Future Market Insights' analysts predict that the RFID Printers Market is likely to grow from USD 1,871.07 million in 2023 to USD 3,750.05 million by 2033. During the forecast period, the market is projected to expand at a CAGR of 7.2%.
RFID Printers Applications Promoting Growth in Several Industries
| Attributes | Details |
|---|---|
| RFID Printers Market CAGR (2023 to 2033) | 7.2% |
| RFID Printers Market Size (2023) | USD 1,871.07 million |
| RFID Printers Market Size (2033) | USD 3,750.05 million |
| Share of Top Five Market Players | 25% |
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The market is anticipated to grow by 2033 as a result of the growing demand for smart label printing for applications in inventory management and warehouse management. However, the market was expanding at a faster CAGR of 7.6% between 2018 and 2022.
RFID printers are printers that embed RFID labels into various print formats, adding unique digital functionality to images. In many instances, RFID technology can be combined with a barcode printer to allow a user to understand the data using both RFID and barcode technology.
Short-term Growth:
| Period | Short-term Growth |
|---|---|
| Market Value | 2023: USD 1,871.07 million 2026: USD 2,305.02 million |
| Growth Factor | Expansion during this time depends on the printers' capacity to offer high-quality label printing in large quantities over an extended length of time. |
Medium-term Growth:
| Period | Medium-term Growth |
|---|---|
| Market Value | 2027: USD 2,470.98 million 2030: USD 3,044.06million |
| Growth Factor | The constantly expanding trend towards smart packaging dominates the demand for RFID printers during this period. |
Long-term Growth:
| Period | Long-term Growth |
|---|---|
| Market Value | 2031: USD 3,263.23 million 2033: USD 3,750.05 million |
| Growth Factor | The retail industry's growing use of RFID printers is projected to create new business opportunities. |
Industrial RFID printers market has the key market share expectations; they account for 83.5% of the RFID printers sector as a whole. North America is the leading market, followed by Western Europe, according to Future Market Insights.
RFID printers help to write the data to RFID chips in smart labels with the help of RF encoders. In recent years, the adoption of direct thermal printing and RFID technology in manufacturing and warehousing facilities has been increased. As a result, RFID printers demand is surging during the forecast period.
The need for RFID tags has grown in the manufacturing and transportation sectors in order to manage, track, and optimize the assets, which is further fueling the RFID printers business growth.
Due to the necessity for specialized ink to print smart labels, the high cost of these printers represents the industry's main barrier. As the inks used in RFID printers are very expensive, printing tags for several products can be costly, increasing operating costs.
Key manufacturers are mostly focusing on providing less priced products and enhancing them with the aid of RFID printers for this reason. Also, the expansion of the global market is projected to be fueled by the increasingly accelerating printing rates.
These speeds extend the life of items by reducing the cost of RFID printer operation and maintenance.
Currently, the United States market anticipates the leading consumption of RFID printers in the North America region, and is expected to increase at the rate of 6.8% CAGR by 2033.
The United States witnessed significant growth in RFID Printers services owing to key technological advancements in transportation, logistics, retail, manufacturing, hospitality, and healthcare industries in the country.
The United States witnessed a strong presence of not only key market players such as Honeywell International, Zebra Technologies, and Avery Dennison Corporation, but also SMEs such as Primera Technology, Star Micronics, Wasp Barcode Technologies, and many more.
Thus, the presence of such key vendors across the country is set to register higher growth for the RFID printers sector during the forecast period.
Currently, the China market accounts for the leading consumption of RFID printers in the Asia Pacific region, and market size is expected to grow 1.6X by 2033. China's RFID printers sector anticipates to expand at the rate of 9% CAGR during the forecast period.
China witnesses significant development in RFID technology due to support, rules and regulation of the Chinese government. China witnessed large projects, such as subway & passport ticket applications and national identification cards. Thus, to get such projects, suppliers must need applications with advanced technologies.
It uses High Frequency (HF) RFID systems that use most of the RFID systems or RFID technology in China. Therefore, adoption of RFID technology by key suppliers in China is ultimately driving the growth for the RFID printers in the China market.
The United Kingdom market is set to report the leading consumption of RFID printers in the Europe region, and market size is expected to grow at a 1.5X rate by 2033. Moreover, the RFID printers in the United Kingdom market are expected to increase by around 7.2% CAGR over the forecast period.
The United Kingdom has been forecast to register a higher growth rate for RFID Printers owing to factors such as rising digital transformation, integration of RFID technology with IoT, and rising need for the efficient supply chain management.
Rising adoption of RFID printing technology like direct thermal and thermal transfer across the country is expected to drive the demand for RFID printers in the United Kingdom.
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The industrial RFID printers segment is anticipated to expand at a CAGR of 5.9% by 2033 and reach USD 2.69 billion by 2033. Industrial RFID printers are likely to rule the market in terms of product type.
Due to factors including the growing need for improved inventory management and efficiency, the demand for the industrial RFID printers segment is growing. The increased usage of smart labels and tags throughout the manufacturing sector has a positive impact on global revenue.
The use of retail commerce has grown, which has led to a rise in the use of RFID tags. As a result, many asset-intensive sectors around the world have a high need for industrial RFID printers.
The thermal transfer market is thought to be the most dominant one in terms of printing technology. The thermal transfer segment's size is anticipated to increase by approximately 1.3X in 2023. Over the anticipated period, this segment is anticipated to develop at a CAGR of 7.7%.
In thermal transfer, ink technology is used by melting a portion of the ribbon and applying it to the tag. Thermal Transfer RFID printers are used for high-volume printing applications, such as food packaging and shipping labels. Thus, the rising adoption of thermal transfer technology in RFID printers is expected to fuel market growth in the coming years.
The demand for the retail segment by industry is likely to dominate the RFID printers and is expected to increase at a leading CAGR of around 7.8%. Moreover, the manufacturing segment is anticipated to create an absolute dollar opportunity of USD 294.2 million from 2023 to 2033.
Retail industry is large, diverse, and one of the most prominent industries. RFID printers are used in the retail industry for applications such as gaining inventory visibility, garment tagging applications, and retrieving information about in-store activities.
Also, the demand for RFID printers has increased in recent years to maintain the data tracking inventories with the help of barcodes and RFID tags. Thus, the adoption of barcodes and RFID tags in the retail industry is expected to drive the demand for RFID printers.
| Key Company | Honeywell |
|---|---|
| Year | Feb-18 |
| Development | Honeywell introduced new cloud-based safety suite software and specialized electronic tags. The Honeywell Safety Suite software scans the RFID tags to track usage, maintenance, and training. It aids the business in expanding its selection of RFID printers. |
| Key Company | Avery Dennison |
|---|---|
| Year | Apr-17 |
| Development | Target and Avery Dennison have launched cooperation. Through this partnership, the business will deploy RFID technology to more than 1,600 outlets, maximizing inventory availability and enhancing the customer experience. |
| Key Company | Zebra Technologies |
|---|---|
| Year | Mar-15 |
| Development | For field-based applications, Zebra Technologies, a developer of RFID solutions, has introduced a line of mobile-based printers. These RFID printers are mobile print-on-demand devices with military-grade construction and straightforward operation for printing products for the manufacturing, government, transportation, and logistics sectors. |
In 2023, the market is expected to be worth USD 1,871.07 million.
The market is expected to continue growth at a 7.2% CAGR until 2033.
From 2018 to 2022, the global market advanced at a faster CAGR of 7.6%.
The market is expected to be around USD 3,750.05 million by 2033.
By 2033, the industrial RFID printers segment is expected to develop at a CAGR of 5.9%.
The thermal transfer segment is predicted to advance at a CAGR of 7.7% by 2033.
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