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(Wireless-NewsWire.Com, September 19, 2018 ) According to Verified Market Intelligence, the global RFID market was valued at USD 17.71 Billion in 2017 and is projected to reach USD 30.98 Billion by 2025, growing at a CAGR of 7.2% from 2018 to 2025.
Radio frequency identification (RFID) is a technology that uses radio waves to capture digital data stored on an RFID tag. These tags are capable of reading information from up to several feet away and does not require to be within the direct line of sight of the reader. It mainly comprises a tag and a reader. RFID tags are usually fixed on a transmitter and a receiver. It offers numerous advantages such as no requirement of line of sight, real-time tracking, portable databases and resistance of tags to a harsh environment and many more.
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Increase in the number of installments of RFID in manufacturing unit, the increased initiative by the government and high adoption rate of RFID in the retail industry have been driving the global RFID market. While high installation costs of RFID technology might hinder the overall growth of the market at a global level.
The “Global RFID Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as brooks automation, Grifols Wurth Group, Log tag, Logi tag, Wave mark, Mobile aspects, and Hurst green plastics. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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