Outlook of the global intelligent RFID platform market
Technavio’s market research analyst predicts the global intelligent radio-frequency identification (RFID) platform market to grow steadily at a CAGR of above 26% by 2021. One of the primary drivers for this market is the demand for inventory management capability by firms across the globe. Inventory management is the process of tracking products, items, or assets of a company. It also involves the storage of components that will be required during production, as well as oversee quantity of the finished products. With the introduction of automatic data capture (ADC) through the RFID system, companies can ensure that the purchase orders are linked to the amount of stock that must be replenished. Most of the RFID systems are integrated with intelligent RFID platform products such as controllers. Store managers use the system to track depletion of inventories. They can also use such systems to assess the rate of replenishment for certain stocks and decide on the economic order quantity (EOQ) for the inventory. Furthermore, the capability of intelligent RFID platform to help feed information into the database and analyze trends in product demand will propel the growth of the intelligent RFID platform market during the forecast period.
One of the latest trends gaining traction in the RFID tag reader market is the growing popularity of smart factories. A smart factory uses a real-time location system (RTLS) to gather location of the data. The RTLS has tags and sensors that point to the exact location and identity of assets. This data is combined with the existing plant systems and devices and helps in interpreting the current state of the factory. As a result, many automotive and aerospace industries like Audi, BMW, Aston Martin, and Airbus have installed smart factories. Also, added advantages like decreased cycle time and increased focus on quality will contribute to the growth of thie intelligent RFID platform market in the coming years.
Competitive landscape and key vendors
The global intelligent RFID platform market is highly fragmented due to the presence of many vendors. Intense competition and rapid changes in technology pose significant risk factors for vendors’ operations. As established players are growing inorganically through acquisitions and mergers, the intelligent RFID market is expected to consolidate over a period of time. To gain competitive advantage, vendors in the RFID tag reader market are focusing on the improvement of performance, reliability, and customer services.
Leading vendors in the market are -
Tyro Retail Solutions
Other prominent vendors in the intelligent RFID platform market include Alien Technology, Checkpoint Systems, Globe Ranger, InSync Software, RFID4U, Software AG, Tellago, and TIBCO Software.
Segmentation by application and analysis of the intelligent RFID platform market
During 2016, the application management segment dominated the RFID platform market and accounted for a major part of the overall market share. The adoption of middleware (including intelligent RFID platform solutions) in the RFID systems and its use in industries like automotive, transportation, retail, healthcare, pharmaceutical, and CPG are the key contributors to the dominance of this segment in the intelligent RFID market. Also, RFID solutions are used in the aerospace sector for the replenishment of spare parts and resource management of equipment and spares for aircraft. Further, its ability to reduce or eliminate inefficiencies in the supply chain management in the aerospace industry will augment the dominance of this segment in the next four years.
Geographical segmentation and analysis of the intelligent RFID platform market
In this market study, analysts have estimated the Americas to dominate the intelligent RFID platform market during the forecast period. The dominance of this segment can be attributed to the presence of a high concentration of RFID systems users in this region, driving the growth of the RFID tag reader market.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global intelligent RFID platform market?
What are the key market trends impacting the growth of the global intelligent RFID platform market?
What are the challenges to market growth?
Who are the key vendors in the global intelligent RFID platform market?
What are the market opportunities and threats faced by the vendors in the global intelligent RFID platform market?
Trending factors influencing the market shares of the Americas, APAC, and EMEA.
What are the key outcomes of the five forces analysis of the global intelligent RFID platform market?
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