"Growing demand for the inventory management solution among the retail & e-commerce sector is driving the RFID sensor market"
Globally, the RFID sensor market is expected to grow with a CAGR of 9.2% during the forecast period from 2019 to 2027, starting from US$ 12.5 Bn in 2018. The growth of the market is attributed to the increasing adoption of inventory management solutions among the retail and e-commerce sector. Over the past decade, the retail industry is going through a phase of digital disruption. The emergence of the e-commerce industry along with the globalization across the retail industry, the need to manage the supply chain and reduce the inefficiencies is encouraging the adoption of the RFID sensors. The retailers are leveraging on the RFID sensors to keep track of their inventories and for the asset management applications.
Moreover, the supportive government initiatives to mandate the adoption of RFID tags for the asset management application in public transportation are also accelerating the market growth. Additionally, the widespread use of RFID sensors for the security application is also driving the market.
Market Synopsis
Get a sample copy for more information
"RFID tags are dominating the RFID sensors market due to large scale adoption across the several industry verticals"
RFID tags account for majority share in the RFID sensor market due to its wide adoption for the asset management application across several industry verticals. The organizations are using the RFID tags to keep track of their assets. The tags are widely used across the healthcare and retail industry to restrict the counterfeiting of the products. The tags are also used in the consumer electronics and automotive sector for establishing the wireless communication between the devices.
The smartphone manufacturers are using the RFID tags and readers to transmit data from one device to another. The companies are also utilizing the capabilities of the RFID tags for facilitating the non-contact payment via smartphones. Automakers are also utilizing the tags to provide non-contact access to the vehicle door and engine via smartphones.
Get a sample copy for more information
"North America is leading the RFID sensors market"
North America is leading the RFID sensors market with over 35% share in the revenue in 2018. The market is driven by the rapidly growing e-commerce industry in the region. The retail e-commerce sales in the US is estimated to account for more than USD 500 bn across all product categories in 2018, the number is further estimated to cross USD 700 bn by 2023. This indicates the huge potential of the e-commerce industry in the region. As the e-commerce industry in the region grows, the need for an effective system for inventory management also arises. This augments the demand for the RFID sensors market. Moreover, the government regulations to mandate the use of RFID sensors for asset management in the healthcare and public transportation sector are supporting the market.
Get a sample copy for more information
The major players in the RFID sensors market are AbeTech Corporate Inc., Balluff Inc., AB&R (American Barcode and RFID), Coridian Technologies, Honeywell Internationals PLC, ELA Innovation, Imprint Enterprises, Murata Manufacturing Co. Ltd., Invengo Technology Pte Ltd., NXP Semiconductors Inc., Tibco Software Inc., SMARTRAC, Vitaran Electronics, VisuaScan Inc., and Zebra Technologies Corp.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027 considering 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The RFID sensor market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global RFID sensor market based on product, frequency, application and geography. Key segments covered in the report are as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Billion |
| Segmentation |
Product Segment (2017–2027; US$ Bn)
• RFID Tags
• RFID Readers
• Middleware
|
|
Frequency Segment (2017–2027; US$ Bn)
• Low frequency
• High frequency
• Ultra-high frequency
|
|
Application Segment (2017–2027; US$ Bn)
• Government
• Healthcare & Life science
• Industrial
• Retail
• Transportation & logistics
• Others
|
|
Geography Segment (2017–2027; US$ Bn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of RFID sensor in 2018 and forecast up to 2027?
- Which is the largest regional market for RFID sensors?
- What are the major trends followed in RFID sensor market across different regions?
- Who are the key companies in the RFID sensors market?
- What are the key strategies adopted by the leading RFID sensor companies in market?
Unique data points of this report
- Statistics on RFID sensors and spending worldwide
- Recent trends across different regions in terms of adoption of RFID sensor for industries
- Notable developments going on in semiconductor industry
- Attractive investment proposition for segments as well as geography
- Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)
