RFID (Radio Frequency Identification) is a form of wireless communication which uses the radio waves in order to capture or read data which is stored on the tag of any object, person or an animal. RFID device is a substitute of barcodes. RFID provides a unique identification for the object to which it is attached. The major components of RFID system are tags, readers and software tools. RFID technology is accepted in wide range of applications which includes tracking livestock, consumer products, vehicles, airline passengers among others. RFID stands for the Radio Frequency Identification which utilizes the electromagnetic field for any identification or tracking of any object, person or animal by recording the presence. It consists of two parts tag and reader and act same as magnetic strip or barcode.
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 are furthermore boosting the growth of the Asia-Pacific RFID market.
Asia-Pacific RFID Market is projected to register a CAGR of 17.3% in the forecast period of 2019 to 2026.
Segmentation: Asia-Pacific RFID Market
RFID market is segmented into two notable segments such as product and end user.
On the basis of product, the Asia-Pacific RFID market is segmented into tags, readers, software. Tags are further sub segmented into product type, type, frequency, application, form factor, material. Product type is further categorized into inlay tag, composite tag, ceramic tag. Type is further categorized into active tag, passive tag. Frequency is further categorized into low frequency, high frequency, ultra-high frequency, others. Application is further categorized into retail, asset management, logistics, airlines, healthcare, people management, embedded systems, access control/ ticketing, others. Form Factor is further categorized into label, card, plastic mouldings, wristband, buttons, key fob, implant, badges, others. Material is further categorized into plastic, paper, metal, glass, others.
In April 2019, Alien Technology, LLC (U.S) launched the Higgs-9 next generation of Higgs RFID semiconductor integrated circuits. The new Higgs-9 provides enterprise critical application for faster, smarter and quicker ROI in RFID deployments.
On the basis of end user, the Asia-Pacific RFID market is segmented into industrial, transportation, retail, consumer package goods, healthcare, education, others.
In 2018, Alien Technology, LLC (U.S.) launched ALR-S350 RFID reader. It is beneficial for retailers and supply chain owners inventory tracking challenges, cut costs, and ultimately transform the customer experience and enables new omni-channel business models.
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Competitive Analysis: Asia-Pacific RFID Market
Some of the major players operating in this market are Alien Technology, LLC, CCL Industries, Impinj, Inc, Invengo Technology Pte. Ltd, Nedap, AVERY DENNISON CORPORATION, Confidex Ltd, Omni-ID, HID Global Corporation, HONEYWELL INTERNATIONAL INC, ZEBRA, Checkpoint, NXP Semiconductors, Securitag Assembly Group Co., LTD and others.
In February 2017, Invengo Technology Pte. Ltd (China), introduced slimmest UHF RFID tag for linen tracking named as the LinTRAK-Slim or the laundry and textile services industry.
In May 2016, Invengo Technology Pte. Ltd (China), launched state-of-the-art XC-RF868 RAIN RFID IoT Reader at RFID Journal LIVE so as to address industry-wide solutions including retail, manufacturing and healthcare.
In January 2016, CCL Industries (U.S), Checkpoint’s Micro RFID Labels designed for beauty, smaller health, cosmetic and retail merchandise applications in order to overcome the densely packed merchandising display challenges.
In September 2017, CCL Industries (U.S), Checkpoint Systems launched EVOLVE-Store update which allows retailers to monitor, measure and manage their stores along with the data.
Research Methodology: Asia-Pacific RFID Market
Primary Respondents: Key Opinion Leaders (KOL’s): Manufacturer, Healthcare Professionals, Doctors, Nurses, Medical practitioners. Industry Participants: CEO’s, V.P.’s, Marketing/Product Managers, Market Intelligence Managers and, National Sales Managers.
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