Smart choices in commercial & home electronics

RFID-enabled products, modern financial equipment and smart commercial products are experiencing a market boom thanks to the increased efficiency they provide.

Homeowners and businessowners are assimilating the use of smarter technology into their everyday lives. Sustainability, cashless transactions, improved business efficiency and home entertainment are among the trending lifestyles that have emerged in recent years as society evolves into smart living. Discover the related smart devices worth sourcing from verified suppliers here at Global Sources.

RFID technology

Radio frequency identification, also known as RFID, is a popular technology used by businesses to improve productivity and efficiency, and increase ROI. An RFID system mainly consists of an RFID tag, antenna, RFID reader, which can also be handheld, and transceiver. Through low-power radio waves, data from an RFID tag are transmitted to the RFID reader. The information is then transferred and stored to a computer system for analysis.

A report by Markets and Markets estimates the RFID market to be valued at US$10.7 billion in 2021, and is projected to reach US$17.4 billion, with an annual growth rate of 10.2 percent. The popularity of RFID technology continues to soar due to the availability of cost-effective RFID solutions, high returns on investment, and increasing installation of RFID systems in manufacturing units to improve productivity due to COVID-19. RFID cards are expected to yield the highest sales. These are commonly used for access control, plus in merchandises, employee IDs, and tracking of inventory, event attendees, IT assets and more. These include RFID key cards, RFID chip credit cards and RFID hotel key cards.

Modern financial Equipment

Gone are the days of cash being the most common mode of payment. The trend for safer, faster and more secure cashless transactions has driven the demand for POS terminals. The market is estimated by Report Linker to grow at 8.3 percent annually, with its value soaring from US$72.3 billion in 2020 to US$ 116.3 billion by 2026. These devices process payment through a smartphone via mobile wallets such as Apple Pay, Android Pay and Google Play, or a contactless credit, debit or prepaid card. Other industries that use this technology include the hospitality, transportation and banking fields.

Businesses can improve queue efficiency, plus avoid risks from employee theft, robbery and counterfeit money. Additional benefits include inventory tracking, and online and in-store sale unification. Suppliers from Global Sources offer innovative units that have features such as real-time translation and AI face and voice recognition, plus built-in Bluetooth thermal receipt printers. Handheld POS terminals feature touchscreen displays and have lower power consumption. 4G POS terminals offer internet support on-the-go. Focusing on receipt printers, various variants are also available for sourcing according to customer preference. These include wireless, USB, mobile and portable receipt printers.

Home and commercial smart devices

Solar panels - Solar lighting systems are thriving in commercial, industrial and residential areas. The market is projected to reach $10.8 billion by 2024, growing at a CAGR of 15.6 percent. Solar lighting has the benefit of lowering electricity bill, helping consumers and businesses save on costs in the long run. In the era of sustainability and green smart living, these devices have low maintenance and are environmentally friendly. Solar panels are at the heart of the system since generate electricity from captured particles of sunlight.

Projectors - The projector market has been growing in popularity. Although not a new device, innovation in this market has rapidly increased. Blurry and poor-quality images are a thing of the past. Today's modern home projectors can achieve 4K UHD images, an ideal setting in home cinemas. With the boom of the gaming market, projectors are also being considered by casual gamers who want an easy and immersive gaming setup. Other variants include 3D projectors and portable projectors.

Audio mixers - It's no secret that the pandemic has hit the entertainment industry, especially the music scene. Touring has been halted, causing musicians' livelihoods to stall. As such, livestreaming has suddenly boomed, with thousands of musicians performing in live online shows at the comfort of their home or home studio. What was once used only in recording studios and concert events has made its way into musicians' homes. To achieve a professional sound setup and to connect the mics and instruments altogether, music artists have been widely investing in audio mixers for streaming. Variants include USB audio mixers, portable audio mixers, Bluetooth audio mixers and Mac audio mixers.