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Global RFID Equipment Market: Overview

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.

Global RFID Equipment Market: Competitive Landscape

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:

  • Savi Technology, Inc.
  • Intermec Inc.
  • Zebra Technologies Corporation
  • NXP Semiconductors
  • Avery Dennison
  • Checkpoint Systems Inc.
  • Gemalto NV
  • Motorola
  • Alien Technology
  • Impinj

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.

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Global RFID Equipment Market: Key Trends and Drivers

  • E-commerce is a growing industry that needs innovative logistical solutions given the sheer volume it witnesses. It is pertinent to note here that 1.4 billion smart phones were sold in 2016 alone, making each individual a potential customer to reach out to for e-retailers. This calls for efficient and automated processes like RFID.
  • Another driver for this technology is its demand in automating industries. The industrial automation market is due to hit a valuation of 286 billion USD by 2026. This is because automation saves on human employment for repetitive jobs and increases efficiency by up to 26%, according to a recent study. RFID technology is a crucial part of this drive.

Global RFID Equipment Market: Regional Analysis

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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This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Rfid Equipment Market

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