The growing demand for data centers has led to the rapid adoption of data center RFID. These RFIDs facilitate the management of the assets of the data centers such as routers, tape media, servers, etc. Increasing data generated in Internet, mobile devices, and IoT devices, among others are expected to drive the demand for the product in the years to come. The report published by Market Research Future (MRFR) has highlighted that the global Data Center RFID Market is poised to strike an exponential CAGR of 36.3% during the assessment period of 2019 to 2024.
Data center RFID offers advantages such as reduction of human labor, which is likely to encourage investments in the market in the upcoming years. Also, the product helps in reducing losses and downtime. This, in turn, is expected to accelerate the demand generation across data center RFID market over the next few years. RFID enables the identification of errors and its rectification, which is one of the primary factors expected to drive market growth in the nearby future.
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The different types of data center profiled in this report on data center RFID market are mid-sized data center, enterprise data center, and large data center.
The segments of the data center RFID market, on the basis of solutions, are readers, antennas, tags, software, and others.
The global data center RFID market, on the basis of services, has been bifurcated into integration services and professional services.
The different types of verticals identified in the segmental assessment of the data center RFID market are BFSI, IT & telecom, government & defense, retail, healthcare, and others.
MRFR recognizes the key players in the global data center RFID market as HP Inc. (US), IBM Corporation (US), Avery Dennison Corporation (US), GAO RFID Inc. (Canada), Impinj, Inc.(US), RF Code Inc. (US), Omni-ID, Ltd.(US), Zebra Technologies Corporation (US), Alien Technology Corporation(US), and Invengo Information Technology Co. (China), Ltd, among others.
The prominent players keep innovating and investing in research and development to present a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
The regional evaluation of the global data center RFID market is offered in this MRFR report on both regional and a country-level basis. The major regional segments of the market are Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). North America is a prime region of the data center RFID market and held the maximum market share in 2018. The presence of key players such as EMC Corporation, Cisco System, Inc., Hewlett-Packard Inc., CyrusOne, etc. in the region is anticipated to influence the growth trajectory of the data center RFID market in the region positively over the next few years. The early and large-scale adoption of data centers in the region has encouraged the expansion of the regional market and is set to exhibit a similar trend in the forthcoming years. Also, the generation of massive amounts of data through social media platforms, various industries, etc. is likely to fuel demand for data center RFIDs in the region over the next couple of years.
Asia Pacific is the fastest growing regional segment of the data center RFID market in the foreseeable future. Rapidly growing demand for digitization is likely to benefit the growth of the regional market in the upcoming years. Large volumes of data generated in different industry verticals, especially in BFSI, is expected to propel the expansion of the market in the region across the projection period.
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