Rfid Tags Reader Market Revenue Share, Growth Factors, Trends, Analysis & Forecast, 2019–2030June 20, 2022 ⚊ 1 Min read ⚊ Views 141 ⚊ BLOG
The RFID Tags Reader Market is expected to grow from USD 1.63 Billion in 2020 to USD 2.06 Billion by 2030, at a CAGR of 2.98% during the forecast period. Rise in roadways construction due to urbanization, increase in number of toll booths in developed as well as developing countries, emergence of several smart city programs, rise in demand of Automatic Number Plate Recognition (ANPR) technology for vehicle surveillance and need for better crowd and parking management solutions, for preventing unauthorized access, e.g. avoiding burglars and thieves from entering into the property are some of the driving factors of the market.
High cost of deployment, maintenance & repair and lack of awareness regarding RFID Tags Reader may restrain the growth of the RFID Tags Reader market.