RFID Sensor Market Exploring Future Growth 2018-2024 and Key Players - Vitaran Electronics, SMARTRAC
Radio Frequency Identification (RFID) is the use of radio waves to read and capture information stored on a tag attached to an object. A tag can be read from up to several feet away and does not need to be within direct line-of-sight of the reader to be tracked. Factors such as rise in need for tracking inventory & equipment in businesses, robust security provided by RFID sensors, and ability of RFID to read the signal from long distance fuel the growth of the market. However, high RFID cost and lack of ability to perform in uncertain situations hamper the market growth. On the contrary, development of the automobile industry and use of RFID in various applications are expected to present numerous opportunities for market expansion.Major Key Players of the RFID Sensor Market are:
Murata Manufacturing, Vitaran Electronics, SMARTRAC, ELA Innovation, Balluff, AB&R (American Barcode and RFID), VisuaScan Inc., Imprint Enterprises, Coridian Technologies, Inc., AbeTech Corporate, and Invengo Technology Pte. Ltd.The global RFID market is segmented into product, frequency band, type, application, industry vertical, and region. Based on product, the market is categorized into tags, reader, and software.
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