Latest News- Radio Frequency Identification (RFID) Market: RFID tags is expected to lead the Product segment during 2025-2029

The Radio Frequency Identification (RFID) Market is being driven by Adoption of inventory management systems

The Radio Frequency Identification (RFID) Market is expected to grow at a CAGR of 14.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 18767.9 million. In the realm of data center management, optimizing resource utilization and enhancing asset management are paramount. RFID technology offers a solution by integrating with critical assets such as servers, routers, switches, and network equipment. By employing RFID and Near Field Communication (NFC) technologies, data centers can automate asset tracking, reducing inefficiencies and human error. RFID's ability to identify and locate assets in real-time enables data centers to maintain an up-to-date inventory and streamline operational processes. This integration not only improves asset management but also ensures greater security and compliance within the data center environment. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • RFID tags
  • Middleware
  • Passive RFID systems
  • Active RFID systems
• End-user
  • Industrial
  • Retail
  • BFSI
  • Logistics
  • Others
• Component
  • Tags
  • Antennas
  • Readers
  • Middleware
• System
  • Active RFID
  • Passive RFID
• Frequency
  • Low Frequency (LF) RFID
  • High Frequency (HF) RFID
  • Ultra-high Frequency (UHF) RFID
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Adoption of inventory management systems
• Adoption of RFID solutions in cloud middleware
• Increased adoption of RFID in e-commerce

However, the market also witnesses some limitations, which are as follows:

• Data security and consumer privacy issues
• Limitations of fixed RFID readers
• High deployment cost of active RFID systems

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Market Scope in Radio Frequency Identification (RFID) Market Research Report

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Research Analysis Overview

The RFID market encompasses various types of technologies including Passive RFID, Active RFID, and Semi-Passive RFID. UHF, HF, and LF frequencies are utilized in RFID chips, each offering distinct RFID range and read rates. RFID offers high accuracy and reliability, enabling scalability and interoperability. Data analytics and business intelligence are key applications, with RFID automation, mobile solutions, cloud solutions, machine learning, blockchain, cybersecurity, data encryption, data integrity, traceability, authentication, authorization, real-time data, remote monitoring, and location services enhancing its capabilities.

Market Research Overview

RFID technology, comprising tags, readers, antennas, middleware, software, and systems, is a significant segment of the global technology hardware, storage, and peripherals market. According to Technavio, this market encompasses manufacturers of IT hardware, including RFID components, data storage devices, and peripherals. The market's size is determined by the revenue generated from sales of these hardware devices, equipment, and components. The global technology hardware, storage and peripherals market expansion is influenced by the increasing demand for data storage solutions due to the escalating volume, velocity, veracity, and variety (4Vs) of data, leading to a growing number of data centers.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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