Press release
Increase in penetration of RFID sensor in various applications dominating RFID Sensors Market by 2024
According to a recent report published by Allied Market Research, The global RFID sensors market was valued at $11.81 billion in 2017, and is projected to reach $26.67 billion by 2024, registering a CAGR of 12.2% from 2018 to 2024.
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Helping the supply chain management system by tracking & monitoring their inventories and providing robust security drive the market growth. Moreover, long distance tag readability fuel the growth of the global RFID sensors market. Integrated circuits in RFID assembly contain a tiny antenna for transferring information, which further contribute towards the market growth. However, high RFID cost and inability to read signals from multiple outputs hamper the market growth.
RFID Sensor Market Key Segments:
By Product
• Tags
• Reader
• Software
By Frequency Band
• Low Frequency
• High Frequency
• Ultrahigh Frequency
By Type
• Active
• Passive
By Application
• Access Control
• Livestock Tracking
• Ticketing
• Cashless Payment
• Inventory Management
By Industry Vertical
• Transportation & Logistics
• Healthcare
• Hospitality
• Food & Beverages
• Retail
• Manufacturing
• Government
The key players profiled in the report are Murata Manufacturing Co., Ltd, Vitaran Electronics, SMARTRAC, ELA Innovation, Balluff Inc., AB&R (American Barcode and RFID), VisuaScan Inc., Imprint Enterprises, Coridian Technologies, Inc., AbeTech Corporate, and Invengo Technology Pte. Ltd.
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About Allied Market Research
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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