Global Radio Frequency Identification Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Radio Frequency Identification Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global radio frequency identification market report has been segmented on the basis of product type, application, and region.

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Global Radio Frequency Identification Market: Overview

Radio frequency identification technology uses electromagnetic fields to automatically identify and track tags attached to objects or individuals. RFID technology is widely used for identification and tracking of assets, animals, and traffic purposes.

Global Radio Frequency Identification Market: Dynamics

Increasing implementation of radio frequency identification technology in manufacturing units for productivity improvement in industries across the globe is a key factor expected to drive growth of the target market over the forecast period. Also, increasing adoption of RFID technology in manufacturing industry, owing to various benefits offered by radio frequency identification technology such as, one time established line of sight, easy modification of tag data, streamline asset tracking, and enhanced supply chain visibility is major factor expected to boost growth of the target market during the forecast period.

Moreover, increasing government initiatives for adoption of radio frequency identification systems in retail industry due to various functionalities offered by radio frequency identification systems such as asset tracking, supply chain management, stock management, interactive advertising, cashless payments, automated checkouts, and improved security is expected to support growth of the global radio frequency identification market in the coming 10 years.

Furthermore, increasing efforts by government to upgrade public transportation sector, increasing awareness regarding IoT based radio frequency identification labeling and radio frequency identification tags, and rising need to clampdown on pharmaceutical drug counterfeiting issues across the globe are among major factors expected to create significant revenue growth opportunities for players in the target market during the forecast period.

Global Radio Frequency Identification Market: Segment Analysis

On the basis of product type, the tag segment is expected to dominate the global radio frequency identification market, owing to increased demand for radio frequency identification tags by various industries as the radio frequency identification tags are size and cost efficient with long lifespan and highly durable.

In the application segmentation, the commercial segment is expected to register significant growth in terms of revenue in the global market, owing to increasing adoption of radio frequency identification technology to identify and track various items which in turn result into optimized warehouse management.

Global Radio Frequency Identification Market: Regional Analysis

Market in North America market is expected to dominate in the global market in terms of revenue share, owing to high emphasizes on research and development activities by players to facilitate operational efficiency through adoption of advanced technologies such as radio frequency identification in countries in the region.

Market in Asia Pacific is expected to grow at the highest CAGR during the forecast period in the global market followed by market in Europe, owing to increasing adoption of automation and radio frequency identification tags in retail and manufacturing sector for efficient supply chain management in countries such as Japan, Germany, France, and India in the region.

Market in Latin America and Middle East & Africa is expected to register lucrative growth in the target market, owing to increasing awareness regarding radio frequency identification technology benefits and rising industrialization in these regions.

Global Radio Frequency Identification Market Segmentation:

Segmentation by Product Type:

Tags
Reader
Software

Segmentation by Application:

Retail
Healthcare
Commercial
Government
Transportation
Aerospace and Defense
Others (Agriculture, Logistics and Supply Chain, Security and Access Control, etc.)