Global RFID Market for Retail Applications 2015-2019
Market overview of the global RFID market for retail applications
Technavio’s market research analysts predict the RFID market for retail applications to contribute close to 24% of the overall RFID. The RFID tag market is broadly categorized into active and passive tags.
With the increased trend of omni-channel retailing, the supply chain complexities are expected to increase over the next four years. Hence, to improve tracking and visibility of items, the use of RFID technology will significantly impact the retail market by helping close the demand-supply gap in an efficient manner. Its application gives real-time data to estimate the number of stock keeping units (SKUs) required to manage an inventory.
To gain critical insights on their supply chain, retailers such as Wal-Mart and Gillette have made it mandatory for all their suppliers to use RFID tags. Its adoption is boosting revenues of RFID systems in the retail segment across the globe.
Market segmentation of RFID for retail applications by product
The growth in the RFID tags market is proportional to the growth of the global RFID market for retail applications, as these are the basic components of the RFID system. The advantages of RFID tags include durability and efficiency in harsh environmental conditions and the ability to store more amount of information. It has thus prompted many retailers to adopt RFID systems over barcodes in the recent years.
Market shares and segmentation analysis based on geography
The Americas region dominates the global RFID market for retail applications, and it constitutes close to 51% of the total revenue contribution to this market. It is estimated to grow further owing to the long-term growth prospects arising out of the Latin America region.
Key vendor analysis of the global RFID market for retail applications
- Alien Technology
- Avery Dennison
- Checkpoint Systems
Currently, technically advanced RFID semiconductor devices are being developed by the leading market players. With technologies such as Wi-Fi and real-time locating systems (RTLS) these companies are coming up with advanced and customized features keeping in mind the specific needs of customers.
The other prominent vendors of the market include Global Ranger, InSync Software, Nedap, RFID4U, Software AG, Tellago, TIBCO, and Xterprise.
Key questions answered in the report
- What are the key factors driving the global RFID market for retail applications?
- What are the key market trends impacting the growth of the global RFID market for retail applications?
- What are the various opportunities and threats faced by the vendors in the global RFID market for retail applications?
- Trending factors influencing the market shares for EMEA, ROW, APAC, and Americas?
- Key outcome of the five forces analysis on the global RFID market for retail applications?
- Growth forecast of the global RFID market for retail applications until 2019?
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