The radio frequency identification sensor is an automatic identification technology, which positively utilizes the radiofrequency electromagnetic fields to recognize the objects carrying tags. The radio frequency identification similar to bar codes whereas, the RFID tag is not demanded to be the scanned straight nor does it demand line-of-sight to a reader. The RFID tags must be within the assortment of an RFID reader, which ranges from 3 to 300 feet, to be read. Not only has this, but the growth of this market is also predicted to be enlarging at an effective CAGR during the review duration. This can be accredited to the foremost factor namely the effective growth in the demand for decreasing the operating price. The foremost growth in the requirement for proficient supply chain management the number of patient visits to the hospitals is also some of the foremost influencing aspects.
According to the report analysis, ‘Global Radio Frequency Identification Market Size the study, by Products (Tags, Readers, and Software), by Tags (200mm, 300mm and Others) by Tag Type (Passive RFID and Active RFID) by Frequency (Low Frequency, High Frequency, Ultra-High Frequency, and Active Ultra-High Frequency) and by Application (Agriculture, Commercial, Transportation, Healthcare, Logistic and Supply Chain, Aerospace, Defense, Retail, Security and Access Control and Sports ) By Form Factor (Button, Card, Implants, Key Fob, Label, Paper Tickets, Wristband and Others) By Material (Plastic, Paper, Metal, Glass and others) and Others and Regional Forecasts 2018-2025’ states that in the worldwide radio frequency identification market, there are numerous players which recently performing for leading the fastest market growth and accounting the great value of market share around the globe in the upcoming years more progressively while developing the applications of technology, decreasing the price of the product, improving the productivity of the product and delivering the better consumer satisfaction includes Alien Technology, Applied Wireless RFID, Avery Dennison, Caen RFID, Checkpoint Systems, GAO RFID, Globeranger, Impinj, Invengo, Mojix, Motorola, Nedap, NXP Semiconductors, Smartrac Technology, Thingmagic, and several others.
Additionally, the worldwide radio frequency identification market comprises products, tags, tag type, frequency, and application. The products sector is further divided into tags, readers, and software, tags segment involves 200mm, 300mm, and several others. Tag Type is fragmented into Passive RFID and Active RFID. The frequency sector is sectored into low frequency, high frequency, ultra-high frequency, and active ultra-high frequency and application sector involves agriculture, commercial, transportation, healthcare, logistics, and supply chain, aerospace, defense, retail, security and access control, and sports. The form factor is further categorized into a button, card, implants, key fob, label, paper tickets, wristband and several others by material include plastic, paper, metal, glass, and several others.
In addition, the effective growth in the installation of Radio frequency identification (RFID) in retail and manufacturing units for productivity and security enhancement is predicted to propel the market. According to the India brand equity Foundation (IBEF), India’s retail market is anticipated to augment by 60% and to reach 1.1 trillion USD in 2020. Additionally, According to the U.S retail industry in 2015 United States retail segment marked a 50% larger share than China. The effective growth in the retail segment worldwide is predicted to influence the RFID market. Therefore, in the coming years, it is anticipated that the market of radio frequency identification will increase around the globe over the upcoming years more progressively.
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Ankur Gupta, Head Marketing & Communications