RFID Market to Show Double Digit Growth Owing to Increasing Adoption of IoT Radio Frequency Identification (RFID) is a form of wireless communication, which uses tags in order to track the details of the objects. RFID features to help in controlling the data loss and securing the data from unauthorised access will positively help in fuelling the growth of the market.
Increasing adoption of IOT in the various verticals such as manufacturing, healthcare, retailers and many others is one of the major factors driving growth of the market. Increasing adoption of advanced technologies such as sensor, smart devices, robots and many more in the various verticals has positively uplifting the adoption of IoT in the various verticals, which in turn is driving the growth of the market.
Increasing adoption of cloud services and solutions by the organization is expected to provide a growth opportunity to the market. North America accounted for the largest market share in global RFID market in 2017, owing to increasing number of cyber-threats across the various verticals such as healthcare, banking and financial, retail, manufacturing and many more, which is driving the growth of the market in these particular regions.
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