RFID Sensor Market

RFID sensor market is expected to expand at a CAGR of 8% from 2021 to 2031

ALBANY, NEW YORK, UNITED STATES, September 28, 2021 /EINPresswire.com/ -- The global RFID sensor market is expected to experience increased demand opportunities in the forthcoming years. This growth can be ascribed to the growing application of RFID sensors across retail and healthcare sectors. The product is utilized for a wide range of purposes such as livestock tracking, access control, cashless payment, inventory management, and ticketing.

The global RFID sensor market is projected to cross the valuation of US$ 18.52 Bn by 2031, notes a new study published by the Transparency Market Research (TMR). This report offers a comprehensive analysis of the market for the forecast period of 2021-2031.

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RFID Sensor Market: Key Findings
• Use of RFID Tags Over GPS Tags for Performance Assessment of Athletes Drives Product Sales
RFID tags work as a helpful tool in accessing the performance of athletes. These tags are gaining traction owing to their ability to assist sports coaches in achieving high level of precision during performance assessment. The increasing shift toward using RFID sensors instead of GPS (global positioning systems) sensors in different sports training and performance activities may work as a key driver for the growth of the RFID sensor market in the upcoming years.

• Growing Product Use in Healthcare Industry Drives Sales Opportunities in Market

RFID sensors are gathering impetus across healthcare sector, owing to their diverse advantages. In recent times, the product is increasingly utilized for tracking COVID-19 patients during their segregation.

RFID tags work as a helpful tool to keep the track of different hospital assets. For instance, the product can be utilized in operation theaters, whereregular inspection of all assets is necessary in order to prevent unexpected breakdowns.

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RFID Sensor Market: Growth Boosters

• The global RFID sensor market is projected to gather prodigious sales opportunities on the back of rising need for keeping track of equipment and inventory across varied industry verticals such as logistic & supply chain, transportation, retail, manufacturing, aerospace & defense, agriculture, and healthcare industry

• RFID sensors assist in automating inventory process across retail sectors and warehouses, and thus, help in improving overall operations. The product can be utilized to make various operations simpler and faster. All these product advantages are resulting into its increased adoption, which is serving as a driver of the market.

• The popularity of RFID sensors is increasing due to the high level of security they provide and a broad range of applications they offer. Thus, increased adoption of this technology is likely to boost the product sales in the near future.

• North America is expected to remain dominant in the RFID sensor market. Some of the key factors attributed to this regional dominance include increased adoption of the RFID sensor technology across the supply chain and the logistics sector, existence of important players, and increased technological advancements in the region.

• Increased efforts of market players toward offering cost-effective and superior quality products are anticipated to boost the expansion of the RFID sensor market in the near future

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RFID Sensor Market: Key Players
The report profiles key players operating in the RFID Sensor market. Thus, the research document provides all important data including company overview, product portfolio, financial overview, recent developments, and business strategies of each player operating in the market.

The list of key players in the RFID sensor market includes following names:
• Applied Wireless Inc.
• Alien Technology
• CAEN RFID S.R.L.
• Avery Dennison Corporation
• Checkpoint Systems, Inc.
• Honeywell International Inc.
• Invengo Information Technology Co. Ltd
• Impinj, Inc.
• NXP Semiconductors
• Motorola Solutions, Inc.
• Savi Technology

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TMR
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