Press release
Radio Frequency Identification (RFID) Market Share, Trends, Outlook, and Forecast Report 2023-2030
Radio waves are used by radiofrequency identification (RFID), a passive wireless technology, to identify objects that have been tagged. The need for RFID technology in manufacturing facilities to increase productivity is driving the RFID market. Other important factors include the availability of low-cost RFID solutions with high return on investment, the growing need to improve inventory management, and the rise in government initiatives and regulations supporting safety and security.
It is utilized in many business and industrial applications, such as supply chain tracking and library checkout tracking. RFID functions by putting data on a tiny electrical device, often a microchip. The gadgets can sometimes be as small as a grain of rice and are frequently exceedingly microscopic.
Radio Frequency Identification (RFID) Market Size and Growth Analysis
The global Radio Frequency Identification (RFID) Market is expected to exhibit a CAGR of 20.4% during the forecast period 2023-2030.
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Radio Frequency Identification (RFID) Market Dynamics and Trends
The product's market share is determined by technological developments in RFID technology. Chips for radio frequency identification (RFID) that are Gen2 represent cutting edge technology. These new RFID chips are distinguished, among other things, by their size. The diameter of the chips is 125 micrometers.
Thanks to technological advancements, manufacturers can now produce RFID tags and chips at a low cost, enabling customers to use tags and expand their applications. The fact that the circuit design now functions with a variety of semiconductor technologies, including those included in conventional computer chips, is an additional benefit. Furthermore, it enables the insertion of RFID tags into computer chips, enabling users to monitor specific chips over time. Consequently, this might facilitate verification while assisting in the decrease of counterfeiting.
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Radio Frequency Identification (RFID) Market Segment and Shares Analysis
By Type
By Frequency
By Product
By Material
By Application
By Region
Major Companies Covered
Identiv, Inc, Nedap N.V, Honeywell International Inc, Zebra Technologies Corp, NXP Semiconductors, Invengo Technology Pte. Ltd, AVERY DENNISON CORPORATION, GAO Group, HID Global Corporation
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