Press release
"Global RFID Market" Anticipated to Grow With a Impressive CAGR of +7.9% During the Forecast Period 2017-2024
Global RFID Market ? Industry Trends and Forecast to 2024
Global RFID Market By Type (Tags, Readers, Software) By components (RFID Tags, RFID Readers, RFID Software and Middleware), By Application (Logistics and Transportation, Aerospace and Defense, Automotive, Retail and Consumer Goods, Agriculture Facility and Livestock, Healthcare, Medical and Pharmaceuticals, Government, Others) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024
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Major Market Drivers and Restraints:
• Increasing use of RFID in Manufacturing
• Government Initiatives
• High adoption of RFID technology in retail industry
• Laws for Compulsory Tagging of Animals
• High Installation Costs
Major Market Competitors :-
• Alien Technology,
• Applied Wireless RFID,
• Avery Dennison,
• Caen RFID,
• Checkpoint Systems,
• GAO RFID,
• Globeranger,
• Impinj,
• Invengo,
• Mojix,
• Motorola,
• Nedap,
• NXP Semiconductors,
• Smartrac Technology,
• Thingmagic,
• Zebra,
• Honeywell Aidc,
• Securitag Assembly Group (SAG),
• Identiv,
• Confidex,
• Omni-ID,
• Savi Technology,
• Vizinex RFID among others.
In 2017, Avery Dennison partnered with Target Corporation, as part of Target’s deployment of RFID technology to more than 1,600 stores to help maximize inventory availability and deliver an enhanced guest experience.
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Market Segmentation:
On the basis of type:- Tags, Readers, and Software. The tags market is expected to grow in the forecasted period.
On the basis of components:- RFID Tags, RFID Readers, RFID Software and Middleware. The RFID readers market is expected to grow in the forecasted period.
On the basis of application:- Logistics and Transportation, Aerospace and Defense, Automotive, Retail and Consumer Goods, Agriculture Facility and Livestock, Healthcare, Medical and Pharmaceuticals, Government, Others. The retail and consumer goods market is expected to grow in the forecasted period.
On the basis of geography:- North America & South America, Europe, Asia-Pacific, and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
In 2017, North America is expected to dominate the market.
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