RFID Reader Market to Reach $22.46 Billion by 2026

The fixed RFID reader segment is expected to register the fastest CAGR of 22.6% from 2019 to 2026, according to new research. This is largely attributed to the factors such as supply asset management, utilization and work-in-process (WIP) tracking, chain efficiency, improve in maintenance tracking, and drive efficient logistics.

Based on type, the ultra-high frequency (UHF) (860 MHz to 960 MHz) segment accounted for more than two-fifths of the global RFID reader market revenue in 2018, and is anticipated to retain its dominance during 2019–2026.

Simultaneously, the high frequency (13.56 MHz) segment is anticipated to register the fastest CAGR of 14.7% by the end of 2026. This is due to the increase in demand for the high frequency RFID reader, because of its features like patient flow tracking, ticketing, tracking library books, and data transfer applications.

Based on geography, North America generated the highest share in 2018, holding more than one-third of the global RFID reader market. This is due to increase in adoption of automated item identification systems for supply chain management, and rise in need for RFID technology in healthcare industry in this region. At the same time, the Asia-Pacific region would cite the fastest CAGR of 15.1% throughout the estimated period. This is attributed to the presence of largest manufacturers players and OEMs in the region and surge in demand for tracking, monitoring, locating objects and beings for security, safety, and resource optimization.