Radio Frequency Identification Market Analysis, Cost, Production Value, Price, Gross Margin and Forecast 2020-2030

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Posted by florathoms from the Business category at 02 Jan 2023 02:18:35 pm.
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Radio Frequency Identification Market Overview<o:p></o:p>
Radio-Frequency Identification in the form of radio wavescaptures necessary information stored on the tag of a device. This technologyis widely preferred among various industries. It helps store the information ofthe product electronically.<o:p></o:p>
The Radio Frequency Identification Market is highly usedamong industrial verticals like the logistic and manufacturing industry. It iseven used in warehousing to keep track of the products. This technology helpsgather data and information with the help of RTLS, which helps analyze thelocation and identify assets and goods.<o:p></o:p>
The market value is increasing day by day because of itsmultiple features. It is immensely getting recognition due to the wide usage ofelectromagnetic fields, which can automatically identify and track objects withtags attached to them. The tags have all the necessary information digitally inmanufacturing date, expiry date and serial number. The massive usage of thesetags is accelerating the demand for Radio-Frequency Identification (RFID)Market.<o:p></o:p>
The industrial verticals such as the healthcare industry,manufacturing, and warehouse are driving the market’s growth. TheRadio-Frequency Identification (RFID) Market is noticing sheer demand due tothe higher usage of security and access control applications, the need for anaccurate data unit, and the demand for effective store handling. These factorswill boost the market to reach its estimated growth value during the evaluationperiod.<o:p></o:p>
The pandemic period has shown a harsh impact on the market.The sales department has noticed a decrease in demand which hampered theproduction. The lower investment in the market led to huge economic losses. Thegovernment and the market players planned marketing strategies and effectivemeasures to recover from the situation by noticing the decreased growth rate.These initiatives will let the market grow significantly in the future days.<o:p></o:p>
Radio-Frequency Identification (RFID) Market report wherethey mention an expected growth of USD 40.2 Billion by 2030, at 13.20% of CAGRbetween 2022-2030.<o:p></o:p>
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Key Players of the Radio Frequency Identification Market:<o:p></o:p>
The prominent players in RFID Market Leaders or the RadioFrequency Identification Market are NXP Semiconductors N.V (Netherlands), AlienTechnology (US), 3M Company (U.S), ACTAtek Technology (U.S), AxcessInternational, Inc. (U.S), : Impinj Inc. (US), Ascendent ID (U.S), ),Checkpointt System Inc. (U.S), and AveryDennison Corporations (US), among others.<o:p></o:p>
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Market Segments<o:p></o:p>
The Radio-Frequency Identification (RFID) Market issegregated into components, product type, wafer size, Frequency, geography, andindustry vertical.<o:p></o:p>
The component section of the market is divided into PassiveRFID, Active RFID, and Other. The wafer size is classified into different sizessuch as 200mm, 300mm, 450mm, and Others.<o:p></o:p>
The product type has tags, readers and software. It isclassified into low frequency, high frequency, ultra-high frequency, and activeUltra-High Frequency based on the frequency.<o:p></o:p>
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Regional Analysis<o:p></o:p>
The Radio-Frequency Identification (RFID) Market shows itsgrowth in major continents like the Asia Pacific, North America, Europe, andthe Rest of the World.<o:p></o:p>
Among all the market regions, the North America region iscapturing the highest market share, followed by Europe and Asia-Pacific region.According to the report, the European region is noticing a rapid growth ratedue to the storage and tracker solution provided by the Radio-FrequencyIdentification. Moreover, Asia-Pacific countries like Japan, China, and Indiaare registered to be the fastest-growing market due to the increased size ofhigh data generation in developing countries.<o:p></o:p>
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