Organic RFID Device Market

Radio-frequency identification corresponds to a technology which enables a reader capture digital data which is encoded in RFID tags or smart labels through radio waves. RFID is a sub-part of a technology community that is known as automatic identification and Data Capture. Automatic identification and data capture methods identify objects, collect data respective of them and directly inputs that data in computer systems with few little or no human assistance. The use of RFID tags has expanded across industrial applications for their positive qualities such as real-time tracking of shipments and fraud prevention.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The growth of the organic RFID market is attributed to the rise in need for efficient supply chain management in various developed and developing countries of Asia, Middle East & Africa. The growth in demand for RFID technology for monitoring & classifying in Healthcare & Medical sectors and Logistics & Transportation, and this is expected to drive demand for technology. Key factor to such remarkable growth is its ability to replace RFID based on silicon. Organic RFID is be a cost-effective option for tags, due to the cost of materials and manufacturing would decrease over time. Therefore, it is expected to grow the market penetration.

The global organic RFID device market is segmented on the basis of type, product, frequency band, application, industry vertical, and region. Based on type, the market is further bifurcated into active and passive. Based on product, the market is divided into tags, reader, and software. Based on frequency band, the market is classified into low frequency, high frequency, and ultrahigh frequency. Based on application, the market is further bifurcated into access control, livestock tracking, ticketing, cashless payment, and inventory management. Based on end-user, the report segments the market into transportation and logistics, healthcare, hospitality, food & beverages, retail, manufacturing, and government. Geographically, the global market is analyzed across North America (Canada, Mexico, U.S.), Europe (France, Germany, UK, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Rest of Asia-Pacific), LAMEA (Africa, Latin America, Middle East). 

Key players of the global organic RFID device market analyzed in the report include Balluff Inc., AB&R (American Barcode and RFID), VisuaScan Inc., Imprint Enterprises, Coridian Technologies, Inc., AbeTech Corporate, Invengo Technology Pte. Ltd., Applied Wireless, CAEN RFID, Honeywell.

The global organic RFID device market trends are as follows:

Inventory & equipment in businesses need to be tracked

Innovative optical based system such as barcode for inventory or equipment logistics offers monitoring, along with read / write capabilities. RFID helps handle stock changes and make service easy for supply chain management in retail industry during commodity transport & logistics. This increases the demand for RFID devices.

Strong protection provided by RFID devices

The information that a barcode imprints is fixed and cannot be changed. RFID tags, by contrast, have computer-like electronic memory to store information about the item. This information is used in various applications such as retail, transportation, corporate security, and also in large-scale commercials. In addition, RFID tags installed in jewelry stores help to identify unauthorized attempts by activating alarm to move the jewelry items away from the premises. Compared to barcode scanners this mechanism provides robust security hence, driving the growth of organic RFID device market.

RFID sensors market is expected to experience a rise in demand due to penetration of technology which has led to widespread application of access control, smart cards, and other NFC applications. Furthermore, the application of Ubiquitous Sensor Networks (USNs) and other wireless short-range communications, such as WiFi and Zigbee, is anticipated to support the development of the RFID market. Therefore, the organic RFID device industry is expected to witness a growth in industry demand over the years with the advancement of technology, costs and scale driving its rapid deployment.

COVID-19 scenario Analysis:

• COVID-19 has affected the global market in various manners such as by directly impacting production and demand, has created supply chain disruption, and has also financial impact on corporations and financial markets.
• Honeywell has transitioned onsite visitor meetings to virtual conference or postponed such meetings altogether where necessary or where the meeting is not business-critical and tried to address any potential supply chain disruptions.
• A task force set up for this reason in the Supply Chain division continuously tracks and reviews the overall situation in order to preserve its ability to perform in the best possible way and in the anticipated condition of the Balluffs. Deliveries to the Local Distribution Centers (LDC) around the world from the Global Distribution Center (GDC) in Hong Kong are currently being ensured. On 11 February, the company's sales office in Shanghai and its Chengdu plant resumed operations.
• The operations team of Coridian Technologies is in constant communication with the supply chain teams of the vendors and manufacturers of the company to check any disruptions related to the product.

Key benefits of the report:

• This study presents the analytical depiction of the global organic RFID device industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global organic RFID device market share.
• The current market is quantitatively analyzed to highlight the organic RFID device market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global organic RFID device market size analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the organic RFID device market research report:

• Which are the leading market players active in the organic RFID device market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the organic RFID device market?
• What are the projections for the future that would help in taking further strategic steps?

 Organic RFID Device Market Report Highlights