The Global Market for Radio Frequency Identification (RFID) Technology is Projected to Reach US$15.5 Billion by 2020

Rapidly Emerging Applications Promise Huge Growth for the RFID Technology Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Radio Frequency Identification (RFID) Technology market. The global market for Radio Frequency Identification (RFID) Technology is projected to reach US$15.5 billion by 2020, driven by new application opportunities in the retail and healthcare sectors.

A class of Automatic Identification and Data Capture (AIDC) technology, Radio Frequency Identification (RFID) involves the use of radio waves for automatically identifying and capturing information about a target object or a person. Although there are several methods of identification, the most common involves the use of RFID technology, given its ability to identify and capture data of a target object in real time and deliver quick and reliable results. Identifying objects or people with RFID technology helps simplify several operational functions. Having established itself as a highly efficient technology serving supply chain & inventory management, asset tracking, and logistics functions in a range of end-use areas, RFID technology will continue to find new opportunities over the next few years, given the tremendous value proposition offered to users. RFID has already gained strong foothold in application areas such as transportation/automobile, security & access control, animal tracking and farming, and logistics. In the coming years, the technology is forecast to break the confines of its mainstream markets and expand into non-traditional markets such as retail/consumer goods, medical & healthcare, manufacturing, leisure & sports, airlines & airports, etc. Baggage handling, contactless ticketing, asset management, contactless payments, electronic identification documents are some of the use case scenarios for RFID in the airlines and airports sector.  

As stated by the new market research report on Radio Frequency Identification Technology, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 9.3% over the analysis period. RFID Tags represent the largest market segment accounting for a majority share in total revenue as of the year 2015. RFID Readers is forecast to emerge as the fastest growing product market over the analysis period. Transportation represents the largest end-end market, while Consumer Products & Retail represent markets with the strongest growth potential.

Major players in the market include 3M Company, ACTAtek Technology Inc., Alien Technology, Ascendent ID, Avery Dennison Corporation, Axcess International, Inc. , BISA Technologies (Hong Kong) Limited, Black Creek Integrated Systems Corporation, Brady Corporation, BT Global Services, Checkpoint Systems Inc., Confidex Ltd. , Copperspiral RFID Technologies Pvt. Ltd., CoreRFID Ltd., GlobeRanger Corporation, HID Global Corporation, Honeywell International Inc., Impinj, Inc., Invengo Information Technology Co., Ltd. , NXP Semiconductors, Omni-ID Ltd. , Protrac iD Pty Ltd, RFID, Inc., Savi Technology, Inc., Shanghai Super Electronic Technology Co., Ltd. , Shenzhen DDCT Technology Co., Ltd., SMARTRAC N.V. , TagMaster AB, TagSys RFID, Texas Instruments Inc. , Wavetrend Limited, and Zebra Technologies Corporation among others.

The research report titled “RFID Technology: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe  (France, Germany, Italy, UK, Spain, Russia, The Netherlands, and Rest of Europe), Asia-Pacific (China, South Korea, and Rest of Asia-Pacific), Middle East & Africa and Latin America.  Key Product Segments Analyzed include RFID Tags, RFID Readers and Others (includes Software, Networking, and Services). End-Use segments analyzed in the report include Security & Access Control, Transportation, Manufacturing & Logistics, Consumer Products & Retail, Farming & Animals and Others (includes Medical, Healthcare, Sports, Airlines, and Airports among Others).

Global Industry Analysts, Inc. 6150 Hellyer Ave., San Jose CA 95138, USA, All Rights Reserved.

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