RFID Equipment Market - Global Industry Analysis

RFID Equipment Market

RFID Equipment Market Industry Share, Size, Statistics & Forecast 2028

Category: Technology & Media Report Format : PDF Pages: 150 Report Code: ZMR-2348 Published Date: Aug-2021 Status : Published

Table Of Content

Methodology

Free Analysis

Radio Frequency Identification (RFID) is the technology which uses electromagnetic fields to automatically track the tags attached to objects. The tags contain electronically stored information which is read by using radio waves. Advancements in RFID technology has resulted in real-time tracking of objects, animals, and other things. The information on the tag can be read from a distant location and need not be within the line-of-sight of the reader. The RFID system consists of two parts: a tag and a reader. Tags are embedded with a transmitter and a receiver. A reader which is a two-way radio transmitter and receiver; which emits a signal to the tag using an antenna, to read the information encoded on the tag. The tag responds with the information present in its memory slot. Then the reader will transmit the collected data to a RFID computer program.

The chip-less factor of RFID has given it a new dimension of tracking the objects, due to which various verticals find the use of RFIDs. The lower prices of RFID tags or labels and the increasing use of RFID technology in various verticals are expected to drive the growth of this market. One of the main drivers for this market is the rising need for inventory management. Inventory management involves keeping track of products, assets or objects, storage of components required for production and monitoring the quantity of finished products. Any negligence in inventory management can lead to substantial financial losses. Further, RFIDs are widely used in healthcare industry ranging from patient identification, tracking medical equipment and for several other functions. Due to the use of RFIDs in various industries such as healthcare, logistics and transportation, aerospace, warehouse and distribution activities, security and access control applications, animal tracking, automotive, defense and military, retail, sports and others this market is anticipated to witness significant growth in the forecast period. RFIDs are used for tagging of animals. The ear tag is a plastic or metal object used for the identification of domestic livestock and other animals. This is expected to be an important driver for RFID equipment market as various governments are making it mandatory to tag the animals so that they can be monitored and tracked using their Animal Identification Number (AIN). However, presently high installation cost of RFID systems is a major factor restraining the growth of this market. In addition, the necessary maintenance for both tags and readers has often led to an unexpected level of through-life maintenance cost which also is a restraint for the market. The inoperability of the device away from hostile physical conditions is expected to be the main challenge for this market. In coming years, the wide use of RFIDs in public transportation, healthcare, animal tracking is expected to provide major potential opportunities for RFID equipment manufacturers.

Global-RFID-Equipment-Market

The market is segmented on the basis of product, wafer size, frequency, applications, and region. On a product basis, the market is segmented as tags, reader, and software. Under wafer size, it is categorized as 200mm, 300m, and others. Whereas, on a frequency basis, they are divided into low, high, and ultra-high. Further application wise they are categorized into aerospace, defense, healthcare, animal tracking, retail, sports, security and access control, transportation and others. Regional segmentation is as North America, South America, Europe, Asia Pacific, the Middle East and Africa.

The some of the leading players operating in the global RFID equipment market are Avery Dennison, Alanco Technologies, Inc, Hitachi Ltd., Savi Technology, Inc., Intermec Inc., Motorola Inc., NXP Semiconductors and Zebra Technologies Corporation amongst others.

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