Published on : Sep 30, 2016
ALBANY, New York, September 30, 2016: Advancements in cloud-based systems have benefited many industries so far. The smart antenna market is one of the markets, which has benefited the most due to the advent of cloud-based systems. RFID system, a wireless technology primarily utilizes radio waves to receive information from a tag that is attached to a particular object. RFID is used for numerous purposes such as automatic identification and object tracking. RFID comprises components such as a tag, antenna, communication infrastructure, reader, and host. High reliability and accuracy will boost the demand for RFID smart antenna, finds ResearchMoz.us in the new report added to its wide repository of research reports.
The report, titled “Global RFID Smart Antenna Market 2016-2020,” states that the global market is expected to witness a growth of 12.94% CAGR during the period between 2016 and 2024. The rising application of RFID can be credited to be one of the primary factors boosting the global RFID smart antenna market. Key companies operating in this market are focusing on introducing new RFID smart antenna products to maintain their dominance.
Alien Technology, Honeywell, Impinj, Zebra Technologies, Abracon, CAEN RFID, FEIG Electronics, Harting, Invengo, Kathrein RFID, MTI Wireless Edge, RFMAX, RF Solutions, Skyetek, Taoglas, and ThingMagic are some of the key companies listed in the report on the global RFID smart antenna market. At present, the global market for RFID smart antenna is highly competitive in nature owing to the entry of new companies. However, leading organizations aim to maintain their global dominance by acquiring a few startup companies in the near future.
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For a detailed competitive analysis, the global RFID smart antenna market is divided into the Americas, EMEA, and APAC. Although the market is enjoying a global demand for RFID smart antenna, it is expected to be challenged by a few factors. Signal collision is considered to be the most vital factor challenging the global RFID smart antenna market. However, key companies are targeting to adopt new cloud-based solutions to fight the challenges.
As per the findings of the report, leading companies operating in the global RFID smart antenna market will benefit from the rising omni-channel retailing. Critical price point of RFID implementation will also play a lead role in the development of this global market, state the analysts. The report also lists a few other factors which could challenge the growth of the market. According to the report findings, the global RFID smart antenna market will be challenged by the lack of standardization and security concerns. However, changing trends such as the integration of RFID technology in the Internet of Things landscape is expected to create new opportunities in the market. Additionally, the emergence of smart factories will make the global market for RFID smart antenna more promising.
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