Press release
RFID Sensor Market: Info-graphic view, Competitive Analysis, Development Factors, and Regional Dynamics.
RFID Sensor Market
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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A radio frequency identification reader (RFID) is a device used to gather information from an RFID tag, which is used to track individual objects. Radio waves are used to transfer data from the tag to a reader. Presently, increase in demand for the RFID sensors has been witnessed from the developed countries such as the U.S., Canada, and others. Companies in this industry adopt various techniques to provide customers with advanced and innovative product offerings.
RFID sensor is an automatic identification technology, which uses radio frequency electromagnetic field to identify the objects carrying tags. 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.
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The research report presents a complete judgment of the RFID sensor market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities.
Competitive Analysis:
The RFID sensor industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global RFID sensor market include,
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
Invengo Technology Pte. Ltd.
Report Overview:
https://www.alliedmarketresearch.com/RFID-sensor-market
Top Impacting Factors:
Rise in need for tracking inventory & equipment in businesses; robust security in wide applications such as in inventory management, tracking the production process, and others; and long distance object reading feature of RFID tags are the key factors that impact the growth of the market. In addition, development in the automotive sector, surge in demand for RFID sensors, high RFID cost, tags collision affect the growth of the global RFID sensor market. These factors are anticipated to either drive or hamper the market growth.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international RFID sensor market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
Key Benefits for Stakeholders:
1) Porter's five forces analysis illustrates the potency of the buyers and the RFID sensor market share of key vendors.
2) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
3) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
4) Major countries in each region are mapped according to their revenue contribution to the global market.
5) The report includes major RFID sensor suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.
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