Radio Frequency Identification (RFID) Smart Label Market Is Predicted To Grow Rapidly

Radio Frequency Identification (RFID) Smart Label Market

Definition

Radio frequency identification refers to the process of electromagnetic fields to transfer electronically stored data which helps in identifying and tracking tags attached to objects. Special tags are fixed to merchandise or books which store the labels ID and other information. RFID smart labels allow retaining bar code/shipping label information with the help of passive RFID technology.

Drivers & Restraints

The global market is anticipated to rise at a considerable rate during the forecast period. In the recent years, the market was growing at a steady rate and with the rising adoption of strategies by key players; the market is expected to rise over the projected horizon. Rising application of RFID sensing labels in various segments such as pharmaceutical, healthcare, and food & beverage industries is the key factor driving the growth of the market.

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Segments-

Product Type-

Ultra-High Frequency

High Frequency

Low Frequency

 

Application-

Electronics & IT Asset

Pallets

Equipment

Retail Inventory

Documents

Parcel & Luggage

Perishable Goods

 

Regional Analysis

The market has been segment into North America, South America, Europe, Asia-Pacific, and Middle East and Africa. Extensive support by governments across APAC countries and the convergence of various technologies will provide growth momentum to the market.

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Companies-

Avery Dennison Corporation

Checkpoint Systems, Inc.

CCL Industries, Inc.

Smartrac N.V.

SATO Holdings Corporation