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TMCNet:  Global Radio Frequency Identification Market 2018-2022| Rising Popularity of Smart Factories to Drive Growth| Technavio

[December 05, 2018]

Global Radio Frequency Identification Market 2018-2022| Rising Popularity of Smart Factories to Drive Growth| Technavio

Technavio's global radio frequency identification (RFID) market research report forecasts the market to grow at a CAGR of over 9% during the forecast period.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181205005455/en/

Technavio has released a new market research report on the global radio frequency identification (RF ...

Technavio has released a new market research report on the global radio frequency identification (RFID) market for the period 2018-2022. (Graphic: Business Wire)

The growing popularity of smart factories will be one of the major trends in the global radio frequency identification market during 2018-2022. Many manufacturing facilities in EMEA have been integrating automation technologies into different production processes as they help in the faster completion of work and provide low error rates because of minimum human input. Several governments have been providing huge administrative support for the development of smart factories.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

According to Technavio analysts, one of the key drivers for the global radio frequency identification market is the adoption of inventory management systems:

Global radio frequency identification market: Adoption f inventory management systems

The data entry and database of the equipment or product were managed manually in end-user segments such as industrial and retail. This led to an increase in errors and was an inaccurate and time-consuming process. The end-users will be able to record and recognize the database of the product with better precision with the help of RFID tags.

According to a senior analyst at Technavio for research on embedded systems, "Industries such as manufacturing, logistics, and warehousing need an accurate database of products. This will help in better decision making for these end-user industries. The end-users will be able to rectify the errors in entering the data with the help of RFID tags. Vendors, manufacturers, and other end-users have found major improvements in the overall data entry due to the introduction of RFID tags, which is boosting the demand for RFID products."

Global radio frequency identification market: Segmentation analysis

This global radio frequency identification market analysis report provides market segmentation by product type (RFID tags, middleware, passive RFID systems, and active RFID systems), by end-user (industrial, BFSI, retail, logistics, and healthcare), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

Of the four major product types, the RFID tags segment held the largest radio frequency identification market share in 2017, contributing to over 40% of the market. This product type segment will dominate the global market throughout the forecast period.

The Americas held the largest share of the market in 2017, accounting for more than 48% share. It was followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.

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Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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