Wide Area RFID Systems Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

Wide area RFID systems are essentially traditional RFID systems that can identify and locate numerous objects over a long range. The traditional deployment of RFID systems used to restrict usability as the objects were identified and accounted for only at certain checkpoints and entrances. In case, if a detailed inventory check is required, operators would have to manually scan individual objects or products which requires an immense amount of time and labor. Wide-area RFID systems have offered a viable solution to various industries to identify and locate numerous objects simultaneously all across the facility. The wide-area RFID systems make use of long-range RFID readers that can locate RFID tags over a distance of 100ft. In addition, these systems make use of additional cheaper antennas which can extend the reach of RFID readers deployed within the facility.

The overall wide area RFID system comprises numerous components such as RFID tags, readers, antennas, and software module in order to collect, manage and analyze the data collected. The RFID tag containing inlays can be attached to various products or components which need to be identified for inventory management. Long range RFID readers are deployed across the facility to ensure optimum coverage and identification of entire inventory. On account of high cost of RFID readers, end-users deploy numerous cheaper antennas which send signals from tags and readers back and forth. Thereby, the use of antennas makes deployment of wide-area RFID systems economically viable and effective.

The report titled Global Wide Area RFID Systems Market- Growth, Future Prospects and Competitive Analysis, 2022 - 2030 offers strategic insights into the global wide area RFID systems market along with the market size and estimates for the duration 2020 to 2030. The said research study covers in-depth analysis of multiple market segments based on components, end-use industry, and cross-sectional study across different geographies and sub-geographies. The study covers the comparative analysis of different segments for the years 2021 & 2030. The report also provides a prolific view on market dynamics such as market drivers, restraints, and opportunities. In addition, the report covers a section providing the anatomy and pricing of various components in the overall wide area RFID system.

In order to help strategic decision-makers, the report also includes competitive profiling of the leading providers of wide-area RFID systems, market positioning, and key developments. Some of the major players profiled in the report are Mojix, Inc., Impinj, Inc., Guard RFID Solutions, Inc., Balluff GmbH, PervasID Ltd., Shenzhen Jietong Technology Co., Ltd., Trackware B.V., Shenzhen Marktrace Co., Ltd., Idesco Oy, Balogh Group, GAO RFID, Inc. and Pepperl+Fuchs Vertrieb Deutschland GmbH.

Other in-depth analysis provided in the report includes:

• Current and future market trends to justify the forthcoming attractive markets within the wide area RFID solutions industry
• Market fuelers, market impediments, and their impact on the market growth
• In-depth competitive environment analysis
• Trailing 2-Year market size data (2020 - 2021)

Overall, the research study provides a holistic view of the global wide area RFID systems market, offering market size and estimates for the period from 2022 to 2030, keeping in mind the above-mentioned factors.

On the basis of end-use industry, the global wide area RFID systems market was led by the automotive industry in terms of revenue. Automotive manufacturing involves conveyance of numerous auto components and parts along complicated assembly lines. In addition, automotive manufacturing plants are spread across large physical areas making manual RFID reading cumbersome and tedious. The use of wide area RFID systems enables automobile manufacturers to effectively identify and locate numerous components simultaneously during assembly. Thereby, the automotive sector has experienced higher adoption of wide area RFID systems so far.

Retail industry is another major end-user of the wide area RFID systems for applications such as inventory management, store management and product identification. Some of the leading companies operating in the fashion and fast moving consumer goods sector have adopted long range RFID systems in order to constantly review store inventory and gain real time insights regarding product sales. With increasing applications, the adoption of wide area RFID systems in the retail industry is expected to rise in the following years.

In 2021, North America held the largest share in the overall wide area RFID systems market accounting for over one third of the global market in terms of revenue. High level of IT sophistication and rising labor costs have compelled various industries to deploy advanced systems for asset tracking and inventory management. In addition, high concentration of numerous industries including automotive, pharmaceutical and oil and gas have resulted in the higher adoption of wide area RFID systems in the region.

Europe and Asia Pacific followed the North America region in the global wide area RFID systems market in terms of revenue in 2021. Factors such as stringent government regulations and norms towards workplace safety and efficiency have led to higher demand for wide area RFID systems in most of the European countries. With rising technological awareness and increasing investments towards manufacturing in China and India, the Asia Pacific wide area RFID systems market is expected to witness significant growth during the forecast period from 2022 to 2030.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Wide Area RFID Systems market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Wide Area RFID Systems market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Component

• Tags
• Readers
• Antennas
• Software

End-use

• Automotive
• Retail
• Oil and Gas
• Manufacturing
• Healthcare
• Others (Commercial, Events, Education, etc.)

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Wide Area RFID Systems market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Wide Area RFID Systems market?
• Which is the largest regional market for Wide Area RFID Systems market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Wide Area RFID Systems market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Wide Area RFID Systems market worldwide?

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