RFID MARKET ANALYSIS

Regional Analysis

Global Radio Frequency Identification (RFID) Market: Regional Insights

On the basis of regions, the global RFID market is segmented in to North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America held a dominant position in the global RFID market in 2017, and is expected to retain its dominance throughout the forecast period. North America accounted for the largest market share in global RFID market in 2017, owing to increasing number of cyber-threats across the various verticals such as healthcare, banking and financial, retail, manufacturing and many more, which is driving the growth of the market in this particular regions. For instance, according to the Internet Crime Complaint Center (IC3), in 2016, cybercrimes were valued at over US$ 1.33 billion worldwide, where California witnessed loss of over US$ 255 million. Moreover, in 2016, about 28% of web application attacks were recorded in the U.S., followed by the Netherlands and Germany. Therefore, organisation are implementing the RFID tags in the various department in order to increase security of the data from cyber-attacks, which in turn is expected to fuel growth of the market in this particular regions.