Technavio has been monitoring the radio frequency identification (RFID) market and it is poised to grow by $ 11.26 bn during 2020-2024, progressing at a CAGR of about 9% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Radio Frequency Identification (RFID) Market 2020-2024 (Graphic: Business Wire)
Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. We offer $1000 worth of FREE customization
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Alien Technology LLC, CoreRFID Ltd., Datalogic Spa, eAgile Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., NXP Semiconductors NV, Siemens AG, and Zebra Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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The growing adoption of inventory management systems has been instrumental in driving the growth of the market. However, data security and consumer privacy issues might hamper the market growth.
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Radio Frequency Identification (RFID) Market 2020-2024: Segmentation
Radio Frequency Identification (RFID) Market is segmented as below:
- RFID Tags
- Passive RFID Systems
- Active RFID Systems
Radio Frequency Identification (RFID) Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The radio frequency identification (RFID) market report covers the following areas:
- Radio Frequency Identification (RFID) Market Size
- Radio Frequency Identification (RFID) Market Trends
- Radio Frequency Identification (RFID) Market Industry Analysis
This study identifies the adoption of RFID solutions in cloud middleware as one of the prime reasons driving the radio frequency identification (RFID) market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Radio Frequency Identification (RFID) Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist radio frequency identification (RFID) market growth during the next five years
- Estimation of the radio frequency identification (RFID) market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the radio frequency identification (RFID) market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of radio frequency identification (RFID) market, vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Drivers, Challenges, and Trends
- Market drivers
- Volume driver – Demand led growth
- Volume driver – Supply led growth
- Volume driver – External factors
- Volume driver – Demand shift in adjacent markets
- Price driver – Inflation
- Price driver – Shift from lower to higher priced units
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alien Technology LLC
- CoreRFID Ltd.
- Datalogic Spa
- eAgile Inc.
- Honeywell International Inc.
- Impinj Inc.
- Mojix Inc.
- NXP Semiconductors NV
- Siemens AG
- Zebra Technologies Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.