Wide Area RFID Systems Market Trends, Opportunities, and Forecast by 2031

MARKET OVERVIEW

Wide area RFID systems are essentially traditional RFID systems which can identify and locate numerous objects over a long range. The traditional deployment of RFID systems used to restrict the usability as the objects were identified and accounted for only at certain checkpoints and entrances. In case, if a detailed inventory check is required, operators would have to manually scan individual objects or products which requires immense amount of time and labor. Wide area RFID systems have offered a viable solution to various industries to identify and locate numerous objects simultaneously all across the facility.

MARKET SCOPE

The "Global Wide Area RFID Systems Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the wide area RFID systems market with detailed market segmentation by component, end-use industry, and geography. The report provides key statistics on the market status of the leading wide area RFID systems market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on component, the global wide area RFID systems market is segmented into tags, readers, antennas, and others.
  
•   On the basis of end-use industry, the market is segmented into automotive, retail, oil and gas, manufacturing, healthcare, and others.
  

MARKET DYNAMICS

Drivers:

•   One of the major factors driving the demand for wide area RFID systems is rise in innovative applications. RFID technology has been used in various end-use industries over a long period of time.
  
•   With decreasing costs of RFID tags and readers, wide area RFID systems are expected to witness significant rise in terms of adoption in the end-use industries.
  

Restraints

•   The use of this technology has been restricted to limited applications such as shipment tracking and inventory management.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The wide area RFID systems market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the wide area RFID systems market in these regions.

IMPACT OF COVID-19 ON WIDE AREA RFID SYSTEMS MARKET

COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the wide area RFID systems market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from wide area RFID systems market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the wide area RFID systems market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Barcoding, Inc.
  
•   Impinj, Inc.
  
•   Guard RFID Solutions, Inc.
  
•   Balluff GmbH
  
•   PervasID
  
•   SkyRFID Inc
  
•   Omnitec Group
  
•   Idesco Oy
  
•   Balogh Group
  
•   GAO RFID, Inc.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Wide Area RFID Systems Report Scope