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Global RFID Market
Frost & Sullivan, Dec 2010, Pages: 264
This study gives an analysis and forecast of the global radio frequency identification (RFID) market. It is segmented into the world's largest regions, which are: the Americas, the Europe, Middle-East, and Africa (EMEA) region and the Asia Pacific region. The study covers the global as well as the regional analysis of the RFID market, examining drivers and restraints for growth, distribution, technology and market trends. Following from these, the market growth of the RFID segments and its verticals are forecasted. The base year of the study is 2009, with forecasts running through 2016.
Research Overview
This Frost & Sullivan research service titled Global RFID Market provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment, in addition to the industry challenges and issues faced by market participants. The study also provides a brief analysis of participants of the total radio frequency identification (RFID) market. In this research, Frost & Sullivan's expert analysts thoroughly examine the following segments: tags, readers, middleware, and software.
Market Overview
Global RFID Market Booms as Solutions Add Efficiency and Intelligence to Drive Business
Prospects for the global RFID market look upbeat as rapid advancements in technology have spiked adoption across different verticals. RFID tags accounted for more than 50 percent of the world's RFID revenues in 2009, with figures reaching between $1500 and $2500 million. As tags are evolving into smaller form factors to meet the requirements of different environments, more features and capabilities are being added for optimizing performance and enhancing accuracy for applications. Companies are striving for operational efficiency in processing, especially in controlling asset integrity and in improving inventory visibility in the supply chain to stoke business progression. Emerging applications have the potential to unleash new opportunities for growth in the market. “Convergence of RFID with other technologies such as real-time locating systems (RTLS) and Wi-Fi will be a strong trend in the coming years for niche applications, adding intelligence to business processing needs,” notes the analyst of this research service. ”Active RFID technology incorporated in wireless sensor networks (WSN) is another development that is gaining traction and creating more applications, which were earlier considered impossible.” Some popular examples are the monitoring of natural disasters, vehicle crash monitoring on highways, waste management, and smart grid data monitoring. .
Although the outlook for the market is bright, some impediments are proving to be growth bottlenecks. Evidence points to a reluctance among businesses to implement RFID due to the risks involved and the current market situation. End users are in wait and watch mode, as they are unsure of the outcome of RFID implementation. In some cases, inadequate infrastructure hampers the growth of RFID. In instances where RFID solutions need to be fully integrated into backend management systems, deployment of full-fledged systems can skyrocket implementation costs. This is a major challenge for businesses in the industry. Pricing pressure is another factor restraining market momentum. Although RFID tag prices have significantly reduced in the past, the tag market continues to face pricing pressure due to over-expectation in the market. Vendors are known to be selling at low margins, no margins, or negative margins; this has created unhealthy competition in the market. Hence, newcomers in the RFID market are encouraged to be aware of the existing conditions and to promote fair competition.
The global market participants in the market continue to be strong with the high emphasis placed on quality and continuous improvement. RFID vendors need to understand the dynamics of the RFID ecosystem, identify opportunities for growth, and focus on delivering innovative solutions for the unmet needs of the market. Education and training of channel partners and end users are of vital importance for successful implementation. “Participants in this domain must prioritize customer relationship management initiatives and step up efforts to raise awareness on the benefits of RFID implementation,” says the analyst. “Businesses must consider upgrading their existing infrastructure, such as network and storage, to enable RFID systems to work seamlessly, as opportunities will proliferate if a more robust infrastructure is in place.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following market sectors in this research:
Tags
- Readers
- Middleware
- Software
By End-use Vertical:
- Transportation
- Retail
- Industrial
- Education
- Healthcare
- Others
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