The data analysts of Market Research Future Reports have revealed that the global data centre RFID market 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 share 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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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.
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).
A comprehensive analysis of the global data centre RFID market has been performed for Europe, North America, Asia-Pacific, and the Rest of the World (RoW). The market is estimated to grow at a significant rate during the review period from 2019 to 2024. As per the analysis, the global data centre RFID market is projected to be dominated by North America. It is likely to acquire the largest market share during the assessment period. Also, the data centres were adopted at an early stage which is another crucial factor driving the regional market. Besides, the growing volume of data generation from several sectors in the region is another significant cause of market expansion. On the other hand, the APAC region is estimated to be the fastest-growing market during the review period. The digitalization of the region is the most significant factor resulting in market expansion. Besides, the region is adopting the technology at a faster pace which is additionally fueling the market. Moreover, the number of data centres is estimated to augment considerably. Hence, RFIDs will become a necessity to carry out efficient management. Also, the growing number of social media platforms and users in various sectors, particularly in BFSI, is likely to grow the market significantly.
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