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The Asia Pacific RFID (Radio Frequency Identification) Technology Market would witness market growth of 15.4% CAGR during the forecast period (2017 - 2023). The Asia Pacific region would witness rapid growth during the forecast period. The growth in the region can be attributed to the growing demand for the technology from the fast-developing countries such as China and India.
The presence of many manufacturers and OEMs in the region would further propel the market growth in the region. The RFID technology would witness a healthy growth during the forecast period. Increasing demand for locating, tracking, and monitoring objects and beings for security, safety, and resource optimization are the factors that are driving the market growth.
The systems which are deployed within industries consist of tags, readers, and middleware. The tags hold the maximum market and would witness prime development activities during the forecast period. The deployment of passive tags presently is the largest; however, the active tags would gain momentum, as numerous new applications with tag size continually reducing have sprung in recent years. The major trends driving the growth of radio frequency technology adoption are automation, supply chain management, real-time intelligence, asset tracking and payments, and NFC. Based on Product, the market report segments the market into RFID Tags, RFID Readers, and Others.
Based on Frequency, the RFID (Radio Frequency Identification) Technology market segments the market into High Frequency, Ultra-High Frequency, and Low Frequency. Based on Vertical, the market report segments the market into Retail, Industrial, Healthcare, Government, Financial Services, Transportation & Logistics, and Others. Based on Countries, the RFID (Radio Frequency Identification) Technology market segments the market into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stakeholders of the RFID (Radio Frequency Identification) Technology Market. Key companies profiled in the report include Acreo Swedish ICT AB, Alien Technology Inc., Check Point Software Technologies Ltd., Datalogic S.P.A., Honeywell International Inc., Impinj Inc., Mojix Inc., NXP Semiconductors N.V., Zebra Technologies Corporation, and TIBCO (The Information Bus Company) Software Inc.