RFID MARKET ANALYSIS

Market Challenges And Opportunities

Lack of awareness among the enterprises about the RFID technology is one of the major challenges for hampering the growth of the market.

Lack of awareness among the enterprises is one of the major challenges restraining growth of the market. Since, the benefit of RFID solutions are not known by the SMEs, it will negatively impact growth of the market. Moreover, implementation cost of the RFID is high, which in turn restrict the SMEs for adopting the RFID solutions in the Enterprises.

Cloud-based RFID tags provide growth opportunity to the market

Increasing adoption of cloud services and solutions by the organization is expected to provide a growth opportunity to the market. Enterprises are adopting cloud-based applications at a large scale, which in turn increase the cloud traffic. For instance, according to Coherent Market Insights’ analysis, global cloud IP traffic is expected to reach 14 ZB by the end of 2020, up from 4 ZB per in 2015. Moreover, adoption of cloud based RFID software will help enterprises to reduce the cost of infrastructure and minimize complexity in managing access controls and compliance for users by preventing data breach issues. Since, the organisation managing their work over the cloud will positively increases the demand of cloud based solutions. Hence, this factor will positively help increasing the demand of the cloud based RFID tags which in turn providing a growth opportunity to the market.