Allied Market Research’s report, “Global RFID Sensor Market by Product, Frequency Band, Type, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2024”, indicates that the global RFID sensors market was valued at $11.81 billion in 2017, and is projected to reach $26.67 billion by 2024, registering a CAGR of 12.2% from 2018 to 2024. At present, North America dominates the market, followed by Europe. In 2017, the U.S. is expected to remain dominant in the North America market, while the UK is projected to lead the overall market in Europe. Long distance tag readability fuels growth, however, high RFID cost and inability to read signals from multiple outputs hamper the market growth.
- By type, the passive segment was the highest revenue contributor in2017.
- Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period.
- In 2017, North America contributed the highest market share, followed by Europe, Asia Pacific, and LAMEA.
- Key players profiled in the report are Murata Manufacturing Co., Ltd, Vitaran Electronics, SMARTRAC, ELA Innovation, Balluff Inc., AB&R (American Barcode and RFID), VisuaScan Inc., Imprint Enterprises, Coridian Technologies, Inc., AbeTech Corporate, and Invengo Technology Pte. Ltd.
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