At 9.8% CAGR RFID Reader Market to Reach $22.46 Bn by 2026

 

The handheld RFID readers segment contributed to more than three-fifths of the global RFID reader market share in 2018, and is expected to dominate throughout the forecast period.

This is due rise in adoption of RFID tag and increase in need for mobility for RFID readers. In addition, the surge in demand for handheld RFID readers in automotive and manufacturing industry fuels the growth of the segment.

On the other hand, the fixed RFID reader segment is expected to register the fastest CAGR of 22.6% from 2019 to 2026. This is 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.