Press release
RFID Smart Cabinets: Revolutionizing Inventory Control
According to The Business Research Company's, the rectangular dielectric resonator antenna market size has grown rapidly in recent years. It will grow from $9.07 billion in 2023 to $10.19 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. the growth in the historic period can be attributed to "wireless tech advancements, demand for compact antennas, high dielectric materials, radar and satellite growth, and military and aerospace applications.
the rectangular dielectric resonator antenna market size is expected to see rapid growth in the next few years. It will grow to $16.35 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. the growth in the forecast period can be attributed to 5G and IoT adoption, high-frequency communication, metamaterial innovations, smart city expansion, and enhanced wireless networks. Major trends in the forecast period include "antenna miniaturization, wearable device integration, improved antenna design, AI in antenna optimization, and eco-friendly materials.
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Market Drivers and Trends:
The rising adoption of connected devices is expected to propel the growth of the rectangular dielectric resonator antenna (DRA) market going forward. Connected devices are physical objects embedded with sensors, software, and other technologies to connect and exchange data with other devices or systems. The rising adoption of connected devices is driven by their ability to enhance convenience, efficiency, and automation in various aspects of daily life, ranging from home automation to industrial processes. Rectangular dielectric resonator antennas are utilized in connected devices such as Internet of Things (IoT) devices for their compact size, efficiency in wireless communication, and suitability for integration into small form factors. For instance, in November 2022, according to Ericsson, a Sweden-based network and telecommunications company, the number of IoT-connected devices will increase to 34.7 billion by 2028, up from 13.2 billion in 2022, with 28.7 billion of these devices connecting via local short-range low-power wide-area networks (LPWAN) and 6 billion through wide-area networks, including private cellular networks. Therefore, the rising adoption of connected devices will drive the growth of the rectangular dielectric resonator antenna (DRA) market.
Major companies operating in the rectangular dielectric resonator antenna (DRA) market are focusing on advancements in metamaterials, such as 3D-printed dielectric materials, to enhance antenna performance, miniaturize designs, and improve efficiency in radio frequency applications. 3D-printed dielectric material systems refer to the use of additive manufacturing techniques to create non-conductive materials suitable for applications in radio frequency electronics and communications. For instance, in May 2021, Fortify, a US-based software company, and Rogers Corporation, a US-based provider of engineered materials for advanced connectivity and power electronics, partnered to enable additive manufacturing of low-loss dielectric materials for radio frequency (RF) devices. This collaboration merges Fortify's advanced composite processing capabilities with Rogers Corporation's expertise in high-frequency materials. Together, they aim to scale the production of precision substrates, gradient refractive index lenses, and other RF components using Fortify's high-throughput DLP platform, which excels in processing heavily loaded materials. Their focus includes meeting the rising demand for wireless communications and satellite communications (SATCOM) systems and extending active antenna systems (AAS) into broader consumer applications.
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Major Key Players of the Market:
Huawei Technologies Co Ltd, Panasonic Corporation, Qualcomm Incorporated, Kyocera Corporation, TE Connectivity, TDK Corporation, Murata Manufacturing Co Ltd, NXP Semiconductors, Mitsubishi Materials Corporation, Skyworks Solutions Inc, Niterra Co. Ltd, Qorvo Inc, Yageo Corporation, AVX Corporation, Rogers Corporation, Galtronics, Infinite Electronics Inc, PCTEL Inc., Kymeta Corporation, Laird Connectivity, Antenna Company, Maxtena Inc, Comsol, Antenova Ltd., Taoglas Group Holdings Limited, JEM Engineering LLC, Suzhou RF Top Electronic Communications Co. Ltd.
Radio Frequency Identification (RFID) Smart Cabinets Market 2024 Key Insights:
• The radio frequency identification (rfid) smart cabinets market size is expected to grow to$16.35 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%.
• Connected Device Surge Drives Rectangular Dielectric Resonator Antenna Market Growth
• Advancements In 3D-Printed Dielectric Materials For RF Devices
• North America was the largest region in the radio frequency identification (rfid) smart cabinets market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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