RFID Market Forecast and Trends Analysis Research Report 2020-2027

The GMI Research expects the RFID market to expand at a higher rate. From a regional perspective, North America is predicted to dominate the market due to the continuous advancement in technology, the growing use of RFID technology in retail, healthcare, logistics sectors for asset management and tracking. The strong presence of major players like Honeywell International Inc. will drive the market growth.

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RFID Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

Some of the major factors contributing to the growth of the RFID market size include the increasing requirement for tracking inventory and equipment in business operations, the rising use of RFID tags in logistics, manufacturing, and warehousing, and the high demand for RFID in supply chain management in the retail business. According to the RFID market forecast, RFID aids in collecting the location data with the help of Real-Time Location System RTLS to detect the accurate location of assets, which will further surge the growth of the RFID market share in terms of revenue in the upcoming years.

As per the Institute of Electrical and Electronics Engineers (IEEE), around 50 billion objects will be connected to the internet by 2020. According to the RFID market analysis, the increasing introduction of IoT in the supply chain across numerous sectors, such as retail, manufacturing, pharmaceutical, and logistics industry, and advancements in printed electronics with 3D printing technology will further boost the market growth. As per the RFID market report, the factor hindering the market growth includes the high installation cost of RFID Systems like readers, tags, IoT integration, software, and training cost. Moreover, lack of device interoperability of secure exchange and usage of information among one or more devices will restraint the growth of the market.

Application Segment Drivers

Based on the application, the retail is expected to dominate the market in the upcoming years due to its various applications, such as supply chain management, store operation monitoring, asset tracking, payment security, and stock management. Numerous major top retailers, including Inditex Group, Neiman Marcus Group Ltd LLC, Walmart Inc., Amazon Com, Inc., and Rebecca Minkoff, are using RFID technology, thus propelling the growth of the market.

RFID Market’s leading Manufacturers:

  • Avery Dennison Corporation
  • Alien Technology, LLC
  • Zebra Technologies Corporation
  • Variuscard GmbH
  • NXP Semiconductors N.V.
  • GAO Group
  • Honeywell International Inc.
  • Fujitsu Group
  • RFID Global Solution
  • Checkpoint Systems, Inc.

RFID Market Segmentation:

Segmentation by Product:

  • RFID Tags
  • RFID Readers
  • Middleware

Segmentation by Type Revenue:

  • Passive RFID
  • Active RFID

Segmentation by Frequency:

  • Low Frequency
  • High Frequency
  • Ultra-high Frequency

Segmentation by Application:

  • Retail
  • Financial Services
  • Healthcare
  • Industrial
  • Government
  • Transport & Logistics
  • Others

Segmentation by Region:

  • North America

o   United States of America

o   Canada

  • Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

  • Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

  • RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a market research and consulting company that provides syndicated research reports, consulting services, and customized market research reports. Our reports are based on market intelligence studies to ensure relevant and fact-based research across numerous sectors, including healthcare, automotive, information technology & communication, FMCG, and other industries. GMI Research’s deep understanding related to the business environment helps us in generating objective strategic insights. Our research teams consisting of seasoned analysts and researchers have hands-on experience in various regions, including Asia-pacific, Europe, North America, and the Rest of the World. The market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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