Data Center RFID Market Registering a Strong Growth by 2027

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Market Synopsis  

The data analysts of Market Research Future Reports have revealed that the global data center RFID market size is projected to value USD 5.53 billion, recording a CAGR of 36.3% during the forecast period from 2019 to 2024. The growing usage of RFID tags in supply chain management and in the healthcare sector is anticipated to propel the global data centre RFID market 2020.  There has been a growth in the amount of data and information due to the increasing usage of mobile devices, IoT devices, and the internet. RFID lessens the errors during the operations processes, which is why it is preferred. The growing demand for data centres is the most significant factor resulting in the expansion of the market. Moreover, data centre RFID is used that lessens the downtime by locating the damaged system or part in the data centre. 

However, the expansion of the data RFID market is estimated to be affected significantly due to the outbreak of COVID-19. The daily operations in various regions were put to a halt which immensely affected the manufacturing cycle of the product.

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Market Segmentation

The global data centre RFID market can be segregated on the grounds of solutions, vertical, services, data centre type, and region.

  • On the basis of solutions, the global data centre RFID market can be classified into software, tags, readers, antennas, and others.
  • On the basis of vertical, the global data centre RFID market can be classified into government & defence, BFSI, IT & telecom, retail, healthcare, and others.
  • On the basis of services, the global data centre RFID market can be classified into integration services and professional services.
  • On the basis of data centre type, the global data centre RFID market can be classified into enterprise mid-sized data centre, data centre, and large data centre.
  • On the basis of region, the global data centre RFID market can be classified into Europe, North America, Asia-Pacific, and the Rest of the World (RoW).

Regional Analysis 

A comprehensive analysis of the worldwide data center RFID market has been performed for Europe, North America, Asia-Pacific, and the Rest of the World (RoW). The market is assessed to develop at a critical rate during the survey time frame from 2019 to 2024. According to the examination, the worldwide data center RFID market is projected to be overwhelmed by North America. It is probably going to gain the biggest market share during the evaluation time frame. Likewise, the data centers were embraced at a beginning phase which is another urgent variable driving the provincial market. Furthermore, the developing volume of data age from a few areas in the locale is one more critical reason for market extension. Then again, the APAC area is assessed to be the quickest developing market during the survey time frame. The digitalization of the district is the main variable bringing about market extension. Moreover, the locale is taking on the innovation at a quicker pace which is also energizing the market. Additionally, the quantity of data centers is assessed to expand extensively. Henceforth, RFIDs will turn into a need to do proficient administration. Likewise, the developing number of web-based entertainment stages and clients in different areas, especially in BFSI, is probably going to develop the market fundamentally.

Key Players 

The notable players of the global data centre Invengo Information Technology Co. (China), RFID market are IBM Corporation (US), HP Inc. (US), Avery Dennison Corporation (US), Impinj, Inc.(US), GAO RFID Inc. (Canada), RF Code Inc. (US), Zebra Technologies Corporation (US), Omni-ID, Ltd.(US), Alien Technology Corporation(US), Ltd. and a few others. 

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