How IIoT is creating opportunities for RFID companies
The growth of the Industrial Internet of Things (IIoT) and cloud have given a huge boost to the adoption of radio frequency identification (RFID) technology in Manufacturing 4.0.
The interconnectedness of devices has resulted in massive volumes of RFID data that needs to be managed and analysed, prompting RFID manufacturers to develop high-memory tags that can hold more information, software platforms with a business intelligence layer, as well as cloud-based solutions.
"Due to the rising need for resource and cost efficiency, manufacturers are demanding complete visibility and adopting RFID solutions that aid the real-time location tracking and monitoring of their assets, business processes, and personnel,” said Nandini Bhattacharya Industry Manager for Measurement - Instrumentation at Frost - Sullivan.
"Passive RFID has experienced high-volume deployments in the past and will continue to grow, especially in the ultra-high frequency segment, while active RFID, although a smaller market, has potential in real-time location system (RTLS) applications."
Frost - Sullivan's recent analysis, RFID in Global Manufacturing 4.0 Market, Forecast to 2025, focuses on the trends, challenges, and factors driving the market sectors of tags, readers, and software and services.
It provides product revenue and units forecasts, a country-wise breakdown of each region, competitive analyses, and a list of key market participants, along with their respective market shares.
"As the total cost of ownership (TCO) of an active RFID system is prohibitive, small and medium enterprises opt for the more affordable passive RFID solutions," noted Bhattacharya.
"Active RFID manufacturers need to focus on the standardisation of active 433 MHz RFID to drive its growth.
“The rising ubiquity of ultra-wideband (UWB) and Bluetooth low energy (BLE) RTLS solutions will give the solution an added boost."
Overall, the growing demands for automation and digitisation are creating considerable growth opportunities for RFID vendors.
RFID in Global Manufacturing 4.0 Market, Forecast to 2025 is part of Frost - Sullivan's global Mechanical Power Transmission Growth Partnership Service program.