Research conducted by Technavio reveals that the global RFID market is expected to grow at a CAGR of 26 percent. The report which focuses on the Americas, Europe and the Asia-Pacific indicates, that the market is currently driven by large investments being made by various governments across the world.
Technavio analyst says, Several countries like China and the US invest heavily in RFID to use them for government related purposes. This trend will prove to be a key driver for this market.” In spite of the need, the short lifetime of the RFID tags continues to hinder the growth of this market. However, the market is expected to see exponential growth with increased demand from the largest end users of RFID tags “ the transportation industry.
The global RFID market is marking emergence of next generation sophisticated RFID technology. This makes the study an important one for companies to fully understand the potential in the market and formulate its own strategy.
The report, Global RFID Market 2010-2014, is based on an extensive research from inputs by industry experts, vendors and end-users. It examines the factors including the key trends, drivers and challenges, impacting the evolution of this market. Further, it contains an in-depth understanding of the key vendors including their SWOT Analysis. Companies mentioned in this report include Alien Technology and Motorola.
For further information, please visit https://www.technavio.com/content/global-rfid-market-2010-2014
Large Government Investments Encouraging Adoption of RFID
