24 OCTOBER 2017 BY MANGESH KANASE

RFID technology uses the electromagnetic signature that accompanies the radio frequency in a specific spectrum to communicate information, which is mostly one way. This process is carried out by the RFID microchip. The reader reads the information from RFID tags, and RFID middleware uses the data to create analytical insights. RFID technology uses the electromagnetic signature that accompanies the radio frequency in a specific spectrum to communicate information, which is mostly one way. This process is carried out by RFID microchip (RFID tag), RFID reader, and RFID middleware components.

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RFID Market Drivers, Challenges and Trends: –

Market Driver: –  one driver in market is increasing number of software solution vendors entering the RFID market. The emergence of cloud-based supply chain management systems has provided a huge opportunity for various software solution companies to offer services that include tracking, data management/analytics, and inventory management. Microsoft partnered with Mojix to develop a solution by integrating ethereum blockchain and Mojix’s IoT platform. This helps end-users to know when a shipped product goes missing. It also helps in strengthening the supply chain by eliminating the future loss of finished or semi-finished goods. Such market behavior is highly favorable for the RFID market as mid-sized retailers can make use of such solutions. In addition, the cost of initial procurement and annual subscription are significantly lower. Therefore, the cost relating to maintenance, update, or modification of the software is transferred to the solution provider.

Market Challenge: – one challenge in market is availability of low-cost identification methods. Though RFID provides many advantages over other identification methods, it is expensive. Small and medium-sized enterprises that do not have extensive disposable capital use barcodes because they are low-cost alternatives. The cost of implementing RFID is one of the major challenges in the global RFID market. It requires high initial investments for the deployment and integration of management solutions (middleware) with RFID. Most UHF readers cost around $450-$2,000, excluding the antenna charges. HF and LF RFID readers can cost around $100-$750. However, the ASP of RFID devices is expected to decline during the forecast period, thus making RFID devices more affordable for end-users.

Market trend: – One trend in market is rise of omni-channel retailing. Retailers sell their products and goods through multiple mediums such as brick-and-mortar stores, e-commerce, and m-commerce. This is called omni-channel retailing. With the growing penetration of the Internet and improving network infrastructure, retailers have started increasing their reach and have revolutionized customers shopping experiences with the help of e-commerce and m-commerce. This has helped retailers and wholesalers save costs on brick-and-mortar store rent, maintenance, and staff. Inventory visibility is the key to the success of online retailing/wholesaling and is important for vendors to create middleware solutions for specific end-user segments, such as retailers and wholesalers. To make omni-channel retailing successful, retailers need real-time information about the products inbound to the customer without any inconsistencies. This helps in providing a better shopping experience to customers. Retailers also need accurate inventory-tracking information to make better decisions and avoid out-of-stock situations by improving the distribution process

Market segmentation by product:- Market segmentation by end-user ; Geographic Segmentation: – Americas, APAC, EMEA

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To determine the RFID market size the report considers RFID tags (passive and active RFID tags), RFID systems (passive and active RFID systems), and middleware solutions. The report covers the market landscape and its growth prospects over the coming years. Report contains vendor landscape in addition to a SWOT analysis of the key vendors operating in RFID market space like Datalogic, Honeywell International, Zebra Technologies, Acreo Swedish ICT, Alien Technology and many more.

Some key points of RFID Market research report: –

What is status of RFID Market? This Overview Includes Analysis of Market trends, Prospect, Growth trend, Key buying criteria, Product offerings, Key takeaways. What will the market size be in 2021 and what will the growth rate be?

What Is RFID Competitive landscape considering Manufacturers, Types, Application; their business segmentation by revenue?

Market Effect Factors Analysis: What Are Drivers, Challenges and their impact? What are the crucial market trends?

Decision framework of RFID Industry; Consumer Needs or What Change Is Observed in Preference of Customer of RFID Market

What is RFID Market forecast Considering Market Size, Sales, Revenue, Growth rate, Price and Trends for Regions, Types and Applications?

This report provides new business dimensions with an eye on growth opportunities and contribution of upcoming market segments.