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Technavio’s market research report identifies that the growing preference for advanced inventory management practices will be one of the primary growth drivers for the global retail radio-frequency identification (RFID) security tags market till 2021. The application of RFID technology in the retail sector ensures the availability of items in stock. This technology maintains relevant knowledge of product availability and means to locate them. This in turn, enable store stockers to track and locate the hidden items. The application of this technology ensures a high level of accuracy and precision by offering a better inventory management. Furthermore, the RFID technology also allow retailers to understand the point of investigation when there is an inventory loss due to shrinkage. Technavio’s market research analysts predict that this market will grow at a CAGR of more than 38% by 2021.
The growth prospects for the RFID retail tags segment in the Americas is increasing due to boom in the retail industry. The retail sector in Latin America is also growing due to the advancement in medical and apparel industries in developing economies like Brazil and Mexico. This in turn, will enhance the economic conditions in Latin America. Furthermore, the Americas is extensively embracing RFID system and technology to enhance the shopping experience of consumers at retail spaces. The global retail RFID security tags market will continue to grow in the region throughout the predicted period because the Americas is popularly known for its technological readiness.
The retail RFID security tags market is highly fragmented and characterized by the presence of several large and small vendors. The major players in the market are increasingly focusing on product offerings and after-sales services to remain competitive in the market. Furthermore, vendors of the RFID tags market are also focusing on durable and functional product portfolios, technological upgradations, and value-added services.
Key vendors in this market are -
Other prominent vendors in the market include CoreRFID, GlobeRanger, GAO RFID, Honeywell International, Impinj, Invengo Technology, Mojix, Omni-ID, ORBCOMM, and Tyco Retail Solutions
HF RFID retail security tags are commonly used for industrial purposes. The demand for HF RFID retail security tags is increasing because it is cheaper in comparison to UHF RFID tags. The RFID tags market will witness growth in the HF RFID retail security tags segment because HF RFID retail security tags offer high frequency. The adoption of these tags is high due to its anti-collision capability to read multiple tags simultaneously.
Passive RFID tags use the power supplied by the reader. The popularity of passive retail RFID security tags is increasing among end-users because they are more rugged than their counterparts. The retail RFID security tags market is experiencing growth in the passive RFID tags segment because these tags last longer. Furthermore, they are used to carry out many activities such as access control, inventory management, supply chain management, tool tracking, and smart RFID labels.
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SEGMENTATION BY FREQUENCY
PART 07: MARKET SEGMENTATION BY PRODUCT
PART 08: REGIONAL LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: COMPETITOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
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