Driven by lower prices of radio-frequency identification (RFID) tags, and increasing penetration of RFID technology in various industries, the RFID market is likely to witness high growth in coming years. RFID Market, by Application:
- Animal Tracking/Agriculture
- Logistics and Supply Chain
- Security and Access Control
- Smart Manufacturing
Reduction in the costs have led to rise in adoption of RFID tags; demand for the tags continue to raise competitive situations in the RFID market, which in turn will lead to further innovations in the RFID systems.
The RFID market for passive tags is growing, owing to factors such as small size, low cost and long lifetime, passive tags are expected to gain more traction than active tags. Demand for passive UHF (RAIN RFID) tags have also seen a large adoption after the evolution of RAIN RFID alliance.
Ultra-high frequency (UHF – RAIN RFID) tags enable multiple tag reading that means user can read more RFID tags in one go, which is not supported by LF and HF. Multiple tag reading helps in reducing error, thus facilitating efficiency in automation. UHF (RAIN RFID) is currently the only type of RFID to be regulated by a single global standard.
RFID technology enables the commercial industry to identify and track items, and thus, enhance data center and warehouse management across various verticals such as IT asset tracking, laundry management, and jewelry tracking. The increasing population, along with rising commercialization, are driving investment in the AutoID systems and software.