Press release
Asia-Pacific Radio-Frequency Identification Technology (RFID) Market, Segmentation, Advertising Trends, Market Analysis, Insight, Scope, & Insight by 2028.
Asia-Pacific Radio-Frequency Identification Technology (RFID) Market, Asia-Pacific Radio-Frequency Identification Technology (RFID
The Asia-Pacific radio-frequency identification technology (RFID) market is expected to grow in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 16.1% in the forecast period of 2021 to 2028 and is expected to reach USD 7,311.27 million by 2028. Rising research work in the fields of automation and expansion of industrial 4.0 is boosting the market.
RFID (radio frequency identification) is a part of a tracking system that uses smart barcodes to identify items through radiofrequency technology. The radio waves transmit data from the tag to a reader. The data received is then transmitted as information to an RFID computer program. RFID tags are equipped with integrated circuits and antennas that can be attached to all kinds of products and packaging. The RFID tags transfer data through the radio waves, which RFID readers convert to form a more usable form of data that are then analyzed by the backend. This flow of data is highly beneficial in logistics for allowing warehouse and fleet managers to monitor the condition of goods continually and track the objects throughout the supply chain, leading to greater efficiencies and cost savings in logistics. The RFID includes passive RFID and active RFID. Active RFID is integrated with batteries that act as a power source for the tag's circuitry and antenna. Some of these tags contain batteries that can be replaced after their life period. In other cases, the tags have to be changed in the completion of battery life. Passive RFID does not consist of any power source and solely depends on the RFID reader's propagation signal to power the tag. As these systems operate without any battery, the life period of these tags can last up to 20 years or more.
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