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RFID Market 2017 - Global Forecast to 2023 - Increasing Installation of RFID in Manufacturing Units for Productivity ImprovementDUBLIN, July 21, 2017 /PRNewswire/ -- The "RFID Market by Product (Tags, Reader, and Software), Wafer Size, Working (Passive, and Active), Frequency( Low/High, Ultra-high), Applications, Form Factor (Button, Card, Electronic Housing, Implants), Label Type and Region - Global Forecast to 2023" report has been added to Research and Markets' offering.  The radio-frequency identification (RFID) market is expected to be valued at USD 31.42 Billion by 2023, growing at a CAGR of 7.7% between 2017 and 2023 The growth of this market is fueled by the increasing installation of RFID in manufacturing units for productivity improvement; increased usage of security & access control application; increasing government initiatives; high adoption of RFID technology in retail industry; and development in the RFID ecosystem through organic growth strategies such as mergers and acquisitions, and collaborations. Among all products in the RFID system, the market for RFID tags is expected to grow at the highest CAGR between 2017 and 2023. Reduction in the costs have led to rise in adoption of RFID tags; demand for the tgs will continue to raise competitive situations in the market, which in turn will lead to further innovations in the RFID systems. The RFID market for passive tags is expected to grow at a high rate between 2017 and 2023. Owing to factors such as small size, low cost and long lifetime, passive tags are expected to gain more traction than active tags. Demand for passive UHF RFID tags have also seen a large adoption after the evolution of RAIN RFID alliance. With members such as AIDC industry association AIM Global, Google, Impinj, Intel and SMARTRAC, the alliance has effectively worked on spreading the awareness among the end users and potential customers
For more information about this report visit https://www.researchandmarkets.com/research/4knwj6/rfid_market_by Media Contact: Laura Wood, Senior Manager
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