IoT RFID Readers Market Key Highlights:
- Market Size (2024): USD 13.88 Billion
- Projected Market Size (2034): USD 34.40 Billion
- CAGR (2023-2034): 9.5%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
IoT RFID Readers Market Definition
The IoT RFID readers market is an integral branch of the electronics industry. This industry deals in development and distribution of internet-based RFID readers across the world. The various products available in the market include handheld RFID readers, integrated RFID readers, non-integrated RFID readers and fixed RFID readers. These readers are developed using several frequencies such as low frequency, high frequency and ultra-high frequency. This market is likely to rise significantly with the growth of the IT industry around the globe.
The demand for IoT-based RFID readers has rapidly increased in the agricultural sector. In the agriculture industry, these devices are used for several applications, such as animal identification and tracking, food traceability, inventory management, pest and disease monitoring, environmental monitoring, and others. Also, the usage of these devices has grown in the transportation and logistics industry. In the transportation and logistics sector, IoT-based RFID readers are used for supply chain visibility, route planning, product tracking, and others. Moreover, the applications of these devices have increased in the food and beverage industry. In the food and beverage sector, IoT-based RFID readers are used for waste reduction, personnel management, and supply chain management. Thus, the increased application of these devices in the above-mentioned sectors is expected to boost the growth of the IoT RFID readers market.
Advancements in cloud-based data management and tag designs along with developments associated with wearable RFID readers is expected to create ample growth opportunities for the market players in the future. In August 2024, BCI launched Drishti. Drishti is an IoT-enabled RFID reader that finds numerous application in enhancing the supply chain management in several organizations.
IoT RFID Readers Market Segmentation:
By Type
- Low Frequency Readers
- High Frequency Readers
- UHF Readers
By Application
- Building Access Control
- Public Transit
- Product Assembly
- Product Tracking
- Logistics
- Others
IoT RFID Readers Market Companies:
- Advantech
- ACD Group
- Datalogic ADC
- Zebra Technologies
- Pepperl + Fuchs
- Impinj
- Alien Technology
- Texas Instruments
- KATHREIN
- Toshiba
- Vantro Systems
- Omron Automation
- Hans Turck
- SICK
- Springcard
- Farpointe Data.
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