RFID Technology Market Worth $40.5 Billion By 2025

Jim Donaldson

Jim is the Sr. Director of Corporate Communications at Mojix, Inc., a global leader in item-level intelligence solutions for Manufacturing, Supply Chain and Retail. Jim has more than 30 year's experience working for both start-up and public technology companies.

May 24, 2017

In a recent report published by Grand View Research, Inc., the global RFID technology market is estimated to reach USD 40.5 billion by 2025. According to the report, the industry is expected to witness a steady growth owing to the increasing demand from the retail sector and the healthcare industry.

An important aspect of the RFID technology market is the varying nature of manufacturing and evidently the related costs. The past decade has seen a considerable reduction in the production costs with the advent of many new technologies such as printing and ink-jet. As the vendors benefit from these trends in the market, the increasing penetration of cost-to-volume benefits is expected to perpetuate to the end users.

RFID devices are anticipated to witness a surge in demand as the technological proliferation has led to an extensive use of smart cards, access control, and other NFC applications. In addition, the use of Ubiquitous Sensor Networks (USNs) and many short-range wireless communications, such as WiFi and Zigbee, is expected to help in the RFID market growth. To sum up the trends in the market, the RFID industry is anticipated to witness a healthy growth in the coming years with technology, cost, and size fueling its rapid deployment.

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