Quadintel published a new report on the RFID and Barcode Printer Market. The research report consists of thorough information about demand, growth, opportunities, challenges, and restraints. In addition, it delivers an in-depth analysis of the structure and possibility of global and regional industries.
Global RFID and Barcode Printer Market is valued approximately USD $$ billion in 2021 and is anticipated to grow with a healthy growth rate of more than $% over the forecast period 2022-2030.
Radiofrequency identification (RFID) is a wireless system that includes two components: reader and tag. A reader is a gadget that comprises one or more antenna radio waves and accepts signals back from the RFID tag. The data is received and sent with the system that entailing an RFID tag.
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Moreover, the barcode is a machine-comprehensible code that includes number and parallel lines pattern of different widths that are printed on a product and distributed to, particularly stock control. The growing installation of RFID and barcode systems in manufacturing units to boost productivity, growth of the e-commerce industry, increasing need for improvement in inventory management are the primary factors that are accelerating the market growth. In addition, increasing demand for mobile printers based on wireless technologies, coupled with the rising need for RFID and barcode printers in various applications is further propelling the market demand globally. For instance, according to the India Brand Equity Foundation (IBEF), in India, the e-commerce sector has been recorded with USD 52.57 billion in 2020 and the amount is projected to grow and reach USD 350 billion by 2030.
Accordingly, the growth of the e-commerce industry is bolstering the adoption of the RFID and barcode printer to create a unique identity on the product, which, in turn, augments the market growth across the globe. However, stringent printing regulations and poor image quality of barcode labels impede the growth of the market over the forecast period of 2022-2028. Also, the rising use of RFID and barcode printers in the supply chain industry and the surging demand for RFID and barcode printers in hospitals is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global RFID and Barcode Printer Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to increasing technological developments, as well as the presence of well-established market players. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as the thriving growth of the e-commerce sector, rising application of RFID and barcode printers across various sectors, and growing need for efficient supply chain management, would create lucrative growth prospects for the RFID and Barcode Printer Market across the Asia-Pacific region.
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Major market players included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
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Furthermore, years considered for the study are as follows:
Target Audience of the Global RFID and Barcode Printer Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
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The global market is forecast to witness a rapid growth, owing to increasing demand for technological advancements from end-users. Moreover, increasing investments in research and development activities, launches, partnerships, and other strategic initiatives will benefit the market. Furthermore, the growing focus of authorities towards increasing urbanization and industrialization is forecast to drive the market growth.
What is the key information extracted from the report?
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