Market Size of Data Center RFID Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 12.60 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Data Center RFID Market Analysis
The Global Data Center RFID Market is expected to grow at a CAGR of 12.6% for the next five years. The sector's expansion is attributed to several causes, including the increasing need for data centers globally and the requirement for real-time asset information to lower associated risks.
- Data centers are important resources for contemporary life. The growth and popularity of the internet, mobile devices, and the Internet of Things (IoT) create a large quantity of information and data storage capacity. Asset management is made possible with the use of radio frequency identification (RFID), which also provides a way to boost productivity and save costs.
- Managers of data centers' RFID systems are constantly under continual demand to increase asset security while assuring effective resource usage. Also, data center administrators are concerned about increased data and information risks. Because of this, they are employing RFID technology to identify crucial assets, including servers, routers, and other IT assets.
- The upfront cost of deploying an active RFID system may be greater than deploying a comparable passive RFID solution due to the higher cost of active RFID tags compared to passive ones. However, with time, this price differential often becomes less important or disappears altogether. Passive RFID systems need regular, expensive labor hours as a continuing yearly investment to activate the tags and get the data they give manually.
- For logistics and transportation companies, real-time data and constant communication are essential. The profitability and customer service increase with a successful Proof of Delivery solution. Without having to hire more staff, it can keep consumers constantly updated about the progress of their orders. The entire delivery cycle may be controlled electronically on the back of signature capture functionality, saving many hours of paper pushing.
- The Covid-19 pandemic also compelled retailers to employ RFID on a broader scale by accelerating the already-progressing trend of digital transformation. To survive, omnichannel retail strategies that cater to client requirements across all sales channels become essential. RFID increases merchants' awareness of inventory across all their locations, the company, and distribution facilities to keep up with constantly shifting consumer needs.
