Radio Frequency Identification (RFID) is a specific technology that incorporates the electromagnetic fields in radio frequency section of the electromagnetic spectrum for identifying an animal, object, device or person. RFID system comprises of three key components such as RFID tags, RFID reader, RFID software and middleware. RFID reader is a precise device, which is used to interrogate the RFID tag. Antenna of RFID reader emits the radio waves to communicate with radio tags that store the specific information about any object/item. This information provides the identification for an item, original storage location & history and proof of ownership.
Referring to study, “Europe RFID Readers Market 2020-2026 by Product Type, Frequency Band, Connector Type, Operating System, Application, and Country: Trend Forecast and Growth Opportunity” few of the renowned companies operating in the Europe RFID readers market include Feig Electronics GmbH, Invengo Technology Pte. Ltd., Zebra Technologies Corporation, Alien Technology Corporation, Impinj, Inc., Technology Solutions UK Ltd. (TSL), Honeywell International Inc., Xerox Corporation, CipherLab Co., Ltd., Datalogic S.p.A., Nedap N.V., Datalogic S.p.A, GAO RFID, Inc., Daily RFID Co. Limited, Bright Alliance Technology Limited and among others. Leading industry players are engaging in various strategic acquisitions including product launches, Research & Development (R&D), agreements, application dominance, and collaborations to gain the market share.
On the basis of connector type, Europe RFID readers market is categorized as USB, Bluetooth, PC interface, Ethernet and wireless connector type. On the basis of product type, market is categorized as handheld RFID readers and fixed or wall mounted RFID readers. On the basis of frequency band, market is categorized as low frequency, high frequency and ultra-high frequency. On the basis of application, market is categorized as military & aerospace, e-payments, asset tracking, materials handing & logistics and identification & security. Additionally, on the basis of operating system, market is categorized as Media Access Control (MAC), android and windows.
Rise in demand for RFID systems in transport & healthcare sectors, followed by increase in acceptance in retail sector, growth in retail industry, improved warehouse & data center management, increase in need for efficient supply chain management, rise in application in access control & security and integration of new technologies are some major factors, which are responsible for growth of the Europe RFID readers market. Apart from this, issues in scanning the tags by the readers, lack of standardizations and high cost of reading equipment may impact the market. Additionally, higher adoption rate of RFID technology and growth in number of partnerships between the organizations in order to develop an innovative product are key trends for market. Moreover, rise in demand from the manufacturing sector is a leading opportunity for market. Furthermore, lack of back end data management is a major challenge for market.
By country-wise analysis, the Europe region is segmented as UK, Germany, France, Italy, Russia, Spain and rest of the Europe. The UK, Germany, and France are few of the leading countries contributing to the overall growth. It is likely that future of the Europe RFID readers market will be optimistic owing to growth in digitalization & industrialization and presence of key vendors during the forecast period.
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Ankur Gupta, Head Marketing & Communications