RFID Readers Market to Surpass 21% Growth to 2020 Dominated by Retail Sector

Dec 18, 2015, 01:00 ET from ReportsnReports

PUNE, India, December 18, 2015 /PRNewswire/ --

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.

Complete report on RFID Readers Market spread across 47 pages, analyzing 4 major companies and providing 18 data exhibits is now available at http://www.reportsnreports.com/reports/447871-global-rfid-readers-market-2016-2020.html.

According to the Global RFID Readers Market 2016-2020 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.

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 the 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. Order a copy of Global RFID Readers Market 2016-2020 report @ http://www.reportsnreports.com/purchase.aspx?name=447871.

End-user segmentation of the RFID readers market: Retail, Transportation, Logistics and Manufacturing. The market research analyst estimates the retail segment to retain its dominating hold over the market by 2020. The growing need to improve inefficiencies in the supply chain is a critical factor that results in this segment's high market share of nearly 58% by 2020.

In this market research, analysts estimate the Americas to account for an impressive market share of more than 51% by 2020. The introduction of stringent mandates that necessitates the usage of RFID devices in various sectors like transportation and healthcare is expected to impel market growth during the forecast period.

The global RFID readers market is highly fragmented due to the presence of numerous large and small vendors. The competitive environment in this market is expected to intensify during the forecast period owing to factors like the increase in R&D innovations by vendors and the expansion of key vendors into the APAC region.

The following companies are the key players in the Global RFID Readers Market are 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.

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.

Explore other new reports on semiconductor and electronics market at http://www.reportsnreports.com/market-research/semiconductor-and-electronics/.

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