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The Global RFID (Radio Frequency Identification) Technology Market size is expected to reach $27.5 billion by 2023, rising at a market growth of 14.1% CAGR during the forecast period. 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. With a shift towards Real Time Location Systems (RTLS), sensor networks, and Internet of Things (IoT), radio frequency identification devices would play a pivotal role in taking full advantage of the aforementioned technologies.
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 Regions, the RFID (Radio Frequency Identification) Technology market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders 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.