Press release
Global RFID Market Analysis 2019 Observational Studies with Top Companies like martarc 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
Global RFID Market – Industry Trends and Forecast to 2024
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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For market segmentation study, a market of potential customers is divided into groups or segments based on different characteristics such as end user and geographical region. The RFID Market research report offers an analytical assessment of the prime challenges faced by the market currently and in the coming years, which gives idea to other market participants about the problems they may face while operating in this market over a longer period of time. This RFID Market analysis offers an examination of various segments that are relied upon to witness the quickest development amid the estimated forecast frame.
Key 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
• 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:
GlobeRanger 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., Nedap N.V., 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
Segmentation: Global RFID Market
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)
Drivers: Global 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
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 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.
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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Data Bridge Market Research
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Email: sopan.gedam@databridgemarketresearch.com
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
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