(MENAFN- PR Newswire)
NEW YORK, June 14, 2024 /PRNewswire/ -- The global
RFID middleware market
size is estimated to grow by USD 3.24
billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 10.91% during the forecast period. Growing popularity of cloud-based RFID middleware among smes
is driving market growth,
with a trend towards
growing interest in smart retail stores. However,
rise in data security and privacy issues poses a challenge. Key market players include Aucxis bv, CCL Industries Inc., Cirfid Technology Co. Ltd., Fujitsu Ltd., GAO Group Inc., Intelligic Software Pvt. Ltd., Irys Pte Ltd., Johnson Controls International Plc, Lowry Solutions, Murata Manufacturing Co. Ltd., Nedap NV, Oracle Corp., Quake Global Inc., RF Code Inc., RFID4U, RMS Omega Technologies, SIGMA Chemnitz GmbH, SmartX Technology Inc., Terso Solutions Inc., and TIBCO Software Inc..
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Technavio has announced its latest market research report titled Global RFID Middleware Market 2024-2028
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| RFID Middleware Market Scope |
| Report Coverage |
Details |
| Base year |
2023 |
| Historic period |
2018 - 2022 |
| Forecast period |
2024-2028 |
| Growth momentum & CAGR |
Accelerate at a CAGR of 10.91% |
| Market growth 2024-2028 |
USD 3240.16 million |
| Market structure |
Fragmented |
| YoY growth 2022-2023 (%) |
10.71 |
| Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
| Performing market contribution |
North America at 40% |
| Key countries |
US, China, Japan, South Korea, and Germany |
| Key companies profiled |
Aucxis bv, CCL Industries Inc., Cirfid Technology Co. Ltd., Fujitsu Ltd., GAO Group Inc., Intelligic Software Pvt. Ltd., Irys Pte Ltd., Johnson Controls International Plc, Lowry Solutions, Murata Manufacturing Co. Ltd., Nedap NV, Oracle Corp., Quake Global Inc., RF Code Inc., RFID4U, RMS Omega Technologies, SIGMA Chemnitz GmbH, SmartX Technology Inc., Terso Solutions Inc., and TIBCO Software Inc. |
Market Driver
RFID middleware plays a crucial role in smart stores by facilitating communication between RFID readers and other systems. With the increasing adoption of RFID technology in retail establishments, such as Amazon and Walmart, the demand for RFID middleware is expected to grow significantly. This software enables seamless data exchange, enhancing inventory management, and improving overall operational efficiency in smart stores.
The RFID middleware market is experiencing significant growth due to the increasing adoption of RFID technology in various industries. This technology enables automatic data collection and real-time inventory management, leading to improved efficiency and accuracy.
The market is driven by the need for seamless integration of RFID systems with enterprise applications and the requirement for scalability and flexibility. Additionally, the trend towards cloud-based solutions and the increasing use of AI and machine learning in RFID systems are expected to further fuel market growth. Overall, the RFID middleware market is poised for continued expansion as businesses seek to optimize their operations and enhance their supply chain management capabilities.
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Market
Challenges
RFID middleware plays a crucial role in RFID systems by managing and monitoring data and devices. It decodes signals from RFID readers and provides analysis to end-users. Data security is a significant challenge in the RFID market, with threats such as clone tags and unauthorized readers. Due to these concerns, RFID middleware must ensure data encryption and filtering to protect sensitive information. Vendors aim to address these issues and expand into financial applications and card systems.
The RFID middleware market faces several challenges in implementing and integrating RFID technology. Cash flows and costs are significant considerations, as RFID systems require substantial investment for hardware, software, and maintenance. Interoperability issues persist, as different RFID systems may not communicate effectively with each other.
Additionally, ensuring data security and privacy is crucial, as RFID tags can store sensitive information. Furthermore, real-time data processing and analysis can be complex, requiring advanced analytics capabilities. Lastly, ensuring regulatory compliance, particularly in industries like healthcare and logistics, is essential. Addressing these challenges will be key to the growth and success of the RFID middleware market.
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Segment Overview
Deployment
End-user
2.1 Industrial
2.2 Transportation and Logistics
2.3 Retail
2.4 Healthcare
2.5 Others
Geography
3.1 North America
3.2 APAC
3.3 Europe
3.4 Middle East and Africa
3.5 South America
1.1
On-premise- RFID middleware's on-premises segment is crucial in the global market due to enhanced security and control over data and infrastructure. This segment reduces data breach risks and ensures faster response times for industries with high transaction volumes. Customizable and scalable, on-premises RFID middleware integrates with ERP and WMS systems, providing real-time inventory visibility and streamlined operations. These advantages are expected to boost the on-premises segment's growth during the forecast period.
For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) - Download a Sample Report
Research Analysis
The RFID middleware market plays a crucial role in the seamless integration and communication between various RFID components in applications such as inventory management and vehicle identification. RFID middleware facilitates the automatic identification process by translating and managing data from RFID tags and transponders, enabling real-time data exchange between RFID readers and databases.
In the context of toll collection systems, RFID middleware ensures efficient toll deduction processes by transmitting unique identification information to the database for registered vehicles upon passing through entry/exit lanes or toll booths.
The RFID system's architecture relies on radio frequency signals emitted by RFID tags, which are read by RFID readers and processed by the middleware for further analysis and action. The use of RFID middleware reduces manual involvement, ensuring safety and minimizing traffic congestion at physical toll booths.
Market Research Overview
The RFID middleware market refers to the software solutions that enable communication and data exchange between RFID readers and other systems. These middleware solutions provide real-time visibility into inventory and asset movements, enabling efficient supply chain management and operational improvements.
They offer features such as data normalization, filtering, and translation, ensuring seamless integration with enterprise applications.
RFID middleware supports various communication protocols and RFID technologies, making it a versatile solution for various industries, including manufacturing, healthcare, retail, and logistics. The market for RFID middleware is expected to grow significantly due to the increasing adoption of RFID technology and the need for real-time data processing and analysis.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Deployment
End-user
Industrial
Transportation And Logistics
Retail
Healthcare
Others
Geography
North America
APAC
Europe
Middle East And Africa
South America
7
Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
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SOURCE Technavio
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