Dublin, March 20, 2024 (GLOBE NEWSWIRE) -- The "Global Data Center RFID Market Size, Share & Trends Analysis Report By Component (Hardware (Reader, Tags, Printer, Antenna, Others), Software, and Services), By Tag Frequency (UHF, HF, and LHF), By Application, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global landscape of the Data Center RFID Market has been meticulously analyzed in this report, which presents a thorough overview of market dynamics, segmentations, and competitive analysis for the forecast period from 2023 to 2030.
The market is projected to experience a robust growth rate of 23.8% CAGR, expanding from its current valuation to an anticipated $5.5 billion by the year 2030. This growth trajectory underscores the critical role of RFID technologies in revolutionizing asset management and operational efficiency within data centers globally.
Hardware components, particularly RFID readers, are highlighted in the study as key catalysts in the market's expansion. The fixed RFID reader segment, for instance, commanded a significant market share in 2022, underscoring their importance in continuous and precise asset tracking across data center environments.
Breakthroughs in Asset Tracking and Regulatory Compliance Fueling Market Growth
The pervasive need for real-time asset tracking and stringent compliance adherence has stimulated the integration of RFID technology in data center operations. Effective asset management, safeguarded through RFID solutions, ensures optimized resource allocation and strengthens security measures - a pivotal consideration in today's digitally-intensive landscape.
Nevertheless, the report indicates that the complexities involved in deploying and scaling RFID technology pose as considerable challenges to market growth. Despite these hurdles, sectors such as asset tracking & management amassed the largest revenue share, propelled by an escalating demand for sophisticated asset management frameworks.
Regional Market Insights and Competitive Strategies
- Regionally, North America dominates the market sphere, with substantial investments in data center construction, cloud computing adoption, and the integration of data-driven technologies.
- The Asia Pacific region is also scrutinized for its potential and current market penetration, focusing on major economies like China, Japan, and India.
- Market players are adopting strategic collaborations, mergers, and acquisitions to bolster their market presence and offer comprehensive RFID solutions. Recent strategic developments among the key players are meticulously documented in the report.
Companies Mentioned
- HID Global Corporation (Assa Abloy AB)
- Alien Technology, LLC
- Confidex Ltd.
- Honeywell International, Inc.
- Impinj, Inc.
- Mojix, Inc. (Peak Rock Capital)
- Nedap N.V.
- NXP Semiconductors N.V.
- Sato Holdings Corporation
- Zebra Technologies Corporation
For more information about this report visit https://www.researchandmarkets.com/r/9dub27
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