Radio frequency identification (RFID) is an automatic wireless data capture technology. It uses radio waves to gather information from tags that are attached to objects for various purposes, such as tracking and automatic identification.
Radiant Insights’s analysts forecast the global RFID market for industrial applications to grow at a CAGR of 2.28% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global RFID market for industrial applications for 2018-2022. To calculate the market size, the report considers the revenue generated from sales of RFID products across several industrial applications.
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The market is divided into the following segments based on geography:
• Americas
• APAC
• EMEA
Global RFID market for Industrial Applications 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Key vendors
• Alien Technology
• Honeywell
• Impinj
• Unitech Electronics
• Zebra
The report “Global RFID Market for Industrial Applications 2018-2022” is available now at https://www.radiantinsights.com/research/global-rfid-market-for-industrial-applications-2018-2022
Market driver
• Increase in industrial applications of RFID
• For a full, detailed list, view our report
Market challenge
• Data security and consumer privacy issues
• For a full, detailed list, view our report
Market trend
• Vendors offering cloud-based RFID solutions
• For a full, detailed list, view our report
Key questions answered in this report
• What will the market size be in 2022 and what will the growth rate be?
• What are the key market trends?
• What is driving this market?
• What are the challenges to market growth?
• Who are the key vendors in this RFID market space?
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The following manufacturers are covered in this report, with sales, revenue, market share for each company:
Market size by End User
Industry InsightsThe global RFID blood monitoring systems market size was estimated at USD 104 million in 2014.
Rapidly consolidating healthcare sector and increase in volume of blood & related products inventory is further boosting up the demand for this technology in healthcare industry.Technological advancements in RFID systems will not only provide identification details but also provide location information on a real time basis, which will further boost demand among end-users for these devices.
Increase in R activities for the development of new management solutions and rising concerns for patient safety is expected to propel the growth of RFID blood monitoring systems.
Growing adoption of RFID technologies by the hospitals and blood banks particularly in blood freezers and refrigerators further surges demand for this technology.Download Full Research Report on RFID Blood Monitoring Systems Market @ https://www.millioninsights.com/industry-reports/rfid-blood-monitoring-systems-marketSome of the other factors driving the growth of the market are favorable regulatory policies for the approval of RFID technologies and rising trend of privatization of healthcare infrastructure that led to the introduction of modern technologies in the healthcare settings.
In 2013, FDA approved iTrace which is a RFID-based tracking system that can be used in blood banks systems.Product InsightsRadio frequency identification held majority of the market share in terms of revenue, with over USD 60 million in 2014 pertaining to the factors such as growing concerns for patient safety, increasing adoption of smart medical devices, favorable government initiatives, and rising need for reduction in healthcare cost.
In addition, various application of RFID in healthcare system further drive the demand over the forecast period.Radiofrequency identification tags held the significant market share owing to the demand of technologically advanced products such as alternative tags and sensory tags designs that uses Smart Active Label Technology (SAL) which is less susceptible to metal and liquid.
