In the countries of the Asia-Pacific region alone, the RFID market is expected to grow at a CAGR of 14.93 percent during the forecast period, according to Technavio's “Global RFID Market 2016-2020” report.
To calculate the market size, Technavio researchers have covered revenues generated from end-user segments such as industrial, financial services, logistics, retail, healthcare, and others (sports, airlines, consumer products, animals, and farming).
“Developing countries in APAC are driving a significant demand for RFID solutions,” says Sunil Kumar Singh, a Technavio lead research analyst for embedded systems. “Over the last decade, China and India have emerged as key revenue contributors to the market. The region is home to a large number of untapped countries that are still following traditional means of product tracking, and it is expected to further boost the prospects for vendors over the next four years.”
The top four RFID markets by end-users in 2015:
• Industrial 37.25 percent
• Financial services 29.15 percent
• Logistics 8.88 percent
• Retail 6.25 percent
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