Across the globe, Radio Frequency Identification (RFID) technology will continue to flourish in the coming years. According to RNCOS’ latest research report, the overall growth in the RFID industry is expected to outpace other automatic identification technologies, like barcode. With the rising interest of end-users, and growing awareness about the technology and its usage in various applications, the RFID industry is expected to expand incessantly in near future. The entry of new players, technological advancements, mergers and acquisitions, and increasing government support will keep on benefiting the global RFID market, which is estimated to grow at a CAGR of around 18% during 2011-2014.
Research Analysis & Highlights
The 110-page report, “Global RFID Market Forecast to 2014”
, provides an in-depth research and rational analysis of the global RFID industry. For the study, the market has been segmented into the world’s major regions: Americas, Europe and Asia Pacific. It also discusses the key drivers, recent developments, and emerging RFID applications under different verticals. Besides, it analyzes RFID tags; reader and software/services market and presents the forecasts for these product segments. The comprehensive research aims at depicting an objective picture of the industry to clients to help them analyze the opportunities, and its success, both in the short and long-term.
Some of the key findings of the report are:
- The RFID market is dominated by tags segment, which is expected to expand further in near future.
- Maximum demand for the technology was generated by the transportation sector that held the majority of the total RFID
market in 2011. Retail sector is the fastest growing segment.
- The highest share of the RFID market was captured by the Americas. It is expected that the Asia-Pacific region will
surpass the American market.
- The Indian RFID market is growing rapidly, displaying tremendous potential.
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