Increasing Adoption of RFID Tags to Augment Growth of the Global RFID Market | Mojix, Inc., RFID4U, Alien Technologies
Global RFID Market, by Region – Size, Share, Outlook, and Opportunity Analysis, 2023 – 2026
SAN FRANCISCO, CALIFORNIA, UNITED STATES, April 18, 2023 /EINPresswire.com/ — ?????? ????????:
RFID (Radio Frequency Identification) is a type of wireless communication that employs tags to track the details of items. RFID tags search, identify, track, and communicate with people or goods using radio frequency. Furthermore, RFID tags can contain vital information ranging from serial numbers to a brief description and even pages of data. RFID use electromagnetic waves to detect and track tagged objects attached to bags, parcels, and/or other goods having a hard or plastic cover. RFID has numerous advantages for both organizations and consumers. RFID tags can track and monitor products inside a warehouse, in addition to improving security and monitoring systems. Furthermore, RFID helps to strengthen data security from cyber threats, which aids in control data loss and secure data from unauthorized access.
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Major players operating in the global RFID market are :
▪ TIBCO Software
▪ Impinj, Inc
▪ Mojix, Inc
▪ RFID4U
▪ Zebra Technologies
▪ Smartrac N.V
▪ Alien Technologies
▪ NXP Semiconductors, Inc
▪ Honeywell International, Inc
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During the projected period, the RFID market is expected to develop due to increased demand for or adoption of RFID from various end-use industries. RFID tags can be used in a variety of industries, including retail, healthcare, aerospace, defense, logistics, manufacturing, and government. For example, Fresenius Kabi will debut RFID smart labels for a variety of vital pharmaceuticals often used in operating rooms in the United States in August 2020. Hospitals can use smart labels to automatically identify, locate, and manage their inventory.
Furthermore, the increased installation of RFID tags in manufacturing units to improve productivity as a result of COVID-19 is likely to boost the RFID market’s growth. In February 2022, for example, SML RFID, an RFID tag provider, announced the addition of four new features to its Clarity software application suite to assist retailers as they recover from COVID-19-related shutdowns, as well as to enable efficient supply chain and inventory management for retailers affected by the COVID-19 outbreak (global pandemic).
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The introduction of COVID-19 has had a significant impact on the expansion of the RFID market. The COVID-19 epidemic damaged not only the operations of different RFID firms, but also the businesses of their partners and/or distributors. However, the healthcare industry is using RFID-enabled technologies to improve patient and employee safety during the COVID-19 pandemic. This, in turn, is likely to boost market growth.
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1. Due to government regulations encouraging digital development, the RFID market is estimated to grow at a CAGR of XX% during the forecast period. For example, the South Delhi Municipal Corporation (SDMC) in India mandated that commercial cars with RFID tags enter the national capital by August 2021. Toll taxes for business vehicles can now only be paid through RFID tags or systems.
2. North America, Europe, and Asia Pacific are expected to experience robust growth in the RFID market due to increased RFID tag implementation, growing RFID tag acceptance, rising adoption of Industry 4.0, IoT, and smart manufacturing, favorable government policies, and the outbreak of COVID-19 in these regions.
3. Avery Dennison, for example, announced the release of the AD-332u8 RAIN RFID inlay in September 2020, which excels in high density, close proximity situations and can be utilized for inventory accuracy and supply chain management.
4. Furthermore, Nedap NV announced the launch of the Nedap iD Cloud Platform in September 2021, a comprehensive suite of SaaS solutions designed specifically for RFID technology.
Mr. Shah
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