Radio Frequency Identification Market: Revenue to Grow at a CAGR of 14.5% During 2018–2028, Driven by Integrating RFID Technology with IoT and Big Data Platforms for Real-time Data Access
RFID, as considered under the scope of the report, is used in various industries for supply chain management.
The global RFID market is estimated to be valued at US$ 12,912.0 Mn by the end of 2017 and is expected to grow in the coming years at a CAGR of 14.5% in terms of value over the forecast period. The global RFID market is anticipated to represent a large incremental opportunity between 2018 and 2028.
On the basis of application, the global RFID market can be segmented into logistics & transportation, aerospace & defence, automotive, retail & consumer goods, agriculture, healthcare, government and others. The retail and consumer goods segment is expected to account for a sizable share of the overall RFID market by the end of the forecast period. The growth of the RFID market is predominantly driven by the rising need for efficient supply chain management in the developing economies of South East Asia & Others of APAC, Middle East & Africa and China. In the healthcare sector, the focus on RFID technology for the tracking and classification of medical instruments is rising, and this is expected to drive the demand for the technology. The adoption of RFID technology by customers of aircrafts, such as Airbus, Boeing and the U.S. Department of Defence, for improving supply chain visibility, asset management & utilization, work-in-process (WIP) tracking, improved maintenance tracking and efficient logistics & manufacturing operations has increased.
The North AmericaRFID market holds a major value share in the global market and is likely to maintain its dominance in the global RFID market over the forecast period. The market in this region is projected to represent a significant incremental opportunity between 2018 and 2028. Rising need for efficient supply chain management is expected to support the growth of the North America RFID market during the forecast period. RFID stores detailed information related to the product on which it is tagged. The prices and details of products with RFID tags are automatically recorded when the customer approaches the counter without the need to scan every product, which saves the time of the customer. Moreover, it allows the cost tally in one scan, which saves the time of the customer as well as the retailer. These advantages have encouraged retail and manufacturing companies across developing regions such as SEA & Others of APAC and China to adopt RFID for tagging their products. China is expected to present attractive opportunities for RFID manufacturers followed by countries located in the South East Asia & Pacific. The China RFID market is estimated to grow at a significant CAGR in terms of value over the forecast period. Sales of RFID in the Western Europe market are projected to represent a total incremental opportunity of US$ 6,802.7 Mn and the Latin America RFID market is also anticipated to witness significant growth.
At present, the vendors in the market are focusing on the integration of RFID with IoT to be able to identify an object and its real-time location. Some of the market vendors in the global RFID market include Zebra Technologies Corporation; HID Global Corporation; Thin Film Electronics ASA; Invengo Information Technology Co., Ltd.; GAO RFID Inc.; Impinj, Inc.; Xerox Corporation; Omni-ID; Alien Technology, LLC and Molex, LLC.
Key developments in the RFID market
In January 2017, Zebra Technologies Corporation launched Zebra SmartSense RFID for application in the retail sector for identifying and tracking the location of merchandise, associates and shoppers in a retail store in real-time
In May 2017, HID Global Corporation launched IoT solutions to offer enterprises solutions for asset management and equipment management. HID Location Services is used for item management, and it monitors the location and movement of assets & equipment across multiple locations or in a particular area
In February 2017, Impinj, Inc. entered into a partnership with STANELY Healthcare, a leading provider of healthcare products, to integrate Impinj’s Platform with MobileView Real-Time Location Systems (RTLS) software platform to offer RFID products for application in the healthcare industry.
公司RFID读写器产品包括各频段RFID手持终端、定制低频读卡器、定制高频读写器、定制射频读卡器、超高频桌面式读写器、高频RFID读写器、高频中距离读写器, 固定式Mifare读写器、 PDA CF接口RFID读卡器、可调增益的有源RFID阅读器、 一体式读写器、RFID条形码扫描枪、125KHz中距离阅读器、低频远距离阅读器、超高频手持机、超高频读写器、超高频数据采集器等。特色RFID标签产品有钉子型标签、动物跟踪标签、迷你型PVC标签、抗金属RFID标签、挡风玻璃无源标签、带磁铁的抗金属RFID标签、腕带式有源RFID标签、RFID珠宝标签、超高频抗金属耐高温标签、动物耳标、鸡鸭脚环、玻璃管标签、巡更标签、异形标签、不干胶电子标签、动物管理RFID标签、RFID标签、植入式电子标签、电子耳标、RFID溯源耳标、RFID动物耳标、智能卡、射频卡等。各种低频RFID、高频RFID、超高频RFID系统已广泛应用于停车场管理、资产管理、生产制造、物流管理、仓储管理、追踪追溯、设备巡检、交通运输、农业监控、小额支付、企校一卡通、会员管理等应用领域。