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The market value for Battery-Free RFID Sensor Market was USD 1.45 billion in 2022 and is expected to reach USD 3.39 Billion in 2032 growing at a CAGR of 14.5%

NEW YORK CITY, NY, UNITED STATES, May 25, 2023 /EINPresswire.com/ -- The Battery-Free RFID Sensor Market has been experiencing significant growth driven by various factors. The market value was USD 1.45 billion in 2022 and is expected to reach USD 3.39 billion by 2032, with a compound annual growth rate (CAGR) of 14.5% during the forecast period.

One of the key drivers of this growth is the increasing use of IoT devices and advancements in sensor technology. As industries such as healthcare, logistics and transportation, and retail adopt more IoT devices, the demand for battery-free RFID sensors has been on the rise. These sensors offer the advantage of not requiring batteries, resulting in cost savings and reduced environmental impact.

In the healthcare sector, battery-free RFID sensors with temperature monitoring capabilities are being used to ensure the safe handling and storage of vaccines and pharmaceuticals. The real-time tracking and monitoring capabilities of these sensors without the need for battery replacement have further increased their demand in healthcare institutions, especially during the pandemic.

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Additionally, government programs supporting the use of battery-free RFID sensors in various industries, such as healthcare and transportation, have contributed to market growth. For example, the European Union's "Green Deal" program aims to make Europe climate neutral by 2050 and promotes the use of RFID sensors without batteries in logistics and transportation to reduce carbon emissions.

Although the COVID-19 outbreak has impacted the production and distribution of battery-free RFID sensors and global supply networks, the market has continued to grow due to strong demand, particularly in the healthcare industry.

Overall, the battery-free RFID sensor market is expanding due to the increasing demand for energy-efficient and cost-effective solutions across multiple industries, along with technological advancements and government support.

Strategic Development:

In 2021, Avery Dennison Corporation introduced its battery-free RFID sensor technology called AD-610u8. This technology enables real-time tracking of inventory and monitoring of temperature, humidity, and pressure levels in industries like healthcare, logistics, and retail.

General Electric Company announced the development of Smart Signal, a battery-free RFID sensor technology in 2020. It allows for real-time monitoring of industrial equipment's condition, collecting data on parameters like temperature and pressure to improve reliability and reduce downtime.

Phase IV Engineering Inc. launched the Xerxes battery-free RFID sensor tag in 2020. The customizable Xerxes tag tracks and monitors the health and status of industrial equipment, finding applications in manufacturing, logistics, and supply chain management.

Sensormatic Solutions, a subsidiary of Johnson Controls, introduced the Sensormatic Synergy Series battery-free RFID sensor tag in 2019. This technology offers retailers real-time visibility of inventory levels, assisting in reducing inventory shrinkage and improving store operations.

Tata Communications unveiled its battery-free RFID sensor technology in 2018. This customizable technology tracks and monitors temperature and humidity levels during the transit of goods, finding applications in industries such as healthcare, pharmaceuticals, and food and beverage.

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Additionally, several new product launches have occurred in the battery-free RFID sensor market:

In 2021, Avery Dennison Corporation launched the AD-710r6 battery-free RFID sensor tags for tracking and monitoring industrial assets under harsh environments and extreme temperatures.
General Electric Company introduced the Smart Signal Gen 2 battery-free RFID sensor tag in 2020, providing real-time monitoring and analytics of industrial equipment for improved reliability and reduced maintenance costs.
Phase IV Engineering Inc. launched the Magnus Series battery-free RFID sensor tags in 2019, designed for applications in logistics, supply chain management, and asset tracking.
Tageos released the EOS-400 battery-free RFID sensor tags in 2018, specifically catering to the retail industry for inventory tracking and store operation enhancement. These tags are highly durable and can withstand harsh environments and extreme temperatures.
Competitive Landscape:
The global battery-free RFID sensor market is characterized by intense competition, with several major companies driving significant market revenue. These key players are employing diverse strategies such as mergers and acquisitions, strategic agreements and contracts, and continuous product development to strengthen their market position. Among the major companies operating in the global battery-free RFID sensor market are:

Avery Dennison Corporation: Avery Dennison Corporation is a prominent player that has introduced innovative battery-free RFID sensor technologies like AD-610u8 and AD-710r6. Their solutions cater to various industries, including healthcare, logistics, and retail, enabling real-time tracking and monitoring of inventory and environmental conditions.

General Electric Company: General Electric Company has developed the Smart Signal battery-free RFID sensor technology, facilitating real-time monitoring and analytics of industrial equipment. Their solutions help improve equipment reliability and reduce maintenance costs, attracting industries reliant on industrial machinery.

Phase IV Engineering Inc.: Phase IV Engineering Inc. offers the Xerxes and Magnus Series battery-free RFID sensor tags. These customizable tags are widely used in manufacturing, logistics, and supply chain management, allowing for the monitoring of equipment health and status.

Sensormatic Solutions: As a subsidiary of Johnson Controls, Sensormatic Solutions introduced the Sensormatic Synergy Series battery-free RFID sensor tags. Their solutions provide real-time inventory visibility to retailers, aiding in reducing inventory shrinkage and optimizing store operations.

Tageos: Tageos is known for its EOS-400 battery-free RFID sensor tags, catering specifically to the retail industry. These durable tags facilitate inventory tracking and help improve store operations.

Tata Communications: Tata Communications offers battery-free RFID sensor technology that enables real-time monitoring of temperature and humidity levels during the transit of goods. Their solutions find applications in industries such as healthcare, pharmaceuticals, and food and beverage.

Vubiq Networks, Inc., WaveMark, Inc., and Wipro Limited are also notable companies operating in the battery-free RFID sensor market, contributing to its growth through their innovative offerings and strategic initiatives.

These major companies play a crucial role in shaping the battery-free RFID sensor market by delivering advanced solutions across diverse industries and driving technological advancements.

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