identification (RFID) has transformed the way of identifying objects and living things. It relies on electromagnetic fields to pinpoint tags attached to objects. This can be used to discern the location of objects within a certain range. RFID printers can print out data to RFID chips which are embedded in labels. The global RFID printer market report by Market Research Future (MRFR) covers its scope in various industries and its implication in top regions.

Market Scope

The global RFID printer market size is poised to reach USD 4.82 billion by 2023, according to MRFR. It is driven by the need for labels for identification of objects. Its application in inventory and warehouse management is expected to bolster market demand exponentially. Adoption of RFID tags in manufacturing, logistics, healthcare, and transportation is likely to result in the market expanding at 4.90% CAGR from 2017 to 2023 (forecast period).

The boom in the healthcare sector can be attributed to adoption of technology as well as rise in patient numbers. RFID printers have played a major role in protecting hospital equipment as well as tracking patient movements. For instance, IntelligentM has produced RFID tags embedded in wristbands of hospital staff for tracking their hygiene movements. This is used as a preventive measure for protecting patients and hospital staff and taking appropriate measures in case of infections. Penetration of internet of things (IoT) has acted as a catalyst with smart homes being the next big application for the RFID printer market.

High costs of RFID printers and availability of barcode printers are challenges faced by the market.

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Industry Buzz

The logistics sector is in the midst of a transformation with the high need for smart packaging solutions. In 2019, HP Brazil has introduced labels and other printed materials which can be pasted on objects and tracked with the help of a smartphone application. This is expected to create transparency between retailers and distributors and foster trust. It can also be used in pinpointing problems or delays during transport of materials.

Segmentation

The global RFID printer market can be segmented on the basis of printer type, printing technology, applications and region.

Based on printer type, the market is segmented into industrial printers, desktop printers, and mobile printers.

By printing technology, the market is segmented into thermal transfer, direct thermal, and inkjet.

Applications catered by the RFID printer market include transportation and logistics, manufacturing, retail, entertainment, healthcare, government, and others. The manufacturing sector is expected to contribute the maximum revenue to the market owing to heavy investments. In addition, the need for RFID solutions for streamlining the supply chain is likely to bode well for the overall market growth.

Key Players

Prime players include Avery Dennison Corporation, Dascom, Postek Electronics Co., Ltd., Zebra Technologies Corporation, Toshiba Tec Corp., Seiko Epson Corporation, TSC Auto ID Technology Co., Ltd, Honeywell International Inc., SATO Holdings Corporation, Wasp Barcode Technologies, and Godex International Co. Ltd.

Acquisitions, mergers, and investments in research and development are some of the strategies incorporated by these players to gain a larger market share.

Regional Outlook

Asia Pacific (APAC) is expected to exhibit a robust growth rate owing to demand from countries such as China, India, and Japan due to rapid industrialization. Strong economic growth coupled with emergence of various small and medium businesses is projected to drive regional market growth. Online sales and the humongous growth in the ecommerce sector is expected to trigger demand in the RFID printer market.

North America is touted to be the second-best performing region due to constant trade and the need for logistics to transport goods safely. Consumer shopping patterns have pushed the growth of retail stores, which in turn have called for the need of RFID printers. Novel product developments have pushed the envelope as evident with the launch of ZT600 and ZT510 series of printers which can deliver in the harshest industrial environments.