ResearchMoz.us has issued a report indicating that the battery free RFID sensor market is expected to reach $1,269.2 million by 2026, expanding at a CAGR of 12.1% from 2018 to 2026. According to the report, the battery free RFID sensor market will continue to be influenced by a range of macroeconomic and industry-specific factors. In summary, Asia Pacific will continue to be at the forefront of global demand, with the market in the region growing at 14.6% through 2026. In Asia Pacific, China, India, Japan, and South Korea are expected to be the major contributors to the growth of the battery free RFID sensor market over the forecast period.
- Growing demand for food quality monitoring is driving the global battery free RFID sensor market.
- Based on frequency, in terms of revenue, high frequency and NFC segment accounted for major market share of more than 50.0% in 2017 and is anticipated to expand at a CAGR of 13.5% during the forecast period.
- Battery free RFD sensor market has been segregated into food quality monitoring, supply chain management, condition monitoring, structural health monitoring, and others.
- The supply chain management segment held the highest market share in 2017, contributing the maximum revenue.
- North America accounted for maximum market share of more than 40% in terms of revenue and volume share.
- Asia Pacific battery free RFID sensor market is mainly driven by increased investments in modernizing infrastructure and urban population, especially in developing economies such as China, India, and Japan.
- Key players in the battery free RFID sensors market are ON Semiconductor, Microsemi Corporation, PHASE IV Engineering, Inc., Powercast Corporation, Inductosense Ltd., Axzon, Texas Instruments Incorporated, Infineon Technologies AG, Farsens S.L, and General Electric.
For more information, checkout the report.