9th October 2019 – 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.
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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.
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