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RFID (Radio Frequency Identification) Technology Market, By Products (Readers, Tags, and Middleware), By Application (Hospital, Blood Transfer, Pharmacy – Patient Medication, Patient Identification, and Localization) and Geography (NA, EU, APAC, and RoW) – Analysis, Share, Trends, Size, & Forecast From 2014 – 2025

210 Pages | Published Date : 18 / 01 / 19  | Report Code: AV211 | Report Format: PDF

REPORT HIGHLIGHT

The RFID (Radio Frequency Identification) technology market is estimated to represent a global market of USD 11.93 billion by 2017 with growth rate of 15.1%. 

Market Dynamics

Radio-frequency identification (RFID) works on radio frequency technology, wherein digital information is encoded in smart labels or RFID tags. This technology is based on wireless technology that utilizes radio-frequency electromagnetic waves for transferring data from a tag attached to an object, for various reasons such as tracking of objects and automatic identification. RFID technology holds immense potential in the healthcare industry owing to the growing use of tagging for locating various healthcare assets, increasing demand for reducing medication errors and combating counterfeit.

Radio-frequency identification system minimizes the risk of unacceptable (i.e., recalled, and expired), counterfeited, and adulterated drugs by enabling manufacturers to track products as it moves through the supply chain. Thereby, companies can achieve more accurate recalls, improve their operational efficiencies, and in the long run, gain valuable business proficiency. Likewise, due to enhanced visibility over the value chain, helps hospital facilities to stop the growth and spread of “unofficial” inventory. Major applications of RFID in healthcare are tracking medical hospital equipment, patient identification, tracking medication from pharmacy to patient and blood transfer monitoring. On contrary, despite such bright prospects vis-à-vis revenue, the global industry is expected to face challenges in terms of increasing sale of cheaper barcode systems and privacy issues.

Products Takeaway

In terms of products, the market is broadly divided as readers, tags, and middleware. RFID Tags are the largest revenue-generating segment, accounted for over 60% of the industry revenue throughout the study period. Wide application areas in various assets, drugs, and medical devices support the segment growth. The RFID tag is a device, which consists of a microchip attached with an antenna.

Application Takeaway

Application wise, the industry is bifurcated as Hospital Equipment Tracking, Blood Transfer Monitoring, Pharmacy – Patient Medication Tracking, Patient Identification, and Localization. Among which hospital equipment tracking recorded maximum revenue share, with USD 896.3 million in 2017. This system is proven to be the most effective technology in tracking medical devices as it eliminates the extra time consumed during the usage of conventional tracking systems.

Regional Takeaway

Regionally, North America accounted for the highest revenue share. The market is determined to cross more than USD 1.5 billion in 2017 owing to the favorable government initiatives coupled with the technology advancements. In addition, Asia Pacific region is considered to be an important market due to the recent increase in the product installations in hospitals and other medical facilities.

Key Vendor Takeaway

Companies namely Accenture, Atmel, 3M, HITACHI, Siemens, IBM, and AAID Security Solutions are operating in this market. The global industry is largely consolidated with top 10 players accounting for more than 80% share of the market revenue. This leads to high competition among the smaller players to grab their share of the pie. In addition, there are significant pricing pressures within the industry that enunciates the strong rivalry among the key players. A key element of companies’ business strategy includes expansion through the acquisition of assets, products, technologies or complete businesses that allows them to complement existing product offerings and hence expand market coverage.

The market size and forecast for each segment and sub-segments has been considered as below:

  • Historical Year – 2014 & 2016
  • Base Year – 2017
  • Estimated Year – 2018
  • Projected Year – 2025

TARGET AUDIENCE

  • Traders, Distributors, and Suppliers
  • Manufacturers
  • Government and Regional Agencies and Research Organizations
  • Consultants
  • Distributors

SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

MARKET, BY PRODUCTS

  • Readers
  • Tags
  • Middleware

MARKET, BY APPLICATION

  • Hospital Equipment Tracking
  • Blood Transfer Monitoring
  • Pharmacy – Patient Medication Tracking
  • Patient Identification
  • Localization

MARKET, BY REGION

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Rest of APAC
  • Rest of the World
    • Middle East and Africa
    • Latin America

TABLE OF CONTENT

1. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY MARKET OVERVIEW
1.1. Study Scope
1.2. Assumption and Methodology
2. EXECUTIVE SUMMARY
2.1. Key Market Facts
2.2. Geographical Scenario
2.3. Companies in the Market
3. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY INDUSTRY STUDY
4.1. Porter’s Analysis
4.2. Market Attractiveness Analysis
4.3. Regulatory Framework Analysis
5. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY MARKET LANDSCAPE
5.1. Market Share Analysis
6. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY MARKET – BY PRODUCTS:
6.1. Overview
6.2. Readers
6.2.1. Overview
6.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
6.3. Tags
6.3.1. Overview
6.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
6.4. Middleware
6.4.1. Overview
6.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
7. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY MARKET – BY APPLICATION:
7.1. Overview
7.2. Hospital Equipment Tracking
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
7.3. Blood Transfer Monitoring
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
7.4. Pharmacy – Patient Medication Tracking
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
7.5. Patient Identification
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
7.6. Localization
7.6.1. Overview
7.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8. RFID (RADIO FREQUENCY IDENTIFICATION) TECHNOLOGY MARKET– BY GEOGRAPHY
8.1. Introduction
8.2. North America
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.2.3. U.S.
8.2.3.1. Overview
8.2.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.2.4. Canada
8.2.4.1. Overview
8.2.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.3. Europe
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.3.3. France
8.3.3.1. Overview
8.3.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.3.4. Germany
8.3.4.1. Overview
8.3.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.3.5. Rest of Europe
8.3.5.1. Overview
8.3.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.4. Asia Pacific (APAC)
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.4.3. China
8.4.3.1. Overview
8.4.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.4.4. India
8.4.4.1. Overview
8.4.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.4.5. Rest of APAC
8.4.5.1. Overview
8.4.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.5. Rest of the World
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.5.3. Latin America
8.5.3.1. Overview
8.5.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
8.5.4. Middle East and Africa
8.5.4.1. Overview
8.5.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
9. KEY VENDOR ANALYSIS
9.1. Atmel
9.1.1. Company Overview
9.1.2. SWOT Analysis
9.1.3. Key Developments
9.2. Accenture
9.2.1. Company Overview
9.2.2. SWOT Analysis
9.2.3. Key Developments
9.3. HITACHI
9.3.1. Company Overview
9.3.2. SWOT Analysis
9.3.3. Key Developments
9.4. 3M
9.4.1. Company Overview
9.4.2. SWOT Analysis
9.4.3. Key Developments
9.5. IBM
9.5.1. Company Overview
9.5.2. SWOT Analysis
9.5.3. Key Developments
9.6. Siemens
9.6.1. Company Overview
9.6.2. SWOT Analysis
9.6.3. Key Developments
9.7. AAID Security Solutions
9.7.1. Company Overview
9.7.2. SWOT Analysis
9.7.3. Key Developments
*Client can request additional company profiling as per specific requirements
10. 360 DEGREE ANALYSTVIEW
11. APPENDIX
11.1. Research Methodology
11.2. Abbreviations
11.3. Disclaimer
11.4. Contact Us

List of Tables
Table 1 List of Acronyms
Table 2 Key Market Facts, 2014 – 2025
Table 3 Market Drivers: Impact Analysis
Table 4 Market Restraint: Impact Analysis
Table 5 Market Opportunity: Impact Analysis
Table 6 PEST Analysis
Table 7 Porter’s Five Forces Analysis
Table 8 Company Market Share Analysis
Table 9 Global RFID (Radio Frequency Identification) Technology Market Analysis, Forecast, and Y-O-Y Growth Rate, 2014 – 2025, (US$ Billion)
Table 10 RFID (Radio Frequency Identification) Technology Market, by Products, 2014 – 2025 (USD Billion)
Table 11 RFID (Radio Frequency Identification) Technology Market, by Application, 2014 – 2025 (USD Billion)
Table 12 RFID (Radio Frequency Identification) Technology Market, by Geography, 2014 – 2025 (USD Billion)
Table 13 North America RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 14 U.S. RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 15 Canada RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 16 Europe RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 17 France RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 18 Germany RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 19 Asia Pacific RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 20 China RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 21 India RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 22 Latin America RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)
Table 23 MEA RFID (Radio Frequency Identification) Technology Market, 2014 – 2025 (USD Billion)

List of Figures
Figure 1 Research Methodology
Figure 2 Research Process Flow Chart
Figure 3 Comparative Analysis, by Geography, 2016-2025 (Value %)
Figure 4 Regulatory Framework Analysis
Figure 5 RFID (Radio Frequency Identification) Technology Market, by Products, 2014 – 2025 (USD Billion)
Figure 6 RFID (Radio Frequency Identification) Technology Market, by Application, 2014 – 2025 (USD Billion)
Figure 7 RFID (Radio Frequency Identification) Technology Market, by Geography, 2014 – 2025 (USD Billion)

SCOPE AND OBJECTIVES
The objective of this report is to describe the market trends and revenue forecasts for the market for the upcoming years. The report focuses on defining and describing the key influencing factors for the growth of the market. It also offers an in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key market players, and premium industry trends.
The report tracks the major market events including product launches, technological developments, mergers & acquisitions, and the innovative business strategies opted by key market players. Along with strategically analysing the key micro markets, the report also focuses on industry-specific drivers, restraints, opportunities and challenges in the market. The scope of this report covers the market by its major segments.

KEY BENEFITS OF THE REPORT
• The report presents macro and micro-level outlook regarding the industry. Thus, it becomes easy for our clients to perceive the business landscape and take a glimpse of their own standing in it.
• Thorough analysis of relevant statistical data to estimate the market paradigms
• Exceptional understanding of region and country specific markets. The report will answer some of the toughest questions regarding the market shares, sizes, forecasts, and growth specific to the countries.
• Well-designed strategic framework analyzes the market movements including regional expansion, mergers & acquisitions, and new product developments

RESEARCH METHODOLOGY

Research methodology is developed on a combination of specialist industry analyst knowledge and in-country research experience. We employ data interrogation methodologies to generate new and meaningful analyses and insights. The research study includes extensive use of secondary sources, paid databases (such as Bloomberg, Dun & Bradstreet, and BusinessWeek) and directories, to identify and collect information, useful to understand technical, commercial and market-oriented aspects. Market data and information are also collected (but not limited to) from the secondary sources such as:

  • Official company’s website, financial and annual reporting
  • Government statistical data
  • Online publishing articles
  • Industry player’s investor presentations
  • Economic news articles
  • National and international trade associations
  • The financial, business, and mainstream press
  • Industry study groups and semiofficial sources
  • Informative channels related to the market topics

* Gathering data through secondary sources is only the first step. The ability to cross-refer market data through available secondary            information often conflicting across multiple sources is a key aspect of the added value we provide

In order to verify and validate secondary market data, we engage with the Key Opinion Leaders (KoL’s), operating in the respective markets, through phone calls, emails, and web-based survey responses. This platform help us validate our data in terms of accuracy and gain insight into the current market and future expectations. Furthermore, the obtained information guide us to understand several facets of the market with respect to manufacturers and buyers’ perspectives.

In addition, to assign weights to all the relevant market dynamics and parameters and quantify their market impact for generating projected market growth rate, we used advanced machine learning algorithms in order to collate essential market data. The machine learning method utilizes algorithms such as regression, correlation, and decision tree, among others, to derive the desired output. This tool help us in deriving highly detailed forecasts, profound knowledge of product demand, and others.

These collected data points are carefully filtered, analyzed, compared, and presented in an easy way to develop accurate research study. Furthermore, all collected data is subjected to undergo exhaustive review process at country level, regional level, and global level.

Market Forecast :

Market forecast is primarily based on the year-on-year (YOY) growth rate. Data projection and future performance of each segment is analyzed based on the key aspects extracted from primary and secondary research results. Thus, data projection exhibits the assumption on how the market performs under microeconomic and macroeconomic parameters. Our market forecasting technique represents strategic conclusions which can play a crucial role for our client’s in making strategic marketing plans.

For forecasting, the following parameters were considered:

  • Market drivers and restraints along with their current and expected impacts
  • Technological scenario and expected developments
  • Trends in the consumer behaviors
  • End-user industry trends

We have assigned weights to above-mentioned parameters and quantified their market impacts using the weighted average analysis, to derive an expected market growth rate.

Market Analysis

Another integral part of our research study is that market data is accompanied by clear written analysis. We include detailed information on market segments in terms of market drivers, market restraints, and market opportunities. These offer insights on different channel dynamics, brand preference, incidence/prevalence data, consumption trend, and technology up-gradations.

We also include supporting data from relevant awareness campaigns, new introductions, regulatory norms, government initiatives, and an industry player’s expansion in specific product segments. From research perspective, this information explains and substantiates estimated data finding and forecast.

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