Market Overview
Radio-Frequency Identification in the form of radio waves captures necessary information stored on the tag of a device. This technology is widely preferred among various industries. It helps store the information of the product electronically.
The Radio-Frequency Identification (RFID) Market is highly used among industrial verticals like the logistic and manufacturing industry. It is even used in warehousing to keep track of the products. This technology helps gather data and information with the help of RTLS, which helps analyze the location and identify assets and goods.
The market value is increasing day by day because of its multiple features. It is immensely getting recognition due to the wide usage of electromagnetic fields, which can automatically identify and track objects with tags attached to them. The tags have all the necessary information digitally in manufacturing date, expiry date and serial number. The massive usage of these tags is accelerating the demand for Radio-Frequency Identification (RFID) Market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/3189
The industrial verticals such as the healthcare industry, manufacturing, and warehouse are driving the market’s growth. The Radio-Frequency Identification (RFID) Market is noticing sheer demand due to the higher usage of security and access control applications, the need for an accurate data unit, and the demand for effective store handling. These factors will boost the market to reach its estimated growth value during the evaluation period.
The pandemic period has shown a harsh impact on the market. The sales department has noticed a decrease in demand which hampered the production. The lower investment in the market led to huge economic losses. The government and the market players planned marketing strategies and effective measures to recover from the situation by noticing the decreased growth rate. These initiatives will let the market grow significantly in the future days.
The Radio-Frequency Identification (RFID) Market is estimated to register a CAGR of 15.6 % and a value of USD 31.8 Billion during the forecast period.
Market Segments
The Radio-Frequency Identification (RFID) Market is segregated into components, product type, wafer size, Frequency, geography, and industry vertical.
The component section of the market is divided into Passive RFID, Active RFID, and Other. The wafer size is classified into different sizes such as 200mm, 300mm, 450mm, and Others.
The product type has tags, readers and software. It is classified into low frequency, high frequency, ultra-high frequency, and active Ultra-High Frequency based on the frequency.
Regional Analysis
The Radio-Frequency Identification (RFID) Market shows its growth in major continents like the Asia Pacific, North America, Europe, and the Rest of the World.
Among all the market regions, the North America region is capturing the highest market share, followed by Europe and Asia-Pacific region. According to the report, the European region is noticing a rapid growth rate due to the storage and tracker solution provided by the Radio-Frequency Identification. Moreover, Asia-Pacific countries like Japan, China, and India are registered to be the fastest-growing market due to the increased size of high data generation in developing countries.
Get complete Report @ https://www.marketresearchfuture.com/reports/radio-frequency-identification-market-3189
Industry News
Macy’s has boosted its usage of radio-frequency identification (RFID) technology to protect its assets due to the rising reports of high-profile retail thefts increasing across the U.S regions.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: sales@marketresearchfuture.com
Website: https://www.marketresearchfuture.com
No comments:
Post a Comment