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. It 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. The Radio Frequency Identification Technology industry on the source of Type of Application could span Transport & Logistics, Industrialized, Financial Services, Government, Healthcare, Retail, and Others.
The subdivision of Retail is the biggest adopter of RFID tags. It tracked by the subdivision of industrialized. The subdivision of Retail projected to develop by a CAGR of 12.6%, in North America, during the period of approaching years. On the other hand, the subdivision of Government is estimated to observe a considerable development in the approaching years. The subdivision of Healthcare too expected to show an important acceptance of the expertise.
The Radio Frequency Identification (RFID) Technology market on the source of Type of Frequency could span Ultra-High frequency, High Frequency, Low Frequency. The technology of Radio Frequency functions on the lower end of the electromagnetic band and generally functions in the variety from 10 kHz to 100 MHz The operative frequencies of RFID tags and interrogators’ separated into Ultra-High Frequency [433, 860 To 960 MHz], High Frequency [13.5 MHz] and Low Frequency [125 To 134 kHz].
However, tags with high frequency grasp the major stake of income. The tag with ultra-high frequency are likely to achieve speedy acceptance in the market, in the approaching years, due to their increasing demand in the fields of wireless device configurations, inventory management and pharmaceutical applications. The ultra-high frequency instruments has surpassed the high frequency tags by means of capacity. Yet, due to the greater price of high frequency tags, they produce great income for the sellers.
The Radio Frequency Identification Technology market on the source of Type of Product could span Middleware, RFID Readers, RFID Tags. The RFID (Radio Frequency Identification) Technology industry with respect to Trades in terms of intake, Profits, Market stake and Development percentage could span North America [U.S.A, Canada and Mexico], Europe [Germany, U.K.], Asia Pacific [India, Japan, China], Latin America [Brazil], Middle East and Africa.
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. The existence of numerous manufacturers and Original Equipment Manufacturers [OEMs] in the area is likewise advantageous to the progress of the area. The area of South America estimated to track the area of Asia Pacific by means of development in the upcoming years.
The statement revises Trades in terms of intake of RFID (Radio Frequency Identification) Technology in the market; particularly North America, Europe, Asia Pacific, South America and Middle East & Africa. It concentrates on the topmost companies operating in these regions. Some of the important companies operating in the field on the international basis are Zebra Technologies, NXP Semiconductors, Alien Technologies, Smartrac, and Honeywell International.
Additional notable companies operating in the field are- Acreo Swedish, Mojix, RFID4U, Impinj Inc., Tibco Software, Checkpoint Systems, Savi Technology, Motorola Solutions, Invengo Technology Pte. Ltd. Applied Wireless RFID, and Avery Dennison.
Product Outlook (Revenue, USD Million; 2014 - 2025)
• RFID Tags
• RFID Readers
Frequency Outlook (Revenue, USD Million; 2014 - 2025)
• Low Frequency
• High Frequency
• Ultra-high frequency
Application Outlook (Revenue, USD Million; 2014 - 2025)
• Financial Services
• Transport & Logistics
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa (MEA)
Research Support Specialist, USA