Persistence Market Research
Global RFID Pallet Wrappers Market: Overview
RFID pallet wrappers are the machine that wraps a stretched film of plastic around a loaded pallet to provide primary function of extra support to products being transported, and with the new technological advancement of RFID labels embedded in the machine, the shipment can be tracked from several feet away. RFID pallet wrappers are the buzz in the packaging industry as it helps to improve the supply chain and thus improve quality. The mounted RFID refers to radio frequency identification refers to an electronic device which consists of chip and antenna. The inevitable process of manufacturing and distribution that involves the package to travel in a conveyor and since tracking product movement is the key aspect for RFID. Thus it’s an important function that the antenna should be able to track tagged packages. The RFID pallet wrappers help to provide distinctive ID to each product wrapped and with individual information such as date shipped, manufacturing location, lot number, etc. After the wrapping process, the labels is printed with the help of thermal-transfer printer that is human readable information and then is encoded with RFID. The application of RFID pallet wrappers has penetrated in improving the supply chain in retail, transportation, and automation.
Global RFID Pallet Wrappers Market: Dynamics
Withstanding the soft economy RFID pallet wrappers deployment has gained tremendous traction in last year. The key driver to RFID pallet wrappers is its ability to track pallet and identify valuable commodities in the course of global commerce. Moreover, the asset tracking helps to maintain the whereabouts of the valuable asset that is fueling the growth of the RFID pallet wrappers. RFID pallet wrappers, especially with ultra-high frequency, is a potential factor for the growth of the market. Owing to its perfect match for tracking and asset management and getting a return on investment. Moreover, the tags can be encrypted to provide minimum information of the package thereby securing the details. Through RFID pallet wrappers faster delivery of the order and fill the order in a timely manner, and customer relationship is ensured, the potential factor adds advantage to the growth of RFID pallet wrappers. The companies driving RFID pallet wrappers market are Wal-Mart Stores Inc., The Home Décor Inc., ACE Hardware Corp, and Wegmans Food Market Inc. are some of the major companies that use RFID pallet wrappers for improvement of business process and overall supply chain operation. Enabling such infrastructure that is fully equipped with RFID pallet wrappers requires relatively higher investment as compared to traditional method of pallet wrapping which is a challenging factor to the growth of RFID pallet wrappers market.
Global RFID Pallet Wrappers Market: Segmentation
Based on RFID: Global RFID Pallet Wrappers Market is segmented into
Global RFID Pallet Wrappers Market: Region Wise Outlook
The global RFID pallet wrappers market is divided into seven regions, namely North America, Latin America, Asia Pacific excluding Japan (APEJ), Western Europe, Eastern Europe, Japan and the Middle East and Africa (MEA). North America holds the major share in the RFID pallet wrapper market due to rising demand for packaging in manufacturing and food & beverage industry. The market in APAC and Latin America is expected to be the prominent contributor to the growth of RFID pallet wrapper market owing to the proliferation of manufacturing industries in the region. The regions in Europe is anticipated to grow at moderate CAGR; this is due to the restrained manufacturing operation in the Western and Eastern Europe. The strong development in the region of MEA for pharmaceutical, manufacturing, and food & beverage industry is anticipated to attract demand for RFID pallet wrappers over the forecast period.
Global RFID Pallet Wrappers Market Players
Few of the prominent players in the global RFID pallet wrappers market are as follows
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