DUBLIN, July 24, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/7x8kn7/global_radio) has announced the addition of the "Global Radio Frequency Identification Smart Label Market by Type, by Application, and by Geography - Analysis and Forecast to 2019" report to their offering.
The global RFID smart label market was valued at $2.2 billion in 2014 and is expected to reach up to $4.9 billion by 2019, at a CAGR of 17% from 2014 to 2019.
The RFID smart labels are majorly used for retail inventory tracking and pallet tracking. The retail inventory tracking application and pallet tracking together accounted for a market share of about 26% in 2014, which is the highest share of the total application market. The market size of the retail inventory tracking application in 2014 was worth $582.5 million and is expected to reach $1.2 billion by 2019 at a CAGR of 16.9%. The main reasons behind the high usage of RFID labels in retail inventory and pallet tracking are inventory shrinkage reduction, monitor unattended inventory, automatic item identification on mixed pallets, real-time notification of out-of-stock items, improvement of product replenishment, and efficiency in error reduction which helps shrink manual labor cost.
Increasing demand in the supply chain industry, technological advancements in printed electronics, integration of sensors in electronic article surveillances, positive outlook towards the IOT sector, huge opportunities in healthcare and chemical sectors are the major areas of opportunity for the global RFID market. RFID market in supply chain management provides visibility and traceability, with a great potential to streamline the supply chain by improving efficiency and effectiveness.
The future opportunity for RFID market lies in industries such as logistics, retail, healthcare, pharmaceutical, and food and beverage. The use of RFID improves visibility and enhances the monitoring of cartons and pallets at various process points as they move through the warehouse. It identifies and locates every single item which needs to be tracked, from trucks to forklifts to returnable transit items to containers to whatever is being shipped.
In this report, the radio frequency identification smart label market has been segmented on the basis of type, tracking application, industry, and geography. All the four market segments have also been analyzed on the basis of the market trends across the four geographical regions considered in this study.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Global RFID Smart Label Market, By Type
6 Global Market, By Application
7 Radio Frequency Identification Market, By Geography
8 Global Market: Competitive Landscape
9 Radio Frequency Identification Market, By Company
- Alien Technology
- Avery Dennison Corporation
- CCL Industries
- Checkpoint Systems Inc.
- Intermec Inc.
- Sato Holding Corp
- Smartrac N.V.
- Thin Film Electronics ASA
- Zebra Technologies
For more information visit http://www.researchandmarkets.com/research/7x8kn7/global_radio
Laura Wood, +353-1-481-1716, firstname.lastname@example.org
SOURCE Research and Markets