RFID Market Booming the Industries by Ravisisng keyplayers | Alien Technologies, Honeywell International, Inc, NXP Semiconductors, Inc, Smartrac N.V, and Zebra Technologies

Radio Frequency Identification (RFID) is a form of wireless communication, which uses tags in order to track the details of the objects. The benefits offered by the RFID to organisation are eliminating the human error, securing the data from unauthorized access, and minimizing overhead expenses. Increasing adoption of advanced technologies such as Real Time Location Systems (RTLS), sensor networks, Internet of Things (IoT), radio frequency identification devices (RFID) help in increasing the security of the data from the cyber threat.

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Increasing adoption of Internet of Things (IoT) is one of the major factor driving growth of the market.

Increasing adoption of IOT in the various verticals such as manufacturing, healthcare, retailers and many others is one of the major factors driving growth of the market. Increasing adoption of advanced technologies such as sensor, smart devices, robots and many more in the various verticals has positively uplifting the adoption of IOT in the various verticals, which in turn is driving the growth of the market.

Cloud-based RFID tags provide growth opportunity to the market

Increasing adoption of cloud services and solutions by the organization is expected to provide a growth opportunity to the market. Enterprises are adopting cloud-based applications at a large scale, which in turn increase the cloud traffic.

Global RFID Market: Regional Insights

North America held a dominant position in the global RFID market in 2017, and is expected to retain its dominance throughout the forecast period. North America accounted for the largest market share in global RFID market in 2017, owing to increasing number of cyber-threats across the various verticals such as healthcare, banking and financial, retail, manufacturing and many more, which is driving the growth of the market in this particular regions. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$ 1.33 billion worldwide, where California witnessed loss of over US$ 255 million.

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Global RFID Market: Competitive Landscape

The industry is marked by the presence of many global vendors, such as Alien Technologies, Honeywell International, Inc, NXP Semiconductors, Inc, Smartrac N.V, and Zebra Technologies. Some other prominent players include RFID4U, Tibco Software, Mojix, Inc, Impinj, Inc, and TIBCO Software, Inc. The key players of the market such as Alien Technologies, Honeywell International, Inc and among others adopted the new product development strategy in order to gain the competitive edge in the market.

Global RFID Market Outlook: Taxonomy

By Product Type

• RFID Tags
• RFID Readers
• Middleware

By Tags Type

• Active Tag
• Passive Tag

By Frequency

• Low Frequency
• High Frequency
• Ultra Frequency

By Applications

• Retail
• Financial Services
• Health Care
• Agriculture
• Government
• Transport& Logistics
• Manufacturing
• Others

By Regions

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East
• Africa

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This release was published on openPR.