Sarasota, FL, Oct. 04, 2017 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “RFID Equipment Market by Product (Tags, Reader, and Software), Wafer size (200mm, 300mm, and others), Frequency (Low, High, and Ultra-high), Applications (Aerospace, Defense, Healthcare, Animal Tracking, Retail, Sports, Security and Access Control) and Region (North America, South America, Europe, Asia Pacific, the Middle East and Africa): Global Industry Perspective, Comprehensive Analysis and Forecast, 2016-2022’’ . According to the report, global RFID Equipment Market was valued at around USD 8.66 billion in 2016 and is expected to reach approximately USD 25.40 billion by 2022, growing at a CAGR of slightly above 19.60% between 2017 and 2022.
Radio Frequency Identification (RFID) is a small electronic device consisting of a small chip, antenna and a two-way transmitter-receiver called interrogator. Radio waves are used to read the electronically stored information on the tags or objects. The technological advancements in RFIDs have resulted in real-time tracking of objects, animals, and other things by using electromagnetic fields. There are two types of RFID tags namely passive and active. The passive RFID tag does not contain a battery and the power is supplied by the reader.
Browse through 54 Market Tables and 41 Figures spread through 110 Pages and in-depth TOC on "Global RFID Equipment Market: Industry Type, Size, Share, Trends and Forecast 2016 – 2022”.
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Whereas, the active RFID uses an internal power source (battery) within the tag to continuously power the tag.
RFIDs are used widely in various industries such as healthcare, logistics and transportation, security and access control, automotive, sports, retail, animal tracking, aerospace, defense and others. Due to its widened use, the market is anticipated to witness a significant growth in forecast horizon. Further, the increasing use of RFID technology in various verticals and low cost of RFIDs are expected to be the major factors driving the growth of this market. In addition, use of RFID technology in inventory management is expected to boost the growth of RFID equipment market in coming years. Inventory management involves keeping track of products or objects, storage of components required for production and monitoring the quantity of finished products. This is considered as one of the important drivers of this market because a slight negligence in inventory management can lead to a substantial financial loss. Furthermore, several governments have made animal tagging mandatory in order to track and monitor the animals using their unique Animal Identification Number (AIN). However, high installation cost and maintenance cost of RFIDs are expected to be the factors restraining the growth of this market. Device inoperability away from the hostile environment is a major challenge for the market. In coming years, the wide use of RFIDs in public transportation, healthcare, animal tracking is expected to provide major potential opportunities for RFID equipment manufacturers.
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The segmentation of RFID equipment market is made on the basis of product, wafer-size, frequency, applications, and region. On a product basis, the segmentation is tags, reader, and software. Whereas, on the basis of wafer-size RFID equipment market is categorized as 200mm, 300m, and others. Further, frequency wise the classifications are low, high, and ultra-high frequencies. Furthermore, on an application basis, they are divided into aerospace, defense, healthcare, animal tracking, retail, sports, security and access control, transportation and others.
North America accounts for the largest share in terms of revenue for RFID equipment market in the world. The healthcare industry in North America has increased manifold due to government initiatives, increasing operational efficiency in healthcare, the rise in the need for reducing cost, concern about drug counterfeit and safety. The retail sector is contributing a much larger portion of the total share of the RFID equipment market. In North, America USA is the main market dominating in this region. Major Retail Company such as Wal-mart has started using RFID technology in place of barcode technology to improve their business. It will help them reduce theft and counterfeiting. Finding its applications in a number of industry verticals such as security and control access, healthcare, retail, sports, defense, laundry & textile services, logistics and transportation, supply chain, smartcards and others; North America is leading the way in RFID technology.
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The other regions including Asia Pacific, Europe, South America, and the Middle East and Africa are also growing significantly in this market. Followed by North America, Asia Pacific, and Europe are the two fastest growing markets globally. China, Japan, and India are some of the leading countries of Asia Pacific while United Kingdom, Germany, and France are some of the leading countries in Europe. Asia Pacific is expected to be the second largest and fastest growing market after North America, both in terms of revenue and high adoption rate. Asia Pacific and Europe are investing in this market for research and development, equipment manufacturing, supply and distribution, services and software of RFID equipment. The other major verticals worldwide where RFID technology is expected to gain high usage are animal tagging, cash replacement cards, manufacturing, supply chain applications, and transport amongst others. Various regional governments are taking initiatives to promote RFID technology by using them in national IDs, electronic identification and authentication and other applications. One of the major uses of RFID technology is in military or defense sector from every region as it can provide with real-time tracking of the objects connected to the tag.
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Some of the major players in this market are Savi Technology, Inc., Intermec Inc., Zebra Technologies Corporation, NXP Semiconductors, Avery Dennison, Checkpoint Systems Inc., Gemalto NV, Motorola and Alien Technology amongst others.
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The report segments of RFID equipment market is as follows: RFID Equipment Market: Product Type Segment Analysis
- Tags
- Readers
- Software
RFID Equipment Market: Wafer-size Type Segment Analysis
- 200mm
- 300mm
- Others
RFID Equipment Market: Frequency Type Segment Analysis
- Low
- High
- Ultra-high
RFID Equipment Market: Application Segment Analysis
- Healthcare
- Aerospace
- Defense
- Logistics and transportation
- Retail
- Security and access control application
- Automotive
- Animal Tracking
RFID Equipment Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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