Global RFID Readers Market 2016-2020
Market outlook of the global RFID readers market
RFID readers play a critical role in inventory management and are finding tremendous response in many big stores, supermarkets, hypermarkets, and apparel stores. This market research report by Technavio emphasizes on the involvement of RFID readers in different end-user segments like healthcare, transportation, and retail. The increasing incorporation of RFID readers in these segments is expected to result in its impressive market growth rate of more than 21% by 2020.
The ability of RFID readers to reduce errors pertaining to data entry is a key driver for the growth of this market. With the introduction of RFID and barcode systems firms are able to record and recognize data entries automatically with more precision. It not only helps in the automation of data entries but also corrects warehouse errors. The ability of these readers to facilitate the efficient tracking of assets is a significant factor that is expected to foster its adoption during the forecast period.
End-user segmentation of the RFID readers market
Technavio Announces the Publication of its Research Report – Global RFID Readers Market 2016-2020
Technavio recognizes the following companies as the key players in the Global RFID Readers Market: Alien Technology, Honeywell, Impinj and Zebra Technologies
Other Prominent Vendors in the market are: Applied Wireless Identification Group, ThingMagic, Datalogic, RF Ideas, TSL, CAEN RFID, Cipher Lab, Fieg Electronics, Unitech, GAO RFID, and Mojix.
Commenting on the report, an analyst from Technavio’s team said: “The market for RFID readers is largely untapped, providing a huge opportunity for vendors. Vendors invest in R&D to provide customers with unique, secure, and low cost RFID system. This bodes well for the market.”
According to the report, real-time tracking of goods through the supply chain with RFID helps improve customer service. Real-time information on delivery time helps organizations make strategic decisions on improvising customer service. It helps the end-customers track the order via the Internet. RFID technology allows customers to track the goods sent through delivery service providers such as DHL, FedEx, and Blue Dart. Post offices have also employed this technology to improve their customer service.
Further, the report states that manufacturers and end-users in Africa, the Middle-East, and some parts of APAC are not aware about the RFID technology, and continue to rely on older technologies such as barcodes. In addition, several end-users are not receptive to change since it would involve overhauling the existing system. The high costs of the RFID systems also hinder their adoption on a large scale.
Alien Technology, Honeywell, Impinj, Zebra Technologies, Applied Wireless Identification Group, ThingMagic, Datalogic, RF Ideas, TSL, CAEN RFID, Cipher Lab, Fieg Electronics, Unitech, GAO RFID, Mojix.