The analysts forecast global RFID tags market for livestock management to grow at a CAGR of 13.87% during the period 2018-2022. The latest trend gaining momentum in the market is advances in technology.
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The growing demand for technological solutions for tracking of objects by several industries has raised the demand for RFID tags.
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These RFID tags are in high demand due to their ease of automatic identification and capability to share data without any physical contact between reader and tags through radio waves. RFID has profound various applications in different industries such as agriculture, transportation, aerospace, information technology (IT), logistics, and others.
However, the need for high setup cost such as IT infrastructure, which includes database, servers, and inter- or intra-networks, further adds to the cost of deployment of RFID devices. Moreover, the adaption rate of this RFID technology is low in developing countries owing to its high cost.
Major key players in the global RFID tags market for livestock management: Aleis, Allflex , HID Global, National Band & Tag Company, Omnia Tags, and SafeTag.
According to the RFID tags market report, one of the major drivers for this market is Growing concerns related to animal health will boost the demand for RFID tags. The growing occurrences of animal diseases and health concerns are important drivers of the global RFID tags market for livestock management.
These factors are expected to drive the market growth during the forecast period. The growing concerns and cases of the livestock getting affected by severe chronic diseases have driven the need for regular monitoring of livestock.
Hence, these factors have fueled the revenue growth of the global RFID tags market for livestock management to a certain extent.
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Further, the RFID tags market report states that one of the major factors hindering the growth of this market is Threat of disruption in RFID frequencies. RFID systems used for livestock management work in the electromagnetic spectrum and can be easily disrupted, similar to mobile phones network disruption.
This disruption of RFID signals may lead to heavy losses of data, especially in livestock management, where these data are used to manage and maintain the information and operations of animals and their related production. The disruption of RFID signals of any active RFID tag may lead to wear out of battery in the system, leading to disruption of the entire system periodically.
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Few Points from List of Exhibits:
Exhibit 1: Parent Market
Exhibit 2: Global Rfid Market
Exhibit 3: Market Characteristics
Exhibit 4: Market Segments
Exhibit 5: Market Definition - Inclusions and Exclusions Checklist
Exhibit 6: Market Size 2017
Exhibit 7: Validation Techniques Employed For Market Sizing 2017
Exhibit 8: Global Rfid Tags Market For Livestock Management Market Size and Forecast 2017-2022 ($ Mn)
Exhibit 9: Global Rfid Tags Market For Livestock Management Year-Over-Year Growth 2018-2022 (%)
Exhibit 10: Five Forces Analysis 2017
Exhibit 11: Five Forces Analysis 2022
Exhibit 12: Bargaining Power of Buyers
Exhibit 13: Bargaining Power of Suppliers
Exhibit 14: Threat of New Entrants
Exhibit 15: Threat of Substitutes
Exhibit 16: Threat of Rivalry
Exhibit 17: Market Condition - Five Forces 2017
Exhibit 18: Global Rfid Tags Market For Livestock Management by Type of Livestock Market Share 2017-2022 (%)
Exhibit 19: Comparison by Type of Livestock 2017
Exhibit 20: Global Rfid Tags Market For Livestock Management by Cattle Market Size and Forecast 2017-2022 ($ Mn)