According to a recent research report by RNCOS, “Global RFID Market Analysis till 2014”, America is the major RFID market among all regions across the globe. However, due to the fast adoption of the technology in the Asia-Pacific region (APAC) including India, China, Taiwan, Thailand, South Korea and other nations, it is witnessing a strong double-digit growth in the RFID industry. Besides, government-aided deployments and increasing adoption of technology by various industries in the APAC region is expected to take it miles ahead of America’s RFID market in the coming years.
Further, the report says that with the development and dissemination of harmonized RFID standards globally along with awareness about technology in different applications and verticals, the growth trend of RFID technology is expected to flourish in the coming years. It is also expected that emerging RFID applications under different verticals will outpace the other automatic identification technologies like barcode. As per our analysis, global RFID market is anticipated to grow at a CAGR of around 18% during 2011-2014.
Moving further, the report gives detailed analysis and forecast of the global radio frequency identification (RFID) market which is segmented into world’s major regions: America, Europe and Asia Pacific. A comprehensive study on RFID Reader and Software/Services market other than RFID Tags market has also been analyzed and forecasted in the extensive research, which also foresees the growth trend of the same at the regional level.
We also studied various established and emerging RFID application under different verticals to understand the current and future market outlook. The report also discusses the key drivers that will help clients to analyze the opportunities and the success of global RFID industry both in short and the long-term. Moreover, with a view to understanding the industry’s competitive landscape and presenting its balanced outlook to clients, we have included major issues constraining the growth of global RFID deployments in our research study. Besides, the study also provides a brief analysis of Global chipless (RFID) market which is expected to find increased adoption in applications in the coming years.
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