North America Rfid Readers Market Forecast 2021-2028
The North America RFID readers market is anticipated to project a CAGR of 8.25% during the forecast years of 2021 to 2028. The market growth of the region is attributed to the increasing adoption of automation across multiple applications, the developing retail sector, and the well-established presence of leading retailers.
The North America RFID readers market growth analysis includes the assessment of Canada and the United States. In 2020, retailers’ sales in Canada accounted for nearly 6060 billion Canadian dollars, indicating a decrease from 615 billion, or 1.5% in the previous year. The country’s retail trade industry continually progressed between 2012 and 2019. Although retail sales trade augmented by 1.6% from 2020, the percentage declined by around 1.5% amid the novel coronavirus (COVID-19) pandemic.
On the other hand, motor vehicle and parts dealers’ retail sales in Canada depreciated by approximately 9% in 2020, while new car dealers, accounting for 20% of the overall retail sales, declined by around 12%. In contrast, retail sales across other divisions, including garden equipment suppliers, supermarkets, and building materials, were positively impacted in 2020. Besides, sales in grocery stores and supermarkets rose by 12% since they were highly essential at the beginning of the pandemic. Furthermore, with customers spending more time at home, sales in garden equipment as well as building material elevated substantially. As a result, these factors are estimated to propel the market growth in North America over the forecasting period.
Some of the key players operating in the market are CAEN RFID, Lowry Solutions, Applied Wireless Identifications Group Inc, Impinj, etc.
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