The need to reduce and eliminate clerical errors is a major reason motivating the development of the data center RFID market. Reports that judge the information and communication technology industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. The market is expected to attain a revenue level worth USD 5.53 billion whilst registering a CAGR of 36.3 % by 2024.
The increasing volume of information and data from the Internet, mobile devices, and IoT devices augments the prerequisite of data centers and storage systems. The upsurge in demand for data centers around the world is anticipated to heighten the expansion of the data center RFID market in the upcoming years.
The segment-based evaluation of the data center RFID market is carried out on the basis of data center type, solutions, services, vertical, and region. On the basis of data center types, the data center RFID market has been segmented into mid-sized data centers, enterprise data centers, and large data centers. Based on the solutions, the data center RFID market has been segmented into antennas, tags, readers, software, and others. On the basis of services, the data center RFID market has been segmented into integration services and professional services. Based on the verticals, the data center RFID market has been segmented into government & defense, BFSI, IT & telecom, retail, healthcare, and others. Based on the region, the data center RFID market has been segmented into North America, Europe, APAC, and the other countries in the world.
The regional evaluation of the global data center RFID market is offered in this MRFR report on both regional and a country-level basis. The major regional segments of the market are Europe, North America, Asia Pacific (APAC), and the Rest of the World (RoW). North America is a prime region of the data center RFID market and held the maximum market share in 2018. The presence of key players such as EMC Corporation, Cisco System, Inc., Hewlett-Packard Inc., CyrusOne, etc. in the region is anticipated to influence the growth trajectory of the data center RFID market in the region positively over the next few years. The early and large-scale adoption of data centers in the region has encouraged the expansion of the regional market and is set to exhibit a similar trend in the forthcoming years. Also, the generation of massive amounts of data through social media platforms, various industries, etc. is likely to fuel demand for data center RFIDs in the region over the next couple of years.
Asia Pacific is the fastest growing regional segment of the data center RFID market in the foreseeable future. Rapidly growing demand for digitization is likely to benefit the growth of the regional market in the upcoming years. Large volumes of data generated in different industry verticals, especially in BFSI, is expected to propel the expansion of the market in the region across the projection period.
HP Inc. (US), Avery Dennison Corporation (US), IBM Corporation (US), GAO RFID Inc. (Canada), RF Code Inc. (US), Impinj, Inc. (US), Omni-ID, Ltd. (US), Alien Technology Corporation (US), Zebra Technologies Corporation (US), and Invengo Information Technology Co. (China), Ltd. are some of the major players participating in the global data center RFID market and expected to contribute substantially to market growth in the forthcoming years. These players are investing in research & development for the development of innovative technologies. This, in turn, is projected to catalyze the competition in the market over the next couple of years.
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