Global Intelligent RFID Platform Market 2017-2021
About Intelligent RFID Platform
An intelligent RFID platform is basically a part of RFID middleware that enables the development and deployment of RFID systems. The intelligent RFID platform absorbs differences in different RFID tags from multiple suppliers. It then integrates the data to build scalable and flexible RFID solutions. The intelligent RFID platform has tools for monitoring and maintaining RFID systems. An RFID system is a wireless technology that uses radio waves for gathering data from a tag attached to an object. It is used for purposes such as tracking and automatic identification of objects.
Technavio’s analysts forecast the global intelligent RFID platform market to grow at a CAGR of 26.25% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global intelligent RFID platform market for 2017-2021. To calculate the market size, the report provides an exhaustive list of vendors that are active in producing intelligent RFID platform solutions.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Intelligent RFID Platform Market 2017-2021
Technavio recognizes the following companies as the key players in the global intelligent RFID platform market: Advantech, Impinj, Terso Solutions, and Tyro Retail Solutions.
Other Prominent Vendors in the market are: Alien Technology, Checkpoint Systems, Globe Ranger, InSync Software, RFID4U, Software AG, Tellago, and TIBCO Software.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is cloud-based RFID solutions. Technological advances have bolstered the integration of RFID technology in industries like transportation, aerospace, IT, and logistics. However, the adoption of intelligent RFID platform solutions is limited in small and medium-sized retail chains or stores. This is due to the technology's high IT infrastructure requirements for database, servers, and inter-/intra-network. These requirements also add to the high deployment and implementation costs. The cloud-based RFID solutions offered by different RFID solution providers, such as Terso Solutions, Tellago, and Nedap, have helped small and medium-sized retailers to avail RFID system benefits, as they eliminate the initial procurement cost of servers.”
According to the report, one driver in market is error reduction in data entry and increase in need for security. Data entry was initially a manual process. It was time consuming and had a high error rate. The introduction of RFID technology and barcode systems helps firms record and recognize data entries automatically and with more precision. It also corrects warehouse errors such as picking up a wrong quantity or item for a different order. In industries, such as manufacturing, logistics, and warehousing, keeping track of the inventory produced, stock in or stock out, or even keeping track of where the asset has moved in the department (during the production stage) is very important. A simple error in data entry can lead to a big loss. Time is also consumed in the rectification of the error. The implementation of RFID technology and barcode system in data management has eliminated such errors and improved the overall process. Information can be collected digitally in the form of a serial number, price, or count.
Further, the report states that one challenge in market is requirement for high initial investment. A major challenge in the global intelligent RFID platform market is the high initial investment required for the deployment of RFID devices. This prevents the adoption of RFIDs by SMEs. The advantages of RFID technology are known to all end-users. However, its high cost deters its market growth. Most UHF readers (includes integrated intelligent RFID platform solutions) cost between $500 and $2,000 (excludes the antenna charges). The HF and LF RFID readers cost between $100 and $750. The average selling price (ASP) of RFID devices will decline during the forecast period, with vendors achieving economies of scale and increasing competition. This will allow RFID devices to become more affordable to all the end-user segments. Vendors should aggressively market RFID devices and its benefits to end-users. This strategy will encourage vendors to bear the initial investment costs that are required for the deployment of RFID devices.
Advantech, Impinj, Terso Solutions, Tyro Retail Solutions, Alien Technology, Checkpoint Systems, Globe Ranger, InSync Software, RFID4U, Software AG, Tellago, TIBCO Software.