The RFID Printers Market is expected to grow at a 7.2% CAGR during the forecast period, from US$ 1,745.4 Mn in 2022 to US$ 2,654.4 Mn by 2028.
RFID (Radio Frequency Identification) labels are widely used, particularly in retail. The increase is due to an increase in the rate of adoption of RFID printing technology using special RFID printers. With the increased reliance of various end-use sectors on RFID labels, the global market for RFID printers is expected to grow in the coming years.
RFID Printers Market: Retail Industry Will Lead
The global RFID printers market is expected to grow at a rapid pace, owing to a clear indication of industries’ increasing reliance on RFID tags. RFID tags are increasingly being used to track finances and products in a variety of industries, including banking and healthcare. RFID tags are becoming more popular due to the benefits they provide, such as being less expensive because they lack a silicon chip and do not require maintenance, being used in banking cards and e-passports, and so on.
According to FMI market research, the retail industry is expected to have the highest value share in the global RFID market and to proliferate in the coming years, with a 9.0% CAGR during the forecast period. The market in China is also expected to have better growth prospects and to grow at a faster rate than in other parts of the world.
RFID Printers Market: Competitive Environment
This comprehensive report highlights the market’s key players who have remained strong and competitive in the global market. Honeywell International, SATO Holdings, Toshiba Tec Corporation, Avery Dennison Corporation, Lexmark, and GODEX INTERNATIONAL are among the leading companies included in the report. The coming years are expected to reveal more innovation by companies in the global RFID printers market to form a strong marketing strategy.
