The
global radio frequency identification (RFID) technology market is
estimated to reach USD 40.5 billion by 2025, according to a new report
by Grand View Research, Inc. The industry is expected to witness a
steady growth owing to the increasing demand from the retail sector and
the healthcare industry.
RFID
technology has been in use for several years now; however, the recent
growth in its applications across a wide set of industries, such as
retail, transport, medical, and defense, among others, has spurred its
adoption. The retail industry is at the forefront and has witnessed its
technological reconnaissance with the use of RFID tags. An interesting
fact of the retail sector is the way it has successfully passed on the
benefits of the technology to other industries in the supply chain with
the help of the mandates.
An
important aspect of the RFID technology market is the varying nature of
manufacturing and evidently the related costs. The past decade has seen
a considerable reduction in the production costs with the advent of
many new technologies such as printing and ink-jet. As the vendors
benefit from these trends in the market, the increasing penetration of
cost-to-volume benefits is expected to perpetuate to the end users.
RFID
devices are anticipated to witness a surge in demand as the
technological proliferation has led to an extensive use of smart cards,
access control, and other NFC applications. In addition, the use of
Ubiquitous Sensor Networks (USNs) and many short-range wireless
communications, such as WiFi and Zigbee, is expected to help in the RFID
market growth. To sum up the trends in the market, the RFID industry is
anticipated to witness a healthy growth in the coming years with
technology, cost, and size fueling its rapid deployment.
To Request for Sample Copy of this report: http://www.grandviewresearch.com/industry-analysis/radio-frequency-identification-rfid-technology-market
Further key findings from the report suggest:
- Government and industry specific mandates are expected to play a vital part in the deployment of RFID devices.
- The key focus of industry veterans is RFID tags while emphasis laid on frequency bands and size optimization.
- Numerous research and development activities are being carried out as the industry participants vie for the technological edge.
- The impact of global technology trends, such as Internet of Things (IoT) and wearables, is prominent on the market and is expected to define the industry’s direction for the next decade.
- The industry is fragmented in nature and there are several regional and global players operating in the market at various levels of the value chain.
Read Our Blog: http://www.grandviewresearch.com/blogs/technology
Grand
View Research has segmented the Radio Frequency Identification (RFID)
technology market on the basis of products, frequency, application, and
region:
Product Outlook (Revenue, USD Million; 2014 - 2025)
- RFID Tags
- RFID Readers
- Middleware
Frequency Outlook (Revenue, USD Million; 2014 - 2025)
- Low Frequency
- High Frequency
- Ultra-high frequency
Application Outlook (Revenue, USD Million; 2014 - 2025)
- Retail
- Financial Services
- Healthcare
- Industrial
- Government
- Transport & Logistics
- Others
Regional Outlook (Revenue, USD Million; 2014 - 2025)
- North America
- US.
- Canada
- Mexico
- Europe
- UK
- Germany
- Asia Pacific
- China
- Japan
- India
- South America
- Brazil
- Middle East & Africa (MEA)
Browse Press Release of this Report: http://www.grandviewresearch.com/press-release/global-radio-frequency-identification-rfid-technology-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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