12-Oct-2018 | Zion Market Research
Some of the major players in RFID equipment market are Intermec Inc., Savi Technology, Inc., NXP Semiconductors, Zebra Technologies Corporation, Checkpoint Systems Inc., Avery Dennison, Motorola, Gemalto NV, and Alien Technology amongst others. These players are set to tower the RFID equipment market in the near future.
According to the report by Zion Market Research, global RFID equipment market was capitalized at almost USD 8.66 Billion in 2016. The RFID equipment market is likely to cross almost USD 25.40 Billion by end of 2022, developing at a CAGR of slightly more than 19.60% from 2017 to 2022.
Browse the full " RFID Equipment Market by Product (Tags, Reader, and Software), Wafer size (200mm, 300mm, and others), Frequency (Low, High, and Ultra-high), Applications (Aerospace, Defense, Healthcare, Animal Tracking, Retail, Sports, Security and Access Control) and Region (North America, South America, Europe, Asia Pacific, the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022" report at https://www.zionmarketresearch.com/report/rfid-equipment-market
Employment Of RFID Technology In Inventory Management Likely To Power The Development Of RFID Equipment Market In Years To Come
RFIDs are widely used in different sectors such as logistics, healthcare, security, transportation, automotive, access control, retail, sports, aerospace, animal tracking, and defense among others. Due to its broad employment, the RFID equipment market is likely to see a noteworthy development in near future. Moreover, the low cost of RFIDs and rising employment of RFID tech in different verticals are likely to be the major boosters towering the development of RFID equipment market. Apart from this, the employment of RFID technology in inventory management is likely to power the development of RFID equipment market in the years to come. Inventory management includes keeping track of objects or products, monitoring the quantity of finished goods, and storage of components needed for manufacturing. This is likely as one of the important boosters of RFID equipment market since a slight negligence in inventory management can result in a considerable financial loss. Different M&A by major players is also set to boost the RFID equipment market. For example, in October 2017, CCL Industries Inc. declared that it has purchased the rest of 37.5% minority shares for almost $6.3 Million in its Acrus CCL venture.
Moreover, various governments have made animal tagging obligatory so as to monitor & track the animals employing their unique AIN (Animal Identification Number). On the other hand, high maintenance cost and installation price of RFIDs are likely to be the factors hampering the development of RFID equipment market. Device inoperability when at a distance from the hostile environment is a major hurdle for RFID equipment market. In years to come, the wide employment of RFIDs in healthcare, public transportation, and animal tracking is likely to offer major potential avenues for RFID equipment market.
The segmentation of RFID equipment market is made based on wafer-size, product, applications, frequency, and region. Based on the product, the classification is reader, tags, and software. Based on of wafer-size, RFID equipment market is divided as 300 mm, 200 mm, and others. Frequency wise the bifurcation are high, low, and ultra-high frequencies.
The global RFID equipment market is segmented as follows:
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