The RFID technology has been in utilize for countless years now; however, the present growth in its applications across a broad set of industries, such as retail, transport, medical, and defense, Amand is defending others, has encouraged its implementation. The retail industry is at the forefront and has monitored its technological reconnaissance with the utilization of RFID tags. An interesting fact of the retail segment is the manner it has successfully passed on the advantages of the technology to other industries in the supply chain with the support of the mandates.
Importance of RFID
According to the report analysis, ‘Europe Radio Frequency Identification (RFID) Market 2020-2026 by Component, Product Type, Frequency Band, Wafer Size, Application, Industry Vertical, and Country: Trend, Forecast and Growth Opportunity’ states that Alien Technology Corporation, AMS AG, Atmel Corp, BT Global Services, CipherLab Co., Ltd., Confidex Ltd, Corerfid, Ltd., Datalogic S.p.A., GAO RFID, Inc., Honeywell International, Impinj, Inc., Invengo Technology Pte. Ltd., NXP
Semiconductors, Omni-Id, Inc., RF Code, Siemens Aktiengesellschaft, SMARTRAC N.V., Tagmaster AB, Technology Solutions UK Ltd. (TSL), ThinkMagic (Trimble), Wavetrend, Ltd., Xerox Corporation, and Zebra Technologies Corporation are the great companies in which recently operating in Europe Radio Frequency Identification (RFID) market for leading the highest market growth and registering the great value of market share around the region during the forthcoming years while decreasing the associated prices, establishing the several research and development program, spreading the awareness connected to the applications of such, developing the qualitative and quantitative measures of such, analysing the strategies and policies of the government as well as corporate, opting the strategies and policies of the enlargements and profit making, and delivering the better consumer satisfaction.
Moreover, an essential aspect of the Europe RFID market is the varying nature of manufacturing and manifestly the related prices. The past decade has seen a considerable deduction in the production costs with the advent of several new technologies such as printing and ink-jet. As the vendors’ advantages from such trends in the market, the growing the penetration of cost-to-volume benefits are likely to perpetuate to the end user. RFID devices are estimated to witness a surge in requirement as the technological proliferation has led to an extensive optimization of smart cards, access control, and other NFC applications. In addition, the usage of Ubiquitous Sensor Networks (USNs) and many short-range wireless communications, such as WiFi and Zigbee, is likely to assist in the Europe RFID market growth. To sum up the trends in the market, the RFID industry is projected to witness a healthy growth during the coming years with technology, cost, and size propelling it’s speedy deployment.Not only has this, the RFID technology is likely to witness a steady growth in the forthcoming years, which is attributed to the increasing requirement for locating, tracking, and observing objects and beings for security, protection, and resource optimization. As the world moves toward real-time location systems (RTLS), sensor networks, and the internet of things (IoT), radio frequency identification devices are likely to play an increasingly essential role in capitalizing on such technologies.
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Ankur Gupta, Head Marketing & Communications