Globe Ranger and Smartarc N.V. Are Dominating the Market for Global RFID Market In 2016

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Global RFID Market
Globe Ranger and Smartarc N.V. Is Growing At a
Significant Rate in the Forecast Period 2017-2024

• Global RFID Market is expected to reach USD
  44,351.6 million by 2024 from USD 13,378.7
  million in 2016, at a CAGR of 16.3in the
  forecast period 2017 to 2024.
• The new market report contains data for historic
  years 2015, the base year of calculation is 2016
  and the forecast period is 2017 to 2024.

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Report Description

• The major factors driving the growth of this
  market are increase demand of RFID Technology in
  retail industry, enforced laws for labelling
  animals, increasing use of security and access
  control application and increasing installation
  of RFID in manufacturing units and for
  productivity improvement.
• On the other hand, high cost of RFID and device
  interoperability may hinder the growth of the
  market.

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Key Drivers

• High cost of RFID and device interoperability are
  the factor which may hinder the growth of this
  market
• Many companies are increasingly focusing on
  variability in the RFID tag with sensors and IOT
  based RFID labelling in order to strengthen their
  product portfolios in the RFID market.

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Market Segmentation

• The global RFID market is segmented on the basis
  of products, end user and geography. The global
  RFID-market is segmented into tags, readers and
  software tools. In 2017, the tags segment is
  expected to dominate the market with a share of
  56.5 and is expected to continue this trend till
  2024.
• Based on end user, the global RFID-Market is
  segmented into industrial, transportation,
  retail, consumer package goods, healthcare,
  education and others.

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Key Points Global RFID Market

• Tags market is growing with the highest CAGR
• Plastic material are driving the market with
  highest market share
• Industrial are dominating the RFID market

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