RFID Market by focusing on Top Companies like Alien Technology, Applied Wireless RFID, Avery Dennison, Caen RFID, Checkpoint Systems

The Global RFID Market is expected to reach USD 44,351.6 million by 2024 from USD 13,378.7 million in 2016, at a CAGR of 16.3% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global RFID Market By Product Type (Tags, Readers, Software), By End User (Industrial, Transportation, Retail, Consumer Package Goods, Healthcare, Education, Others) By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)- Industry Trends and Forecast to 2024

Major Players: Global RFID Market

Some of the Major Players Operating in this Market are:-

• Alien Technology,
• LLC,
• AWID,
• CAEN RFID S.r.l,
• CCL Industries Inc.,
• GAO RFID Inc.,
• Globe Ranger,
• Impinj Inc.,
• Invengo Technology Pvt. Ltd.,
• Mojix Inc.,
• Nedap N.V.,
• SMARTRAC N.V,
• ThingMagic,
• Honeywell International Inc., and
• ZIH Corp. among others.

Drivers:

Some of the major factors driving the market for RFID market are increase demand of RFID technology in retail industry and enforced laws for labelling animals. These factors increase the demand for RFID market. Increasing installation of RFID in manufacturing units and for productivity improvement and increasing use of security and access control application are the other major factors driving the growth of the non-destructive testing equipment market

Companies have diverse objectives for their RFID venture and distinctive ways to deal with the market, so it is difficult to look at retail arrangements. On the off chance that one retailer is a minimal effort supplier and utilizations RFID to cut expenses, while another is a top of the line retailer that utilizations RFID to upgrade the client encounter

Competitive Analysis:

RFID Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.

Key Drivers: Europe RFID Market

Some of the major factors driving the market for RFID market are increase demand of RFID technology in retail industry and enforced laws for labelling animals. These factors increase the demand for RFID market. Increasing installation of RFID in manufacturing units and for productivity improvement and increasing use of security and access control application are the other major factors driving the growth of the non-destructive testing equipment market

• High cost of RFID and device interoperability are the factor which may hinder the growth of this market
• Many companies are increasingly focusing on variability in the RFID tag with sensors and IOT based RFID labelling in order to strengthen their product portfolios in the RFID market.

Key Points: Europe RFID Market

Nedap N.V.is going to dominate the RFID market following with Smartarc N.V. and CCL Industries Inc. along with others such as Alien Technology, LLC, AWID, CAEN RFID S.r.l, GAO RFID Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Mojix, Inc.,ThingMagic, Honeywell International Inc., and ZIH Corp. among others.

• Tags market is growing with the highest CAGR
• Plastic material are driving the market with highest market share
• Industrial are dominating the RFID market

RISING DEMAND OF RFID TECHNOLOGY IN RETAIL INDUSTRY

RFID tags usage in animals has been considered as one of the oldest method use in the rough terrain and large ranges, especially in the outbreak of mad cow disease. RFID tags are important in animal industry to manage exotic and endangered animals for preserves. Tagging of animals in livestock industry helps the farmers to identify animals with respect to its pedigree and medical information.

FAVOURABLE LAWS FOR LABELLING LIVESTOCK

Non-destructive equipment is majorly found in the end user industries. Therefore, government are making stringent rules and regulation regarding quality control and personnel safety. Instances such as leakages in nuclear reactors, explosions of pipelines and refinery blasts had made the government to set up the safety guidelines, as a result, leads to drive the NDT equipment market.

GROWTH IN THE USAGE OF RFID IN SECURITY AND ACCESS CONTROL APPLICATION

RFID are beneficial with the respect to profitability, safety and security enhancement, reusability and reliability. RFID tags are used with respect of personal identification task as it can be engineered by tampered resistant, and has some cryptographic algorithm’s internal state. RFID tags helps in letting the specific person enter into the specific area.

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Major Market Drivers and Restraints:

• Increasing use of RFID in Manufacturing
• Government Initiatives
• High adoption of RFID technology in retail industry
• Laws for Compulsory Tagging of Animals
• High Installation Costs

In 2017, Avery Dennison partnered with Target Corporation, as part of Target’s deployment of RFID technology to more than 1,600 stores to help maximize inventory availability and deliver an enhanced guest experience.

Key questions answered in this report

• What will the market size be in 2024 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this market space?
• What are the market opportunities and threats faced by the key vendors?
• What are the strengths and weaknesses of the key vendors?

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This release was published on openPR.