The global RFID market is expected to register a CAGR of 14.5% during 2018 – 2028 with SEA and Others of APAC, Western Europe and North America accounting for significant market value shares by the end of the forecast period.
XploreMR delivers key insights on the global RFID market in its report titled “RFID market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028.” Growth in the value of the global RFID market is estimated to remain attractive as the market is expected to grow continuously at a CAGR of 14.5% in terms of value during the forecast period 2018 – 2028. On the basis of components, the RFID software and middleware segment is expected to register attractive growth over the forecast period. Based on application, the agriculture segment is estimated to gain high penetration in terms of market share during the forecast period.
The annual revenue of the global RFID market was US$ 12,912.0 Mn by the end of 2017, which is expected to grow at a steady pace over the coming years. The dominating regions, i.e., North America, SEA & Others of APAC and Western Europe, are expected to collectively account for a majority share in the global RFID market. These regions are likely to dominate the global market over the forecast period.
Over a decade ago, RFID technology was used by large enterprises. With improvements in technology and economical cost, this technology has been adopted by small and medium enterprises. RFID technology is widely used by all tier companies to streamline operations and enhance the visibility of their supply chain and logistics operations. The usage of RFID technology in automated item identification systems is gaining importance in the retail sector.
Radio Frequency Identification Market: Revenue to Grow at a CAGR of 14.5% During 2018–2028, Driven by Integrating RFID Technology with IoT and Big Data Platforms for Real-time Data AccessBuy Now
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