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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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.
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 Market Global Market – Segmentation
- Segmentation by Product Type: Tags, Reader, Software, and Others
- Segmentation by Wafer size: 200mm, 300mm, 450mm and Others
- Segmentation by Components: Passive RFID, Active RFID and Others.
- Segmentation by Frequency: Low Frequency, High Frequency, Ultra-high Frequency, and Active Ultra-High Frequency
- Segmentation by End-user: Manufacturing, BFSI, IT/ITES, Healthcare, Transportation, Logistics and Supply Chain, Aerospace, Defense, Retail, Sports, Government and Others
- Segmentation by Region: North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Radio Frequency Identification Market Global Market – Regional Analysis
North America is expected to dominate the global radio frequency identification market with the largest market share in the region. The U.S and Canada are the leading in the region. This is attributed to increased adoption of RFID tags in retail sector. Furthermore, Asia Pacific is anticipated to be the fastest growing region over the forecast period due to rapidly increasing healthcare sector and rising need for RFID solutions in medical equipment such as ECG monitors, syringe drivers and many more. China, India, and Japan are the leading countries in the region. Europe is also expected to gain a substantial growth over the forecast period due to advanced infrastructure in defense sector.
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- Software investors
- Security solution vendors
- RFID service providers
- Value-added Resellers
- Investors and Venture Capitalist
- Security Management Service Provider
- Security Equipment Providers
- Security Agencies
- System Integrators
- Research/Consultancy firms
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