Radio Frequency Identification Market (RFID) to Grow at 11% CAGR Driven by Smart Factories to 2020

30 May, 2016, 02:00 ET from RnR Market Research

PUNE, India, May 30, 2016 /PRNewswire/ --

A key trend that will boost radio frequency identification market growth is the growing popularity of smart factories. Smart factories help the manufacturing units in tackling complex manufacturing processes. Smart factories gather the location data with the help of RTLS, which includes tags and sensors to pinpoint an exact location and the identity of assets. This location and identity data is fed into the existing plant systems and devices and helps determine the current state of the factory. This information is delivered to the relevant people and tools to help them gain insights and strategize accordingly.

Complete report on radio frequency identification market spread across 72 pages, analyzing 3 major companies and providing 43 data exhibits is now available at http://www.rnrmarketresearch.com/global-radio-frequency-identification-market-2016-2020-market-report.html  

The analysts forecast global radio frequency identification (RFID) market to grow at a CAGR of 11% during the period 2016-2020. A key growth driver for radio frequency identification market is the need for inventory management. Inventory management is the process of keeping track of products, items, or assets of a company; assessing the storage requirements of components; and overseeing the number of finished products. Inventory is an important asset for a company and represents the investment that is involved from manufacturing to the sale of the product. Mismanagement of inventory can lead to significant financial problems and result in either inventory glut or inventory shortage.

Global Radio Frequency Identification (RFID) Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. The report covers the present scenario and the growth prospects of the global radio frequency identification (RFID) market for 2016-2020. To calculate the market size, the report covers the revenue generated from end-user segments: industrial, financial services, logistics, retail, healthcare, and others (sports, airlines, consumer products, animals, and farming).

The following companies are the key players in the Global radio frequency identification (RFID) market: Datalogic, Honeywell International, and Zebra Technologies. Other Prominent Vendors in the market are: Acreo Swedish ICT, Alien Technology, Avery Dennison, Checkpoint Systems, CipherLab, CoreRFID, Fieg Electronics, GAO RFID, Global Ranger, Impinj, InSync Software, LogiTag, Mobile Aspects, Mojix, Nedap, RFID4U, RF Ideas, SATO VICINITY, Skyetek, Skytron, Software AG, Solstice Medical, SMARTRAC, Stanley InnerSpace, TAGSYS RFID, Tellago, Terso Solutions, Thinfilm, ThingMagic, TIBCO Software, Tyco Retail Solutions, WaveMark, and Xterprise. Order a copy of Global Radio Frequency Identification Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=582846

Further, the radio frequency identification market report states that one challenge that could hamper market growth is the need for high initial investment. This can make it hard for SMEs to adopt RFID technology, even though they are aware of the advantages.

Another related report is Global Chipless RFID Market 2016-2020, the analysts forecast global chipless RFID market to grow at a CAGR of 29.33% during the period 2016-2020. RFID devices can be integrated with other technologies such as Wi-Fi and real-time locating systems (RTLS). Those manufacturers who require efficient inventory management systems demand highly advanced RFID devices. Technically advanced RFID semiconductor devices are being developed keeping in mind the specific needs of customers. These technological advances have led to increased adoption of RFID devices in retail and logistics applications.

Key players in the global chipless RFID market: Alien Technology, Thin Film Electronics, SATO VICINITY, and Zebra Technologies. Other prominent vendors in the market are: Acreo Swedish ICT, BASF, Confidex, Impinj, Intermec, RFID4U, RR Donnelley, Soligie, Toppan Printing, and Vubiq. Browse complete report@ http://www.rnrmarketresearch.com/global-chipless-rfid-market-2016-2020-market-report.html

Explore other new reports on RFID Market @ http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/electronics/electronics-rfid

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