Global RFID Market for Industrial Applications | Evolution of Industry 4.0 Promotes Growth | Technavio
LONDON--(BUSINESS WIRE)--Jun 6, 2018--The global RFID market for industrial applications is expected to grow to USD 4.2 billion by 2022, according to the latest market research report by .
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Technavio has published a new market research report on the global RFID market for industrial applications from 2018-2022. (Graphic: Business Wire)
A key factor driving the market’s growth is the evolution of Industry 4.0. Industry 4.0 is related to a smart factory. Industry 4.0 allows manufacturers to access detailed, real-time data at any point during a process. The connected ecosystem using the Internet of Things (IoT) will be instrumental in helping manufacturers and consumers provide improved communication and monitoring systems and increased automation.
This market research report on the provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio predicts an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the deployment of RAIN RFID in manufacturing industries as one of the key emerging trends in the global RFID market for industrial applications:
Global RFID market for industrial applications: Deployment of RAIN RFID in manufacturing industries
RAIN RFID is a new term often used to refer to UHF FRID. RAIN RFID has proven to be highly effective in the retail space for item-level tagging and in-store inventory management. RAIN RFID is incorporated with a greater volume of chips and a higher number of chip-antenna combinations, making it just as impactful as HF RFID for manufacturers.
“Automotive manufacturers are using RAIN RFID to track returnable containers or bins. This eliminates the need for time-consuming human intervention or error-prone line-of-sight activities. RAIN RFID is deployed in industries, particularly manufacturing industries,” says a senior analyst at Technavio for research on human machine interface.
Global RFID market for industrial applications: Overview and segmentation
This market research report segments the global RFID market for industrial applications into the following products (RFID tags, RFID readers, and RFID middleware), applications (manufacturing process, material handling and other processes, and transport and logistics), and key regions (the Americas, APAC, and EMEA).
The RFID tags segment held the largest market share in 2017, accounting for nearly 43% of the market. The market share of this segment is expected to increase by more than 1% by 2022.
The Americas accounted for the largest share of the global RFID market for industrial applications in 2017, contributing to a market share of over 44%. It was followed by EMEA and APAC respectively. The APAC region is expected to demonstrate the fastest growth during the forecast period.
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