Recently, Research And Markets, an international market research institute, released a report entitled "RFID market by product (label, reader, software and service), label type (passive, active), wafer size, frequency, shape (card, implant, key chain, label, paper label, frequency band), material, application and region - 2030 global forecast".
The report pointed out that the radio frequency identification (RFID) technology market is expected to reach US $35.6 billion by 2030, far higher than US $14.5 billion in 2022, and the compound annual growth rate (CAGR) during this period is 11.9%. During the forecast period, the UHF market divided by frequency will grow at the highest CAGR.
According to the research, from January 2018 to May 2022, the main strategies adopted by the main participants in the RFID market are product release and development. Other strategies adopted include partnership, cooperation, acquisition and expansion. The report points out that the demand for integrated solutions in the RFID market is increasing. Such solutions are designed to overcome some of the challenges associated with RFID systems based on a single technology, as they enable end users to deploy RFID technology in blind spots while reducing infrastructure requirements by utilizing existing technologies such as Wi-Fi or GPS.
ResearchAndMarkets reported that with the adoption of various forces, the Internet of Things (IoT) solution based on RFID has had an explosive momentum. According to the study, the decline of RFID tag costs, the widely accepted IP network and new business opportunities have contributed to the growing demand for such solutions. These technologies can track physical assets to improve the business processes and cost-effectiveness of many industries and government organizations.
The research subdivides the RFID market by product, label and region. The label is subdivided into wafer size, label type, frequency, application, external dimension and material. Research shows that the market share of 8 inch or 200 mm wafer size is the highest, and the output of this wafer is also the highest. The top three players in the market, Alien Technology, Impinj and NXP Semiconductor, all use 8-inch wafers for chip production. The report shows that many enterprises have been reluctant to turn to 12-inch wafers, because this will generate a large amount of equipment investment.
Post time: Jan-10-2023