According to a new market research report from Technavio, the global RFID middleware market 2019-2023 is expected to post a CAGR of more than 11% during the period 2019-2023. RFID middleware is used in smart factories for various applications, such as fleet tracking, inventory and asset management, and personal tracking. The growth of the global RFID middleware market size can be attributed to the growing number of RFID applications. The adoption of RFID technology is increasing as it provides several advantages, such as reduced production downtime, location tracking, and reduced labor costs for various applications, including inventory management and data management. This increases the demand for RFID middleware, which is used to collect the flow of data between RFID readers and RFID tags and provide data filtering, data aggregation, and device management to the RFID middleware administrator.
As per Technavio, growing investments in smart factories will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global RFID Middleware Market: Growing Investments in Smart Factories:
The global manufacturing landscape is witnessing increased interest in smart factories that are equipped with advanced technologies. The deployment of smart technologies in industries facilitates efficient monitoring of the manufacturing process from remote locations. Thus, the growing investments in smart factories will fuel the growth of the RFID middleware market during the forecast period.
Apart from the growing investments in smart factories, other factors such as the increase in adoption of data center asset management, and growing interest toward smart retail stores will boost the RFID middleware market growth during the forecast period.
Global RFID Middleware Market: Segmentation Analysis:
This market research report segments the global RFID middleware market by end-user (industrial, transportation and logistics, retail, healthcare, and others) and geographical regions (North America, APAC, Europe, MEA, and South America).
The North American region led the market in 2018, followed by the APAC, Europe, MEA, and South America respectively. The dominance of North America can be attributed to several factors such as increasing investments in the retail industry, rise in the adoption of smart factories, and increasing healthcare spending in the region.
Click here to read the full report.
