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RFID Market: Retail sub-segment is predicted to generate a revenue of $4,275.9 million by 2027 with a CAGR of 8.9%
The sample will give the stakeholder an outline of the report. It will give an overview/framework of the aspects of the market that have been covered in the content of the actual report. The report, unlike the sample, will bear numerical data and market insights associated with a price.}
Global RFID Market Analysis
Increasing demand of the RFID in the commercial sector by multiple end-use industries is predicted to be the major driving factor for the global RFID market in the estimated period. These are also used for tracking of any product or understand production line of different operations and this factor is predicted to drive the global market in the estimated period. For instance, the use of RFID technology in end-use industry will help the manufacturer to achieve the production goal by closely monitoring the product line.
High cost of RFIDs along with installation and maintenance cost is predicted to hinder the global RFID market in the estimated period. The implementation of RFID by the end-use industries requires higher investment that includes purchasing of RFID tags, adopting the tags and reader, and maintain the RFID cost. The RFID tags can be attached to physical money, clothes, or can be implanted in animals and humans for reading personally linked information without consent which give rise to privacy concerns. Moreover, the high cost of RFIDs results in an expensive installation process causing difficulties for small and medium enterprises and start up organizations to adopt the technology. This factor is expected to hamper the growth of the market during the forecast period.
RFID Market, Segmentation
The global RFID market is segmented based on product, type, material, frequency, end-user and region.
Product:
The product segment is further classified into tag and reader. Among these, the reader sub-segment is anticipated to have the fastest growth rate in the estimated period. It has been estimated that the sub-segment is predicted to grow with a CAGR of 9.2% by generating a revenue of $8,335.0 million by 2027. The active or passive reader are used in most of the end use industries as the reader tag is used to understand the complete details of the product in a most effective manner and this is predicted to boost the sub-segment market in the estimated period.
Type:
The type segment is further divided into passive and active. The active sub-segment is anticipated to have the highest growth rate in the global market. The market is predicted to grow with a CAGR of 10.9% by generating a revenue of $11,089.8 million by 2027. Active tags and readers are powered by battery and thus can be embedded in tracking objects and are used by most of the end-use industries which is predicted to boost the market in the estimated period.
Material:
The material segment is further divided into plastic, paper, glass, metal, and others. The plastic sub-segment is predicted to grow with a CAGR of 10.6% by generating a revenue of $4,457.5 million by 2027. Plastic can be considered as one of the best materials for the use of RFIDs because it is the most cost-effective option which is predicted to boost the sub-segment market in the estimated period.
Frequency:
The frequency segment is classified into low frequency, high frequency, and ultra-high frequency. Ultra-high frequency sub-segment is predicted to grow with a CAGR of 10.3% by generating a revenue of $10,548.9 million by 2027. Ultra-high frequency helps in faster data transfer, increases the inventory visibility, and automates workflow due to which various end-use industries use RFID tags, which is predicted to boost the sub-segment market in the forecast period.
End-User:
The end-user segment is further categorized into retail, BFSI, government, industrial, transport and logistics, healthcare, and others. The retail sub-segment is predicted to generate a revenue of $4,275.9 million by 2027 with a CAGR of 8.9% in the estimated period. Retail helps to trace the items against individual shipments and provides smoother operational flow which is predicted to boost the sub-segment market in the estimated period.
Region:
The RFID market for the Asia-Pacific region is projected to witness rapid growth. This market generated a revenue of $2,495.6 million in 2019 and is further projected to reach up to $5,648.1 million by 2027. The companies present in the market are investing more for research and development for developing product, which is predicted to boost the driving factor for the region market in the estimated period. Moreover, presence of skilled labor along with less pay scale is a favorable factor for RFID manufacturers to set up units in the region, and this is predicted to boost the market in the estimated period.
Key Players in theGlobal RFID Market
Honeywell
NXP Semiconductors
Avery Dennison
Zebra Technologies
Impinj
HID Global
GAO RFID
Identiv
Nedap
Invengo
Along with the company profiles of the key players in the market, the report includes the Porter’s five forces model that gives deep insights into the competitive environment of the market.
Porter’s Five Forces Analysis for the Global RFID Market:
Bargaining Power of Suppliers: There are large number of manufacturers present in the market as compared to buyers as the market is very niche. Thus, the bargaining power suppliers is moderate.
Bargaining Power of Buyers: Buyers have lower bargaining power as there are lesser number of buyers present in the market whereas suppliers are more. Thus, the bargaining power of the buyers is low .
Threat of New Entrants: For developing new product a huge investment is required. Thus, the threat of the new entrants is low.
Threat of Substitutes: There are numerous alternative products for RFID market such as barcode tags and barcode readers. Thus, the threat of substitutes is high.
Competitive Rivalry in the Market: Due to the presence of large number of manufacturers there is a huge competitive rivalry among the suppliers and manufacturer. Therefore, competitive rivalry in the market is high.
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The Asia-Pacific region market is expected to lead the foam blowing agents market by garnering a significant revenue during the forecast period from 2019 to 2026, owing to the growing implementation of government policies for environment safety and rising foreign investments in foam blowing agents in Asian countries. Additionally, rising technological developments in foam blowing agents market is projected to lead the global market by garnering a significant revenue during and speedy growth in industrialization in the Southeast Asia are contributing hugely to the growth of the market INQUIRE HERE BEFORE PURCHASE AND GET FREE SAMPLE {What will the sample contain? The sample will give the stakeholder an outline of the report. It will give an overview/framework of the aspects of the market that have been covered in the content of the actual report. The report, unlike the sample, will bear numerical data and market insights associated with a price.} The North-American market of the fo
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