Global RFID Market for Industrial Applications 2016-2020 - Increased Adoption of RFID Systems for Inventory Management Drives the Market - Research and Markets
DUBLIN, May 23, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Global RFID Market for Industrial Applications 2016-2020" report to their offering.
The global RFID market for industrial applications to grow at a CAGR of 19.2% during the period 2016-2020.
Global RFID Market for Industrial Applications 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the present scenario and the growth prospects of the global RFID market for industrial applications for 2016-2020. To calculate the market size, the report considers the revenue generated from RFID used for only manufacturing applications. The market size includes the revenue generated from both the licensing of software as well as the shipment of RFID hardware. The report also includes a discussion of the key vendors operating in this market.
A recent trend in the RFID market is the increased R&D spending by vendors. Leading vendors such as Honeywell and Datalogic have increased their investment in the R&D of RFID devices. Datalogic spent $43.66 million in 2015 on R&D, an increase of 34.17% when compared to $34.54 million in 2014. Also, many vendors are partnering with software and hardware suppliers to develop technologically advanced products. This focus on R&D has helped vendors introduce RFIDs that are increasingly cost-effective as well as provides data security. Thus, the improved accuracy and reduced prices of RFID devices are leading to increased adoption among several major end-users in the market.
According to the report, a key driver of market growth is the use of RFID to reduce errors during the data entry process. Manual data entry is time consuming and there is a high possibility of introducing errors. With the introduction of RFID and barcode systems, firms can record and recognize data entries automatically and more accurately. These systems help detect warehouse errors such as collecting the wrong goods.
Further, the report states that one challenge that could impact market growth is the lack of awareness about RFID technology among potential end-users.
Key vendors
- Honeywell
- Zebra Technologies
- Datalogic
Other prominent vendors
- Acreo Swedish ICT
- Alien Technology
- Avery Dennison
- Checkpoint Systems
- Cipher Lab
- CoreRFID
- Fieg Electronics
- Global Ranger
- GAO RFID
- Impinj
- InSync Software
- Mojix
- Nedap
- RFID4U
- RF Ideas
- Skyetek
- Smartrac
- Software AG
- SATO VICINITY
- TAGSYS RFID
- Tellaog
- TIBCO Software
- Tyco Retail Solutions
- ThinFilm
- ThingMagic
- Xterprise
Key Topics Covered:
PART 01: Executive summary - Highlights
PART 02: Scope of the report
- Scope
- Definitions
- Common currency conversion rates
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Technology landscape
- Components of RFID system
- Difference between NFC, RFID/EPC tag, and traditional bar code
PART 06: Industry overview
PART 07: RFID value chain
PART 08: Market landscape
- Market overview
- Market size and forecast
- Five forces analysis
PART 09: Geographical segmentation
- Segmentation of global RFID market for industrial applications by geography
- Americas
- EMEA
- APAC
PART 10: Market drivers
- Increased adoption of RFID systems for inventory management
- Use of RFID system for error reduction in data entry
- Increased need for RFID middleware
PART 11: Impact of drivers
PART 12: Market challenges
- Threats to data security
- High initial investment
- Low awareness among potential users
PART 13: Impact of drivers and challenges
PART 14: Market trends
- Increased R&D spending by vendors
- Growing popularity of smart factories
- Cloud-based RFID solutions
PART 15: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/4px3mx/global_rfid
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