Data Center Rfid Industry
The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Data Center Rfid Industry. The growth sectors of the Data Center Rfid Industry are identified with precision for a better growth perspective.
The global data center RFID market is expected to register a CAGR of 36.3% during the forecast period of 2019–2024. There are various factors contributing to the growth of the global data center RFID market, such as the increasing requirement for asset management systems to improve the operational efficiency and functionality of the data centers. Additionally, to overcome the losses caused due to downtime of the data center, the RFID usage is increasing as these devices and systems track and locate the malfunctioning systems or assets.
The global data center RFID market is estimated to grow at a significant rate in the future. The geographical analysis of data center RFID market has been conducted for North America, Europe, Asia-Pacific, and the rest of the world.
North America dominates the global data center RFID market, by region, due to the early adoption of the data center RFID across various industries. This is because North America has a large number of data centers due to the presence of various industries such as BFSI, IT & telecom, and healthcare, which generate large volumes of data regularly. Therefore, to store this data, there is a need for a significantly large number of data centers. Therefore, to track the asset and component during the downtime to reduce the losses; RFID is gaining popularity in the region. Additionally, the presence countries such as the US, Canada, and Mexico also contributes to the growth of the market. Asia-Pacific is considered to be the second largest market due to emerging economies such as India, Japan, China, and South Korea in the region. Moreover, high adoption of smartphones, laptops, smart devices, usage of the Internet in the region is growing rapidly, which also leads to the huge generation of data and increase the demand for data centers in the region, which directly increases the demand for data center RFID in the region.
MRFR recognizes the key players in the global data center RFID market as HP Inc.(US), IBM Corporation(US), Avery Dennison Corporation(US), GAO RFID Inc.(Canada), Impinj, Inc.(US), RF Code Inc.(US), Omni-ID, Ltd.(US), Zebra Technologies Corporation (US), Alien Technology Corporation(US), and Invengo Information Technology Co.(China).
The prominent players keep innovating and investing in research and development to offer a cost-effective product portfolio. There has been recent mergers and acquisitions among the key players, a strategy the business entities emphasize strengthening their reach to the customers.
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Data Center RFID Market by Type, Size, Growth and Forecast – 2024 | MRFR
Data Center RFID Market is projected to reach USD 5.53 billion by 2024, registering a CAGR of 36.3% …
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