Radio Frequency Identification Market Global Market- Overview
Radio frequency identification, or RFID, is an advanced technology that comprises small tags which in purposes is to transfer the signals. This RFID devices are extensively used in retail sector which are used as remote scanners to detect the RFID tags deployed on individual products, allowing them to register a variety of information, including quantities of inventories and trace the product in various location. Considering, the technical aspects the RFID are categorized based on low frequency which transmit the signals 30KHz to 500KHz, high frequency (HF) which ranges from 3MHZ to 30MHZ, and ultra-high frequency which ranges 300 MHz to 960 MHz. These RFID are widely used in different industrial verticals such as healthcare, manufacturing, retail in supermarkets, and many more. However, with the advancement technology, the integration of RFID with IoT and GPS are expected to be a better prospects over the forecast period. On the flip side, the security and privacy concerns are major challenging factors for the RFID market over the forecast period.
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Industry News
February 2018, Panasonic and Trial Company had come aligned to engage the demonstration the first RFID based walk through checkout system solution. By this process, customers can automatically pass through checkout lane with their shopping bags containing RFID tags. This combination will scan the information and by default scan the product and payment would automatically will be detected through the prepaid cards which eventually reduce the checkout time.
January 2018, Blockchain industry leaders, Waltonchain, one of the Chinese and Korean developers who implements Radio Frequency Identification (RFID) to streamline businesses’ supply chain management and Loci,one of the platform providers of IP inventions and mining, had come aligned for a strategic partnership. This partnership will create the ocean of opportunities for Waltonchain to create more progressive inventions and innovations with the help of resources provided by Loci and their platform for IP research and development, marketplace and business enagagement.
Key Players
The prominent players in the Radio-Frequency Identification (RFID) Market are: NXP Semiconductors N.V (Netherlands), Alien Technology (US), 3M Company (U.S), ACTAtek Technology (U.S), Axcess International, Inc. (U.S), : Impinj Inc. (US), Ascendent ID (U.S), ), Checkpointt System Inc. (U.S), and Avery Dennison Corporations (US), among others.
Radio-Frequency Identification (RFID) Market Segmentation
The Radio-Frequency Identification (RFID) Market has been segmented on the basis of product type, wafer size, components, frequency, end users and region. Looking through the end-user segment it has been observed that healthcare sector is showing a rapid growth of usage of the RFID technology as it is being used widely in this sector for the medicine tracking, medical reports and blood transfer tracking. Furthermore, defense and the government sector is expected to grow as real time intelligence and NFC are getting good overview in these sector
Market Research Analysis:
On geographic basis, Radio-Frequency Identification (RFID) Market is studied in different regions such as North America, Europe, Asia-Pacific and Rest of world. It has been observed that the growth of the North America RFID market during the forecast period. RFID stores detailed information related to the product on which it is tagged. The prices and details of the products with RFID tags are automatically recorded when the customer approaches the counter, without the need to scan each and every product, which saves the time of the customer. Moreover, it allows cost tally in one scan, which saves the time of the user as well as the product retailer. These advantages have encouraged retail and manufacturing companies to adopt RFID for tagging their products.
In the European region there has been a major focus onto the drug tracking to equipment and patient identification to monitoring blood transfer and supply chain and is expected to boost the radio frequency identification market in this region. However, Asia Pacific region has been significantly growing well in Radio-Frequency Identification (RFID) market as these are the long term benefits which include cost savings, improved accuracy, and enhanced automation
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TABLE OF CONTENTS
1 Market introduction
1.1 Introduction
1.2 Scope Of Study
1.2.1 Research Objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure:
1.3.1 Global Radio-Frequency Identification (Rfid) Market: By Product Type
1.3.2 Global Radio-Frequency Identification (Rfid) Market: By Wafer Size
1.3.3 Global Radio-Frequency Identification (Rfid) Market: By Components
1.3.3 Global Radio-Frequency Identification (Rfid) Market: By Frequency
1.3.4 Global Radio-Frequency Identification (Rfid) Market: By End User
1.3.5 Global Radio-Frequency Identification (Rfid) Market: By Region
2 Research Methodology
2.1 Research Product Type
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
3 Market dynamics
3.1 Introduction
3.2 Market Drivers
3.3 Market Challenges
3.4 Market Opportunities
4 Executive Summary
5. Market factor Analysis
Continued…
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