Asia Pacific likely to dominate the global RFID market
The global RFID market is expected to witness a CAGR of 14.4% during the forecast period to reach revenue of $32.50 billion by 2024
With its recently published study Global Radiofrequency Identification (RFID) Market Drivers, Restraints, Opportunities, Trends, and Forecast up to 2024, Industry Research Place forecasts that the global market for RFID will grow significantly in the coming years owing to the increasing government initiatives on integrating RFID technology across various applications, rising interest on value chain management, and expanding Internet of Things (IoT) infrastructure.
Radiofrequency identification (RFID) is a type of contactless automatic identification and tracking technology that utilizes radiofrequency signal to identify an object/item and obtain the relevant information automatically. RFID system comprises various components such as RFID tags, RFID reader, RFID antenna, and host computing device with appropriate application software. RFID tags are tiny microchips with memory and an antenna coil configured to respond and receive signals from an RFID transceiver. RFID reader is also known as RFID interrogator as it interrogates the tag in order to capture location, identification, and other information about the device or product to which the tag is attached.
The global market, in terms of product type, is d into active RFID/RTLS systems, passive RFID services, networking, software, passive RFID interrogators, and passive RFID tags. By applications, the market is d into retail, healthcare, transportation and logistics, financial services, industrial, government, and others.
In 2017, the Americas region had the largest share in the global RFID market and is likely to lose its market share to Asia Pacific by the end of 2024. This is mainly due to expanding organized retail sector and increasing investments on asset management solutions by organizations across various industry verticals.
RFID is one of the key enabling technologies for the Internet of Things (IoT) applications, which is expected to have huge deployments across regions.
Key insights of the report include:
Market Analysis By Product Types
Active RFID/RTLS Systems
Passive RFID Services, Networking, Software
Passive RFID Interrogators
Passive RFID Tags
Market Analysis By Applications
Transportation and Logistics
Market Analysis By Regions
Middle East & Africa (MEA)
This report analyses the global market for RFID. The report will enable the user to understand and gain insights into the current and forecast market situation. The market is comprehensively analyzed by geography to give complete information on the global scenario. The qualitative and quantitative data provided in this study can help user understand which market segments, regions are expected to grow at higher rates, factors affecting the market and key opportunity areas. The report also includes competitive landscape of key players in the industry along with emerging trends in the market.
Global RFID Market COVID-19 impact Analysis
This report highlights the impact of the Covid-19 pandemic on Global RFID Market. By combining data from a range of industry sources, as well as predictive modeling and market trend analysis, we provide an evidence-based set of projections that will allow organizations to plan their strategies more effectively. The report gives in depth analysis of short term and long term impacts of epidemic on the industry.
The COVID 19 impact assessment of Global RFID Market is divided into following sections:
Section1: Pre Lockdown
This part of the report looks at how market changed throughout early 2020, as the spread of COVID-19 intensified on different geographies.
Section2: During Lockdown
This part of the report collects data across the sector to know how people have responded to lockdown. It analyses the impact of the epidemic on the workforce in the industry and disruption in various regions and countries
Section3: Post Lockdown
This part of the report project what sector recovery could look like and summarizes ways in which the business landscape could shift.
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Global RFID Market Table of Contents
Chapter 1: Introduction
Chapter 2: Summary and Highlights
Chapter 3: Market Overview
Chapter 4: Impact of COVID 19
Chapter 5 Global Market for RFID
Chapter 6: Market Breakdown by Segment
Chapter 7: Market Breakdown by Region
Chapter 8: Industry Trends
Chapter 9: Company Profiles
Chapter 10: Appendix
An overview of the Global RFID Market
In depth analysis of market dynamics and major factors such as drivers, restraints, opportunities and trends influencing the global market
Global RFID Market revenue data historic and forecast analysis (2015 to 2026)
Characterization and quantification of the market segments for RFID Market
Market share analysis of key market participants and their competitive landscape
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Important Questions Answered by Global RFID Market Report
What is the impact of COVID 19 epidemic on the Global RFID Market?
Which is mostly affected region, country?
Which is the current largest and fastest-growing region?
What is the market size and growth rate of the Global RFID Market?
What are current factors affecting the growth of market?
What are Key trends and opportunity areas?
Within RFID Market, which segments are fastest growing & emerging strongly? What are the drivers and restraints for each segment? What are vendor competencies by segment?
What are the major strategies adopted by leading market companies?
What are company challenges and essential success factors by market segment?
How company offerings and supply chain capabilities are shifting to meet emerging market needs?
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