RFID Sensor Market: Introduction
Transparency Market Research delivers key insights on the
global RFID sensor market. In terms of revenue, the
global RFID sensor market is estimated to expand at a CAGR of 8% during
the forecast period, owing to numerous factors regarding which TMR offers
thorough insights and forecasts in its report on the global RFID sensor market.
The global RFID sensor market is broadly affected by several
factors, including usage of RFID sensor in logistics, supply chain, and
increasing applications in the healthcare and retail sectors. Thus, expanding
applications of RFID sensors in different sectors is propelling the global
market.
RFID Sensor Market: Dynamics
The RFID technology consists of scanners that uses radio
waves to communicate with RFID tags and provides real-time data. The sensor in
the RFID technology is utilized in a wide range of applications such as
warehouse and retail. It helps improve the operations in warehouse and retail
sectors by automating the inventory processes. Additionally, it makes the
operations faster and simpler. Furthermore, the increasing trend of contactless
communications is further boosting the demand for RFID sensors. The RFID
technology also enables communication between the powered reader and unpowered
tag. These factors are propelling the RFID sensor market.
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The increasing adoption of RFID sensors for long-range
scanning is further propelling the market. RFID sensors are available in the
range of up to 100 cm in order to read long distance tags. In these types of
applications, battery-assisted RFID tags are used. These types of sensors are
popularly deployed in environments that require the tracking of high value
assets in large areas and spaces. Moreover, increasing research and development
to manufacture the innovative products among key players is also fueling the
market.
However, increasing illegal and counterfeit copying of
patented technology has also been witnessed in the market. Additionally, the
poor reputation of fake products has reduced the enthusiasm for product
innovation. This is anticipated to hamper the RFID sensor market. Moreover,
leading players are penetrating the market in developing countries by offering
cost-effective and efficient sensors and hence, the price of these products is
decreasing.
RFID Sensor Market: Prominent Regions
The RFID sensor market in North America is expected to
expand during the forecast period, owing to the presence of key market players,
technological advancements, and increase in usage of RFID sensor in logistics
and supply chain sector in the region. The RFID sensor market in Europe is
projected to expand considerably during the forecast period, due to rise in investments
by key players in the R&D on these sensors in the region. The RFID sensor
market in Asia Pacific is likely to expand during the forecast period, owing to
the increase in the usage of RFID sensors in retail and warehouse sectors, and
the presence of a large number of players engaged in the design and manufacture
of RFID sensors in the region.
RFID Sensor Market: Key Players
Key players operating in the global RFID sensor market are
Alien Technology, Applied Wireless Inc., Avery Dennison Corporation, CAEN RFID
S.R.L., Honeywell International Inc., Checkpoint Systems, Inc., Impinj, Inc.,
Invengo Information Technology Co. Ltd, Motorola Solutions, Inc., NXP
Semiconductors., and Savi Technology.
Global RFID Sensor Market: Segmentation
RFID Sensor Market, by Type
- Active
- Passive
RFID Sensor Market, by Frequency Range
- Low
Frequency
- High
Frequency
- Ultra
high Frequency
RFID Sensor Market, by Application
- Access
Control
- Livestock
Tracking
- Ticketing
- Cashless
Payment
- Inventory
Management
- Others
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RFID Sensor Market, by End-use Industry
- Transportation
- Logistic
& Supply Chain
- Manufacturing
- Retail
- Healthcare
- Aerospace
& Defense
- Agriculture
- Others
(Sports, Advertisement, etc.)
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