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RFID Market for Industrial Applications Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 120
  • SKU: IRTNTR73166
Technavio

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The RFID market share for industrial applications is expected to increase by USD 1.40 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 6.3%.

This RFID market for industrial applications research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers RFID market for industrial applications segmentations by application (RFID tags, RFID readers, and RFID middleware) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The RFID market for industrial applications report also offers information on several market vendors, including Alien Technology LLC, Avery Dennison Corp., CCL Industries Corp., Checkpoint Systems Inc., CipherLab Co. Ltd., CoreRFID Ltd., Datalogic Spa, HID Global Corp., Honeywell International Inc., Impinj Inc., Invengo Technology Pte. Ltd., Mojix Inc., NXP Semiconductors NV, RFID4U, Terso GMBH, Ubisense Ltd., Unitech Electronics Co. Ltd., Vizinex RFID, Willion Frick and Co., and Zebra Technologies Corp. among others.

What will the RFID Market Size for Industrial Applications be During the Forecast Period?

Download the Free Report Sample to Unlock the RFID Market Size for Industrial Applications for the Forecast Period and Other Important Statistics

 

RFID Market for Industrial Applications: Key Drivers, Trends, and Challenges

The evolution of industry 4.0 is notably driving the RFID market growth for industrial applications, although factors such as high initial investments may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the RFID industry for industrial applications. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key RFID Market Driver for Industrial Applications

The evolution of industry 4.0 is one of the key drivers supporting the RFID market growth for industrial applications. Industry 4.0 is beneficial even beyond the factory floor. It brings added connectivity, intelligence, and security to the entire supply chain. This revolution has changed the way consumers and manufacturers interact and manage products while they are being made, shipped, sold, or used. With the evolution of industry 4.0, RFID has been performing more functionalities. RFID tags enable the flexible and efficient manufacturing of customized products and facilitate a higher degree of standardization and automation. This increases the overall efficiency of manufacturing processes at a lower cost. Thus, with the emergence of industry 4.0, the market for RFID is expected to see an accelerated demand throughout the forecast period. 

Key RFID Market Trend for Industrial Applications

Deployment of RAIN RFID in manufacturing industries is one of the key RFID market trends for industrial applications that is contributing to the market growth. RAIN RFID is a new term often used to refer to UHF RFID. RAIN RFID has proven to be highly effective in the retail space for item-level tagging and in-store inventory management. It is incorporated with a greater volume of chips and a higher number of chip-antenna combinations, making it just as impactful as HF RFID for manufacturers. Automotive manufacturers are using RAIN RFID to track returnable containers or bins. This eliminates the need for time-consuming human intervention or error-prone line-of-sight activities. It is deployed in industries, especially manufacturing industries. These factors will propel the RFID market growth for industrial applications during the forecast period.

Key RFID Market Challenge for Industrial Applications

High initial investments is one of the factors hindering the RFID market growth for industrial applications. The deployment of RFID systems creates the need for RFID middleware to manage and transfer data to a destination without redundancy or volatility. In addition, there will be hidden costs, such as the cost of maintenance, licenses, and training in data implementation, monitoring, and management, associated with the deployment of RFID systems. The high cost incurred by vendors cannot be passed on to customers. This is a major factor affecting vendor profit margins. High investments required for RFID devices and systems are expected to slow down their adoption rate during the forecast period. Slow down in the adoption of RFID tags is hindering the market growth.

This RFID market for industrial applications analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the RFID market for industrial applications as a part of the global technology hardware, storage, and peripherals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the RFID market for industrial applications during the forecast period.

Who are the Major RFID Market Vendors for Industrial Applications?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alien Technology LLC
  • Avery Dennison Corp.
  • CCL Industries Corp.
  • Checkpoint Systems Inc.
  • CipherLab Co. Ltd.
  • CoreRFID Ltd.
  • Datalogic Spa
  • HID Global Corp.
  • Honeywell International Inc.
  • Impinj Inc.
  • Invengo Technology Pte. Ltd.
  • Mojix Inc.
  • NXP Semiconductors NV
  • RFID4U
  • Terso GMBH
  • Ubisense Ltd.
  • Unitech Electronics Co. Ltd.
  • Vizinex RFID
  • Willion Frick and Co.
  • Zebra Technologies Corp.

 

This statistical study of the RFID market for industrial applications encompasses successful business strategies deployed by the key vendors. The RFID market for industrial applications is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Alien Technology LLC - Through the IC segment, the company offers products of ICs under brand Higgs. 
  • Alien Technology LLC - The company offers RFID for industrial applications under the brand name of Higgs. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The RFID market for industrial applications forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

RFID Market for Industrial Applications Value Chain Analysis

Our report provides extensive information on the value chain analysis for the RFID market for industrial applications, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for RFID Market for Industrial Applications?

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47% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for the RFID market for industrial applications in APAC. Market growth in this region will be faster than the growth of the market in other regions.

 Large-scale adoption of smart factories and industry 4.0 will facilitate the RFID market for industrial applications growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic adversely impacted several countries, such as India, Japan, and others in the region. However, in 2021, the initiation of vaccination drives led to the lifting of lockdown and travel restrictions from the region. This has led to the resumption of industrial operations with social distancing and sanitization norms, which has increased the production of RFID systems in the region. Thus, such factors are expected to drive the regional RFID market for industrial applications during the forecast period.

What are the Revenue-generating Application Segments in the RFID Market for Industrial Applications?

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The RFID market for industrial applications share growth by the RFID tags segment will be significant during the forecast period. The number of active RFID tags procured by end-users is more compared with passive tags because they have a long read range and can read multiple items at a time. Passive RFID systems have to be configured to the frequency of the RFID tags. The passive RFID tags segment is exhibiting stable revenue growth. However, it will likely see slow revenue growth during the forecast period because of the expected decline in the average selling price (ASP) of tags. This is expected to drive the adoption of RFID solutions among end-users. Thus, active RFID tags are expected to experience higher growth. These factors will drive the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the RFID market size for industrial applications and actionable market insights on post COVID-19 impact on each segment.

 

RFID Market Scope for Industrial Applications

Report Coverage

Details

Page number

120

Base year

2021

forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.3%

Market growth 2022-2026

$ 1.40 billion

Market structure

Fragmented

YoY growth (%)

6.15

Regional analysis

APAC, North America, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 47%

Key consumer countries

US, China, India, Japan, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alien Technology LLC, Avery Dennison Corp., CCL Industries Corp., Checkpoint Systems Inc., CipherLab Co. Ltd., CoreRFID Ltd., Datalogic Spa, HID Global Corp., Honeywell International Inc., Impinj Inc., Invengo Technology Pte. Ltd., Mojix Inc., NXP Semiconductors NV, RFID4U, Terso GMBH, Ubisense Ltd., Unitech Electronics Co. Ltd., Vizinex RFID, Willion Frick and Co., and Zebra Technologies Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this RFID Market for Industrial Applications Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive RFID market growth for industrial applications during the next five years
  • Precise estimation of the RFID market size for industrial applications and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the RFID industry for industrial applications across APAC, North America, Europe, South America, and Middle East and Africa
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of RFID market vendors for industrial applications 

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 26: Chart on Comparison by Application
      • Exhibit 27: Data Table on Comparison by Application
    • 5.3 RFID tags - Market size and forecast 2021-2026
      • Exhibit 28: Chart on RFID tags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on RFID tags - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on RFID tags - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on RFID tags - Year-over-year growth 2021-2026 (%)
    • 5.4 RFID readers - Market size and forecast 2021-2026
      • Exhibit 32: Chart on RFID readers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on RFID readers - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on RFID readers - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on RFID readers - Year-over-year growth 2021-2026 (%)
    • 5.5 RFID middleware - Market size and forecast 2021-2026
      • Exhibit 36: Chart on RFID middleware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on RFID middleware - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on RFID middleware - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on RFID middleware - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by Application
      • Exhibit 40: Market opportunity by Application ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 South America - Market size and forecast 2021-2026
      • Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.7 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.8 China - Market size and forecast 2021-2026
      • Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.9 US - Market size and forecast 2021-2026
      • Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.10 India - Market size and forecast 2021-2026
      • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
    • 7.11 Japan - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.12 Germany - Market size and forecast 2021-2026
      • Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Alien Technology LLC
              • Exhibit 93: Alien Technology LLC - Overview
              • Exhibit 94: Alien Technology LLC - Product / Service
              • Exhibit 95: Alien Technology LLC - Key offerings
            • 10.4 Avery Dennison Corp.
              • Exhibit 96: Avery Dennison Corp. - Overview
              • Exhibit 97: Avery Dennison Corp. - Business segments
              • Exhibit 98: Avery Dennison Corp. - Key news
              • Exhibit 99: Avery Dennison Corp. - Key offerings
              • Exhibit 100: Avery Dennison Corp. - Segment focus
            • 10.5 Checkpoint Systems Inc.
              • Exhibit 101: Checkpoint Systems Inc. - Overview
              • Exhibit 102: Checkpoint Systems Inc. - Product / Service
              • Exhibit 103: Checkpoint Systems Inc. - Key offerings
            • 10.6 CipherLab Co. Ltd.
              • Exhibit 104: CipherLab Co. Ltd. - Overview
              • Exhibit 105: CipherLab Co. Ltd. - Product / Service
              • Exhibit 106: CipherLab Co. Ltd. - Key offerings
            • 10.7 CoreRFID Ltd.
              • Exhibit 107: CoreRFID Ltd. - Overview
              • Exhibit 108: CoreRFID Ltd. - Product / Service
              • Exhibit 109: CoreRFID Ltd. - Key offerings
            • 10.8 Honeywell International Inc.
              • Exhibit 110: Honeywell International Inc. - Overview
              • Exhibit 111: Honeywell International Inc. - Business segments
              • Exhibit 112: Honeywell International Inc. - Key news
              • Exhibit 113: Honeywell International Inc. - Key offerings
              • Exhibit 114: Honeywell International Inc. - Segment focus
            • 10.9 Impinj Inc.
              • Exhibit 115: Impinj Inc. - Overview
              • Exhibit 116: Impinj Inc. - Business segments
              • Exhibit 117: Impinj Inc. - Key offerings
              • Exhibit 118: Impinj Inc. - Segment focus
            • 10.10 Mojix Inc.
              • Exhibit 119: Mojix Inc. - Overview
              • Exhibit 120: Mojix Inc. - Product / Service
              • Exhibit 121: Mojix Inc. - Key offerings
            • 10.11 Unitech Electronics Co. Ltd.
              • Exhibit 122: Unitech Electronics Co. Ltd. - Overview
              • Exhibit 123: Unitech Electronics Co. Ltd. - Product / Service
              • Exhibit 124: Unitech Electronics Co. Ltd. - Key offerings
            • 10.12 Zebra Technologies Corp.
              • Exhibit 125: Zebra Technologies Corp. - Overview
              • Exhibit 126: Zebra Technologies Corp. - Business segments
              • Exhibit 127: Zebra Technologies Corp. - Key news
              • Exhibit 128: Zebra Technologies Corp. - Key offerings
              • Exhibit 129: Zebra Technologies Corp. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 130: Inclusions checklist
                • Exhibit 131: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 132: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 133: Research methodology
                • Exhibit 134: Validation techniques employed for market sizing
                • Exhibit 135: Information sources
              • 11.5 List of abbreviations
                • Exhibit 136: List of abbreviations
              • demand for infrastructure-as-a-service (IaaS): The ongoing migration from on-premise infrastructure to cloud-based services is having an impact on the revenues of original equipment manufacturers (OEMs) of servers, albeit the adverse impact on them is slightly milder than the effect on storage equipment. The emergence of IaaS has had a strong impact on the IT hardware market. The biggest advantage of IaaS is that it allows enterprises to scale operations or introduce innovations in the workflow without the need to make substantial investments in storage and servers for the traditional on-premise hardware environment. At the same time, cloud-focused infrastructure spending is expected to increase in terms of server, disk storage, and networking hardware.

                Research Framework

                Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                TechnavioINFORMATION SOURCES

                Primary sources

                • Manufacturers and suppliers
                • Channel partners
                • Industry experts
                • Strategic decision makers

                Secondary sources

                • Industry journals and periodicals
                • Government data
                • Financial reports of key industry players
                • Historical data
                • Press releases
                Technavio

                TechnavioDATA ANALYSIS

                Data Synthesis

                • Collation of data
                • Estimation of key figures
                • Analysis of derived insights

                Data Validation

                • Triangulation with data models
                • Reference against proprietary databases
                • Corroboration with industry experts
                Technavio

                TechnavioREPORT WRITING

                Qualitative

                • Market drivers
                • Market challenges
                • Market trends
                • Five forces analysis

                Quantitative

                • Market size and forecast
                • Market segmentation
                • Geographical insights
                • Competitive landscape
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                The rfid market for industrial applications market growth will increase by $1400.96 million during 2022-2026.
                The rfid market for industrial applications market is expected to grow at a CAGR of 6.3% during 2022-2026.
                Technavio has segmented the rfid market for industrial applications market by application (RFID tags, RFID readers, RFID middleware, and Other urology devices) and geographic (APAC, North America, Europe, South America, and Middle East and Africa).
                Alien Technology LLC, Avery Dennison Corp., CCL Industries Corp., Checkpoint Systems Inc., CipherLab Co. Ltd., CoreRFID Ltd., Datalogic Spa, HID Global Corp., Honeywell International Inc., Impinj Inc., Invengo Technology Pte. Ltd., Mojix Inc., NXP Semiconductors NV, RFID4U, Terso GMBH, Ubisense Ltd., Unitech Electronics Co. Ltd., Vizinex RFID, Willion Frick and Co., Zebra Technologies Corp. are a few of the key vendors in the rfid market for industrial applications market.
                APAC will register the highest growth rate of 47.38% among the other regions. Therefore, the rfid market for industrial applications market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
                The key factors driving the rfid market for industrial applications market growth are:
                • Evolution of Industry 4.0

                  The evolution of Industry 4.0 is expected to be a primary driver for market growth. Industry 4.0 is related to a smart factory. Industry 4.0 enables manufacturers to access detailed, real-time data at any point during a process. The connected ecosystem using the Internet of Things (IoT) will be instrumental in helping manufacturers and consumers provide improved communication and monitoring systems and increased automation, along with self-diagnosis and new levels of analysis, for a productive future. Industry 4.0 is the current transformation of industries characterized by data exchange, automation, cloud-based services, cyber-physical systems, robots, big data, artificial intelligence (AI), and (semi-) autonomous techniques. 

                  Industry 4.0 is beneficial even beyond the factory floor. It brings added connectivity, intelligence, and security to the entire supply chain. This revolution has changed the way consumers and manufacturers interact and manage products while they are being made, shipped, sold, or used. RFID has been a part of the industry ecosystem. With the evolution of Industry 4.0, RFID has been performing more functionalities. 

                  RFID tags enable the flexible and efficient manufacturing of customized products and facilitate a higher degree of standardization and automation. This increases the overall efficiency of manufacturing processes at a lower cost. With the emergence of Industry 4.0, the market for RFID is expected to see an accelerated demand throughout the forecast period. The integration of Industry 4.0 with RFID will help in increasing the efficiency of inventory management.

                   

                • Deployment of RAIN RFID in manufacturing industries

                  RAIN RFID is a new term often used to refer to UHF RFID. RAIN RFID has proven to be highly effective in the retail space for item-level tagging and in-store inventory management. RAIN RFID is incorporated with a greater volume of chips and a higher number of chip-antenna combinations, making it just as impactful as HF RFID for manufacturers. Automotive manufacturers are using RAIN RFID to track returnable containers or bins. This eliminates the need for time-consuming human intervention or error-prone line-of-sight activities. RAIN RFID is deployed in industries, especially manufacturing industries.

                   

                The rfid market for industrial applications market vendors should focus on grabbing business opportunities from the rfid tags segment as it accounted for the largest market share in the base year.
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