The global radio frequency identification (RFID) technology market is estimated to reach USD 40.5 billion by 2025,
according to a new report by Grand View Research, Inc. The industry is expected
to witness a steady growth owing to the increasing demand from the retail
sector and the healthcare industry.
Global RFID technology market, by application, 2014 - 2025 (USD Billion) |
RFID technology has been in use for several years now;
however, the recent growth in its applications across a wide set of industries,
such as retail, transport, medical, and defense, among others, has spurred its
adoption. The retail industry is at the forefront and has witnessed its
technological reconnaissance with the use of RFID tags. An interesting fact of
the retail sector is the way it has successfully passed on the benefits of the
technology to other industries in the supply chain with the help of the mandates.
An important aspect of the RFID technology market is
the varying nature of manufacturing and evidently the related costs. The past
decade has seen a considerable reduction in the production costs with the
advent of many new technologies such as printing and ink-jet. As the vendors
benefit from these trends in the market, the increasing penetration of
cost-to-volume benefits is expected to perpetuate to the end users.
RFID devices are anticipated to witness a surge in
demand as the technological proliferation has led to an extensive use of smart
cards, access control, and other NFC applications. In addition, the use of
Ubiquitous Sensor Networks (USNs) and many short-range wireless communications,
such as WiFi and Zigbee, is expected to help in the RFID market growth. To sum
up the trends in the market, the RFID industry is anticipated to witness a
healthy growth in the coming years with technology, cost, and size fueling its
rapid deployment.
Access
Full Research Report by Grand View Research: http://www.grandviewresearch.com/industry-analysis/radio-frequency-identification-rfid-technology-market
Further
key findings from the study suggest:
- Government and industry specific mandates are
expected to play a vital part in the deployment of RFID devices.
- The key focus of industry veterans is RFID tags
while emphasis laid on frequency bands and size optimization.
- Numerous research and development activities are
being carried out as the industry participants vie for the technological
edge.
- The impact of global technology trends, such as
Internet of Things (IoT) and wearables, is prominent on the market and is
expected to define the industry’s direction for the next decade.
- The industry is fragmented in nature and there
are several regional and global players operating in the market at various
levels of the value chain.
Browse more reports of this category
by Grand View Research:
http://www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand
View Research has segmented the Radio Frequency Identification (RFID)
technology market on the basis of products, frequency, application, and region:
Product Outlook (Revenue, USD
Million; 2014 - 2025)
- RFID Tags
- RFID Readers
- Middleware
Frequency Outlook (Revenue, USD
Million; 2014 - 2025)
- Low Frequency
- High Frequency
- Ultra-high
frequency
Application Outlook (Revenue,
USD Million; 2014 - 2025)
- Retail
- Financial
Services
- Healthcare
- Industrial
- Government
- Transport &
Logistics
- Others
Regional Outlook (Revenue, USD
Million; 2014 - 2025)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East &
Africa (MEA)
Access press release by Grand View
Research: http://www.grandviewresearch.com/press-release/global-radio-frequency-identification-rfid-technology-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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