Global RFID Tags Market for Livestock Management 2018-2022
About RFID Tags
RFID tags are identification systems that are attached to animals for disease control, breeding management, stock management, and others.
Technavio’s analysts forecast the global RFID tags market for livestock management to grow at a CAGR of 13.87% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global RFID tags market for livestock management for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of RFID tags.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global RFID Tags Market for Livestock Management 2018-2022
Technavio recognizes the following companies as the key players in the global RFID tags market for livestock management: Aleis, Allflex , HID Global, National Band & Tag Company, Omnia Tags, and SafeTag.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is advances in technology. The growing demand for technological solutions for tracking of objects by several industries has raised the demand for RFID tags. These RFID tags are in high demand due to their ease of automatic identification and capability to share data without any physical contact between reader and tags through radio waves. RFID has profound various applications in different industries such as agriculture, transportation, aerospace, information technology (IT), logistics, and others. However, the need for high setup cost such as IT infrastructure, which includes database, servers, and inter- or intra-networks, further adds to the cost of deployment of RFID devices. Moreover, the adaption rate of this RFID technology is low in developing countries owing to its high cost.”
According to the report, one of the major drivers for this market is Growing concerns related to animal health will boost the demand for RFID tags. The growing occurrences of animal diseases and health concerns are important drivers of the global RFID tags market for livestock management. These factors are expected to drive the market growth during the forecast period. The growing concerns and cases of the livestock getting affected by severe chronic diseases have driven the need for regular monitoring of livestock. Hence, these factors have fueled the revenue growth of the global RFID tags market for livestock management to a certain extent.
Further, the report states that one of the major factors hindering the growth of this market is Threat of disruption in RFID frequencies. RFID systems used for livestock management work in the electromagnetic spectrum and can be easily disrupted, similar to mobile phones network disruption. This disruption of RFID signals may lead to heavy losses of data, especially in livestock management, where these data are used to manage and maintain the information and operations of animals and their related production. The disruption of RFID signals of any active RFID tag may lead to wear out of battery in the system, leading to disruption of the entire system periodically.
Aleis, Allflex , HID Global, National Band & Tag Company, Omnia Tags, and SafeTag.