NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/02/26 - With the increasing usage in different applications, the RFID market is expected to grow at a CAGR of around 17% during 2011-2013, says RNCOS.
Despite the economic problems, 2009 witnessed significant progress in the applications of RFID technology. In future also, the segment is expected to show positive growth. According to our research report “Global RFID Market Analysis till 2010”, the RFID market is expected to grow at a CAGR of around 17% during 2011-2013. The reason for this phenomenal growth is that, various applications across different verticals have emerged around this technology.
According to our analysis, the current market remains driven by applications, such as contactless payment, anti-counterfeiting/authentication, ID documents (e-passports, national ID, healthcare cards), item level tagging, and animal identification. Usage of RFID in pharmaceutical, healthcare, and in numerous vertical markets will drive the RFID uptake in near future. In our report, we have analyzed all the drivers that will drive growth in the RFID market.
At the regional level, we have found that the Asia-Pacific will witness the maximum growth in terms of revenue. We have also found that maximum enterprises in the European countries are using RFID for person identification/access control, while in the Asia Pacific countries logistics and retail are the emerging sectors using RFID technology. In this regard, our report has done a regional level analysis by segmenting the RFID market into Americas, EMEA, and the Asia-Pacific. The forecasts have also been included for RFID market size of these regions and for various countries analyzed under these regions.
Our report provides an extensive research and prudent analysis of the RFID market worldwide. Various established and emerging RFID applications in different verticals have been covered in the report to understand the current and future market outlook of RFID in these verticals. It also discusses the global RFID market rationally and helps clients to analyze the opportunities and factors critical to the success of global RFID industry both in short and long-term. Besides, the report includes the RFID market trends and developments in various key countries across the world.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.