Global RFID Sensor Market: Snapshot
RFID tags are sensors that have found use in measuring wide range of physical variables. Some of the popular applications are gas piping systems, movement detection, and cold chain monitoring. Use of RFID readers have enabled them to assess measurements that need remote measurement. Advances in wireless data communication technologies have played a key role in RFID sensors. Over the recent years, RFID sensors have found new avenue in internet of devices (IoT) market. The window of opportunity has stemmed from the motivation of using IoT in smart city technologies. RFID can be an enabler of such a framework, where engineers can harness the sensor technology to build a pervasive network environment. Growing government spending on smart cities and environment is a key trend propelling the use cases of IoT in the ecosystem.
Another promising application is in health care industries where sensors play a key role in advancing the potential of telehealth particularly remote monitoring. A wide array of applications are coming to the fore in the RFID market. Of all, chemical industries is one of the most prominent generator of revenues. A growing body of research in expanding the RFID tag-sensor configuration is opening new avenues in the RFID sensor market.
The RFID Sensor is an automatic identification technology, which uses radio frequency electromagnetic fields to identify objects carrying tags. RFID is a technology analogous to barcodes. However, the RFID tag isn't required to be checked directly nor does it require line-of-sight to a peruser. The RFID tags must be inside the scope of an RFID peruser, which ranges from 3 to 300 feet, to be perused.
The global RFID sensor market has witnessed significant growth since last few years and anticipated to grow at a decent rate in the coming future. The RFID sensors are employed to serve various equipment of multiple industry applications including retail, transportation, security & surveillance, and aerospace & defense among others. Due to wide applications for numerous industry verticals has resulted in increasing demand among manufacturers which is propelling the growth of the global RFID sensor market during the forecast period. The primary factors driving the global RFID sensor market include augmented awareness regarding the significance, technological advancements, rising need for efficiency in supply chain, vigorous security in the wide application area such as in tracking and production process, in inventory management, rise in the demand for tracking inventory & equipment in businesses. RFID helps to manage to update of stocks, and it makes operation convenient for supply chain management in retail business during transportation & logistics of products. These factors are creating opportunities for the growth of global RFID sensor market during the research study. Also, increasing technological development in the automotive sector is anticipated to fuel the growth of the global RFID sensor market.
However, some of the restraining factors such as high cost of RFID sensor, tags collision is hampering the growth of the global RFID sensor during the research study.
The global RFID sensor can be segmented on the basis of type, product, frequency band, application, end use industry, and geography. Based on type the global RFID sensor market has been segmented into active RFID sensor and passive RFID sensor. On the basis of the product, the global market can be segmented into tags, reader, and software. Furthermore, based on frequency band the global market can be segmented into low frequency, high frequency, and ultrahigh frequency. The application segment can be segmented into access control, livestock tracking, cashless payment, inventory management, and ticketing. Based on the end-use industry the global RFID sensor market can be segmented into transportation and logistics, healthcare, hospitality, food and beverages, retail, manufacturing, government, and others. Based on geography, the global market has been segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Among all the regions, North America is anticipated to dominate the global RFID sensor market followed by Europe during the research study. This is mainly due to high investment in research and development activities, constant technological innovations, the presence of leading companies, and colossal adoption rate by the sectors across the region.
Some of the emerging players involved in global RFID sensor market include Honeywell International Inc., Checkpoint Systems, Inc., AVERY DENNISON CORPORATION, Impinj, Inc., Motorola Solutions, Inc., Savi Technology, CAEN RFID S.r.l., Invengo Technology Pte. Ltd., AWID, and Alien Technology, LLC. among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.