Radio frequency identification (RFID) is one of the fastest developing technology that provides wireless identification and tracking capability. The continuous improvement in network infrastructure has compelled retailers to use e-commerce and m-commerce to increase their reach and revolutionize their customer’s shopping experience.
Retailers consistently require real-time information about the products/goods inbound to customers. RFID antenna helps to increase inventory visibility and provides accurate information about the movement of goods through the supply chain. Furthermore, the rise in use of RFID antennas and systems by various companies to implement intelligent distributed order management systems and also facilitates accurate inventory tracking is one of the major factors which is fuelling the growth of the market.
RFID antennas form a particularly important element of any overall RFID system. RFID antennas integrated into RFID systems are selected on the basis of radiation resistance, resistive losses, bandwidth, and feed impedance. RFID antennas transmit and emit both electrical and magnetic properties and operate around a wide range of frequencies to contain the reliability of the information collected.
As a result, the reliability of RFID systems has increased over time, which, in turn, has resulted in an increase in demand for RFID systems.
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Global RFID Antenna Market: Drivers and Challenges
Drivers
The increase in Omni-channel retailing is the primary factor which is driving the growth of the RFID antenna market. Moreover, the rising need for efficient supply chain management is expected to support the growth of the RFID antenna market during the forecast period. Furthermore, in the healthcare sector, the focus on RFID technology for tracking and classification of medical instruments is rising, and this is expected to drive the demand for RFID antenna.
Also, the increasing number of supply chain and retail companies in various countries is leading to the increasing demand for RFID antennas. These RFID antennas are deployed by companies as a part of security technology to prevent the risk of theft and loss. Companies are increasingly adopting automated item identification systems for supply chain management for improving inventory allocation efficiencies. Thus, due to these factors, the RFID antenna market is growing at a rapid pace.
Challenges
The high cost of RFID systems as compared to barcode systems is primary factor which may hinder the growth of the RFID antenna market in the near future. Moreover, the lack of standardization is also one of the major factors which hampers the growth of RFID antenna in near future.
Apart from this, the lack of compatibility of RFID systems with existing technology is also restraining the growth of RFID antenna market. Also, RFID tags use the concept of radio frequency, which can be interfered with other ranges of this frequency of products, and can lead to inaccurate readings.
Global RFID Antenna Market: Competition Landscape
Key Players
The prominent players in RFID antenna market are: Zebra Technologies Corporation, Omni-ID, GAO RFID Inc., Impinj, Inc., Alien Technology, Confidex Ltd., Honeywell International, Inc., Invengo Information Technology Co., Ltd., NXP Semiconductors N.V., and HID Global Corporation.
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Global RFID Antenna Market: Regional Overview
On the geographic basis, North America is anticipated to capture largest market share, owing to the well-developed retail companies, and the presence of various RFID antenna manufacturers in the region. Europe and APAC are also expected to gain substantial market share as several enterprises in the regions are adopting RFID systems such as RFID antenna in integration with cloud-based technology for real-time monitoring and storing data of RFID tagged products. Also, Europe is expected to be the fastest growing RFID antenna market owing to the rising automation in healthcare system for facilitating accurate and reliable data.
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