Global Radio Frequency Identification (RFID) IC Market To Reach USD 14.8 Billion By 2020

Date: 2016-11-09

Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects. The tags contain electronically stored information. Passive tags collect energy from a nearby RFID reader’s interrogating radio waves. Active tags have a local power source such as a battery and may operate at hundreds of meters from the RFID reader.

The Radio Frequency Identification (RFID) IC has a number of applications such as tags, readers, and software/services for RFID cards, labels, fobs, and all other form factors. The Global Radio Frequency Identification (RFID) IC Market value is expected to rise to US$14.8 billion by 2020, at a 6.9%CAGR between 2016-2020.

Geographically, the North America and Asia Pacific is similar in demand market, however, the Asia Pacific is expected to grow at highest CAGR 8.7% globally over the forecast period 2016-2020. 

The RFID tag can be affixed to an object and used to track and manage inventory, assets, people, etc. For example, it can be affixed to cars, computer equipment, books, mobile phones, etc.

RFID offers advantages over manual systems or use of bar codes. The tag can be read if passed near a reader, even if it is covered by the object or not visible. The tag can be read inside a case, carton, box or other container, and unlike barcodes, RFID tags can be read hundreds at a time. Bar codes can only be read one at a time using current devices.

Cost of Radio Frequency Identification (RFID) IC
In 2015, the cost of passive tags started at US$0.07 each; special tags, meant to be mounted on metal or withstand gamma sterilization, can go up to US$5. Active tags for tracking containers, medical assets, or monitoring environmental conditions in data centers start at US$50 and can go up over US$100 each. Battery-Assisted Passive (BAP) tags are in the US$3–10 range and also have sensor capability like temperature and humidity.

Radio Frequency Identification (RFID) IC market share by region as following:

radio-frequency-identification-rfid-ic

Read Full Report: http://www.gosreports.com/global-radio-frequency-identification-rfid-ic-industry-2016-market-research-report/

Joanna | Executive – International Business and partner Relations
E-mail: info@gosreports.com | Tel: 510-400-8520
Web: www.gosreports.com
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