Global RFID Market with figures as recent as 2017 and forecasts up to 2024 provides an overview of the industry including its definition, size, share, growth, applications and manufacturing technology. Report also explores the major industry players in detail as well as company profile, product specifications, capacity and production value.
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The Global RFID Market accounted to USD 17.0 billion in 2016 growing at a CAGR of 7.9% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 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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RFID Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.
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The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.
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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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,
- NXP Semiconductors,
- Smartrac Technology,
- Honeywell Aidc,
- Securitag Assembly Group (SAG),
- 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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