MarketResearchReports.Biz has announced addition of new report "Global RFID Readers Market 2016-2020" to its database.
Market outlook of the global RFID readers market
RFID readers play a critical role in inventory management and are finding tremendous response in many big stores, supermarkets, hypermarkets, and apparel stores. This market research report by Technavio emphasizes on the involvement of RFID readers in different end-user segments like healthcare, transportation, and retail. The increasing incorporation of RFID readers in these segments is expected to result in its impressive market growth rate of more than 21% by 2020.
The ability of RFID readers to reduce errors pertaining to data entry is a key driver for the growth of this market. With the introduction of RFID and barcode systems firms are able to record and recognize data entries automatically with more precision. It not only helps in the automation of data entries but also corrects warehouse errors. The ability of these readers to facilitate the efficient tracking of assets is a significant factor that is expected to foster its adoption during the forecast period.
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End-user segmentation of the RFID readers market
Technavios market research analyst estimates the retail segment to retain its dominating hold over the market by 2020. The growing need to improve inefficiencies in the supply chain is a critical factor that results in this segments high market share of nearly 58% by 2020.
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Geographical segmentation of the RFID readers market
In this market research, analysts estimate the Americas to account for an impressive market share of more than 51% by 2020. The introduction of stringent mandates that necessitates the usage of RFID devices in various sectors like transportation and healthcare is expected to impel market growth during the forecast period.