RFID is an acronym for Radio Frequency Identification. The readers can detect an RFID tag on a product from various distances, depending on the power of the one installed. Logistics have been given a major boost by the introduction of this technology. Functions that required massive human investment are done without any wastage of resources or time. With the world becoming increasingly automated, technologies like RFID are set to find increased demand in the future, notes TMR for the period 2020 to 2030.
The global RFID equipment market is fragmented owing to the presence of a number of manufactures. Some of the top manufactures in the market are:
These manufactures are looking to expand production by acquisition of component factories that make various sub parts of this assembled product. Increasing market outreach by advertisements is also being noted.
Being forerunners in technology, North America and Europe are currently global leaders in the RFID Equipment market. They capitalize on a robust industrial infrastructure and keen focus on innovation.
Asia Pacific region is expected to register the fastest growth in the RFID market given the rapid ascent to technological innovation and a booming industrial sector. An existing broad manufacturing base for electronics makes this region lucrative.
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