iCrowdNewswire Feb 22, 2021 10:00 AM ET
RFID Tag technology is beneficial technology and is often used to protect and track company’s assets. Radio Frequency Identification (RFID) technology uses electromagnetic fields to transmit data from an RFID tag to a reader. RFID tags enhance effectiveness and efficiency of the asset tracking.
Growing adoption of RFID based asset tracking solution is considered as key driving factor which expected to boost the global RFID tags for asset tracking market growth during this forecast period. Furthermore the increase in usage of security and access control application will positively influence the market growth. Also, the increase in government initiatives will support the market. Moreover, continuous technological advancements which expected to drive the growth of global RFID tags for asset tracking market. In addition, the rise in demand for IoT based RFID tags for asset tracking expected to fuel the market growth.
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High installation cost is the major restraint which expected to hamper the global RFID tags for asset tracking market growth over the forecast period. Also, lack of backend data support may hamper the global RFID tags for asset tracking market growth.
Market Segmentation
The Global RFID Tags for Asset Tracking Market is segmented into type such as Metal Tags, and Liquid Tags. Further, market is segmented into application Commercial, Industrial, Medical, and Others.
Also, the Global RFID Tags for Asset Tracking Market segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Vizinex RFID, GAO RFID, Bar Code Integrators, Litum Group,CYBRA Corporation, American Barcode Coresonant Systems, Omni-ID, Entigral Systems, Roper Technologies, Orbcomm, etc.
Market Taxonomy
By Type
- Metal Tags
- Liquid Tags
By Application
- Commercial
- Industrial
- Medical
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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