The global RFID (Radio Frequency Identification) Technology Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global RFID (Radio Frequency Identification) Technology Market estimated to touch US$ 40.5 billion by the completion of the prediction period. The market was appreciated by US$ 10.53 billion in the year 2015. The RFID technology likely to observe a stable development in the approaching years.
Key Players:
- Acreo Swedish ICT AB
- Alien Technology
- Checkpoint Systems
- Datalogic S.p.A.
- Honeywell International Inc.
- Impinj Inc.
- Mojix Inc.
- NXP Semiconductors Inc.
- RFID 4U
- Tibco Software Inc.
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Growth Drivers:
The growth is credited to the growing demand for tracing, following, and observing substances and beings for safety, security, and optimization of source. Such as the world, changes in the direction of Real Time Location Systems [RTLS], grids of sensor and Internet of Things [IoT], radio frequency identification instruments expected to perform more and more significant part in taking advantage of this expertise. The RFID Technology market is estimated to develop at a CAGR of 14.7% for the duration of the prediction.
Product Outlook:
- RFID Tags
- RFID Readers
- Middleware
Frequency Outlook:
- Low Frequency
- High Frequency
- Ultra-high frequency
Application Outlook:
- Retail
- Financial Services
- Healthcare
- Industrial
- Government
- Transport & Logistics
Regional Outlook:
By the source of geography, North America grasps the biggest stake of market in the world. Attribute this to the significant usage of RF tags in the subdivisions of healthcare and sales. The area has highlighted an upsurge in the greater capability consignments in the current years, particularly in the U.S.A. This is region of the largest demand for tags. North America likely to develop by a strong CAGR of 14.0% above the prediction period.
The Asia Pacific region is estimated to grow at the fastest rate over the forecast period owing to the growing demand from developing countries, such as China and India. The presence of many manufacturers and OEMs in the region is also conducive to the region’s growth. The South American region estimated to follow the Asia Pacific region in terms of growth in the coming years.
Asia Pacific is projected to develop by the speedy percentage, above the prediction period, due to the increasing demand from emerging nations, for example India and China.
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