Radio Frequency Identification (RFID) Market worth a staggering $41.93 billion | GAO RFID Inc, Applied Wireless Identifications Group, Inc., Intermec, Inc., STiD, Sato Holdings Corporation, Invengo Information Technology Ltd. Co., Impinj, Inc., CAEN RFID S.r.l., Motorola Solutions
Global Radio Frequency identification Market is accounted for $18.61 billion in 2017 and is expected to reach $41.93 billion by 2026 growing at a CAGR of 9.4% during the forecast period.
Technological advancements in the UHF technology and high adoption of RFID technology in the retail industry and demand of electromagnetic fields that automatically identify and track tags attached to objects are some of the key factors fuelling the market growth. However, the high installation costs of an RFID system are hampering the market growth.
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Radiofrequency identification (RFID) is a system based on wireless technology which utilizes radio waves for collecting data from a tag connected to an object, for various purposes like automatic identification and tracking of objects. These tags are used to store the product information electronically and also can be analyzed the object from distance. The RFID offers automatic item recognition on shipping & receiving applications, mixed pallets, and helps monitor unattended items in the store.
By frequency, the ultra-high frequency tags are estimated to have considerable growth in the market. UHF RFID is used in a wide variety of applications, ranging from retail inventory management to pharmaceutical anti-counterfeiting, to wireless device configuration. The UHF frequency band covers the range from 300 MHz to 3 GHz. The ultra-high frequency Devices has overtaken the high-frequency tags in terms of volume.
Based on Geography, the Asia Pacific region is anticipated to have significant growth the during the forecast period owing to the increasing demand from developing countries, such as China and India. The existence of various manufacturers and OEMs in this region is also favorable to the region’s growth.
Some of the key players in the radiofrequency identification market are Alien Technology Corporation, GAO RFID Inc, Applied Wireless Identifications Group, Inc., Intermec, Inc., STiD, Sato Holdings Corporation, Invengo Information Technology Ltd. Co., Impinj, Inc., CAEN RFID S.r.l., Motorola Solutions, Inc., Nedap, NXP Semiconductors, Honeywell Aids, Zebra, Vizinex RFID, Savi Technology, Trackx, HID Global and Omni-ID.
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