Dublin, Aug. 22, 2023 (GLOBE NEWSWIRE) -- The "Data Center RFID Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The global Data Center RFID market is expected to witness substantial growth with a projected Compound Annual Growth Rate (CAGR) of 12.6% over the next five years. Several factors contribute to this growth, including the increasing demand for data centers globally and the need for real-time asset information to mitigate risks and enhance operational efficiency.
Key Highlights:
- Growing Need for Data Centers: The expansion of the internet, mobile devices, and the Internet of Things (IoT) has led to a massive generation of data, driving the demand for data center facilities. Radio Frequency Identification (RFID) technology is instrumental in asset management within data centers, leading to increased productivity and cost savings.
- Asset Management and Risk Mitigation: Data center managers are under continuous pressure to enhance asset security while optimizing resource utilization. The use of RFID technology allows for the identification of critical assets such as servers and IT equipment, reducing the risk of data loss or operational disruptions.
- Cost Considerations: The upfront cost of deploying an active RFID system may be higher compared to passive RFID solutions. However, over time, the cost differential tends to diminish, making active RFID systems more cost-effective. Passive RFID systems, while initially requiring less investment, often incur labor costs for manual data collection.
- Transport and Logistics Sector: RFID technology finds significant use in the transportation and logistics industry. It enables real-time tracking of vehicles and assets, leading to improved operational efficiency, reduced costs, and enhanced productivity. RFID integration with Warehouse Management Systems (WMS) enhances product tracking and accuracy.
- Retail Industry Transformation: The COVID-19 pandemic has accelerated the adoption of RFID in the retail sector, supporting omnichannel retail strategies. RFID helps retailers maintain inventory visibility across multiple locations and adapt to changing consumer demands efficiently.
Data Center RFID Market Trends:
- Transport and Logistics Industry: RFID technology aids the transportation and logistics industry in optimizing operations, ensuring asset location tracking, and enhancing efficiency. Vehicle tracking, route planning, and maintenance monitoring are some of the benefits offered by RFID systems in this sector.
- North American Dominance: North America holds a significant share in the Data Center RFID market, driven by factors like digitalization, high adoption rates of IT services, and advanced network coverage. Key players in this region include IBM Corporation, Zebra Technologies, and Hewlett-Packard.
- Advancements and Collaborations: Key players in the market, such as RF Code and Hewlett Packard Enterprise, are actively developing and advancing RFID technologies. Collaborations and advancements in the field contribute to market growth.
The report emphasizes the pivotal role of RFID technology in data center management, logistics, and retail sectors. It also highlights the dominance of North America in the market and the competitive landscape shaped by key players' initiatives and advancements. The growth of the data center RFID market is underscored by the increasing reliance on data centers, the demand for real-time asset tracking, and the potential for operational efficiency improvements.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness-Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Impact of COVID-19 on the Data Center RFID Market Industry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Demand for RFID Software Services in Transport and Logistics Sector
5.1.2 Growing Telecom and IT Infrastructure Across the Globe
5.2 Market Restraints
5.2.1 Rising Technical and Manpower Cost
6 MARKET SEGMENTATION
6.1 By Vertical
6.1.1 Telecom and IT
6.1.2 Government and Public
6.1.3 Transport and Logistics
6.1.4 Retail
6.1.5 Media and Entertainment
6.1.6 Other Verticals
6.2 By Geography
6.2.1 North America
6.2.2 Europe
6.2.3 Asia Pacific
6.2.4 Latin America
6.2.5 Middle East and Africa
7 COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 IBM Corporation
7.1.2 ZEBRA Technologies
7.1.3 Hewlett Packard Enterprise
7.1.4 GAO RFID
7.1.5 RF Code
7.1.6 Alien Technology Corporation
7.1.7 Avery Dennison
7.1.8 Omni-ID, Ltd.
7.1.9 Casia Apps
7.1.10 Impinj, Inc.
8 INVESTMENT ANALYSIS
9 FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/ncreda
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Attachments
- Data Center Rfid Market Value Of Tolls Collected On National Highways Across India From Financial Year 2017 To 2021
- Data Center Rfid Market Data Center R F I D Market Growth Rate By Regions
