RFID Printer Market

Increasing demand for the utilization of electronic printing is driving market growth

The increasing demand for electronic printing and ink technology is mainly responsible for propelling the RFID Printer Market. Key manufacturers of RFID technology are printing cheap tags as per the requirement of end users, thus providing a significant impetus to the market too. These are some of the factors that are expected to support growth in the RFID printer market shortly too. In addition, the market CAGR for RFID printers demonstrates promising growth with the introduction of the RFID laser printing technology.

Moreover, key manufacturers are largely concentrating on offering less expensive products and improving them with the help of RFID printers. Furthermore, rapidly surging speeds at which printers work will likely propel the global RFID market's growth. Such speeds help lower the maintenance and operational expenses of RFID printers, consequently enhancing the lifespan of products. These are some of the factors bolstering the growth of the RFID Printer Market.

Increasing demand for efficient and better inventory management systems, which can help track and predict the overall outflow of raw materials, stockpiling, and various other procedures, is driving the growth of the global  RFID printer market revenue.

The Global RFID Printer Market Industry experiences a notable surge in demand driven by the need for efficient inventory management across various sectors. Retailers and manufacturers increasingly adopt RFID technology to streamline operations, reduce errors, and enhance visibility. For instance, companies utilizing RFID printers report up to a 30 percent reduction in inventory discrepancies. This trend is expected to contribute to the market's growth, with projections indicating a market value of 1.83 USD Billion in 2024, reflecting a growing recognition of RFID's potential in optimizing supply chain processes.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American RFID printer market will dominate, owing to major technological advancements in transportation, retail, manufacturing, logistics, and hospitality; healthcare industries will boost the market growth in this Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: RFID PRINTER MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's RFID Printer market accounts for the second-largest market share due to factors such as rising digital transformation, integration of RFID technology with the lot, and rising need for the efficient supply chain management. Further, the German RFID Printer market held the largest market share, and the UK RFID Printer market was the fastest-growing market in the European Region.

The Asia-Pacific RFID Printer Market is expected to grow at the fastest CAGR from 2023 to 2032. The need for improvement in inventory management across the globe and the increase in use for printing labels tickets and received in the hospitals, retail, and Healthcare Centre Sectors accelerate the market growth. Moreover, China’s RFID Printer market held the largest market share, and the Indian RFID Printer market was the fastest-growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development to expand their product lines, which will help the RFID printer market, grow even more. Market participants are also undertaking various strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The RFID Printer industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturer’s uses in the global RFID printer industry to benefit clients and increase the market sector. In recent years, the RFID printer industry has offered some of the most significant medical advantages. Major players in the RFID printer market, including General Mills Inc., Amway, Conagra Brands Inc., Cargill Incorporated, Abbott Laboratories, Kraft Foods Group Inc., and others, are attempting to increase market demand by investing in research and development operations.

TOSHIBA TEC CORPORATION is a Japan-based company mainly engaged in the development, manufacture, sale, and maintenance of office machinery and electrical machinery. The Company operates through two business segments. Toshiba Tec Corporation partnered with US-based Catalina to expand the reach of its data-driven marketing solutions for different brands and retailers in Japan.

Avery Dennison Corporation is a multinational manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, RFID inlays, and specialty medical products. The Company is a member of the Fortune 500 and is headquartered in Mentor, Ohio. AVERY DENNISON CORPORATION acquired US-based startup Zippy Yum, which sells hardware and software solutions for operational automation and inventory management.