Industrial RFID Market Grows on the Need for Accurate Visibility into Inventory

According to ARC Advisory Group’s new report on the industrial RFID marketplace, digitalization of manufacturing processes and the need for transparency continues to drive RFID adoption in manufacturing. Digitalization is driving the growth of RFID technology for asset data collection used in services like predictive maintenance and remote support.

Devices are becoming intelligent, bringing data and communications to a new level. Industry 4.0 focuses on increasing flexibility in manufacturing. Smart factory technology will leverage RFID in realizing digital goals. The pandemic played a big role, especially in sensing and identification areas. The sudden disruptions in manufacturing made manufacturers realize that they needed accurate visibility into their inventory. Many manufacturers realized that having visibility of inventory (parts, tools, operations, etc.) both within their enterprises and supply chains was far more critical than at any other point in the past.

"Immense growth of e-commerce continues to fuel demands for end-to-end product traceability, visibility, sustainability, and reduced friction operations in most industries. RFID technology offers data in real-time and is used to facilitate most tracking operations while reducing human error. There is a growing need for accurate visibility of inventory and into the most important areas of an organization’s operations across multiple locations or a specific area, people, and assets," according to Rita Liu, Director of Research and key author of ARC's RFID in Manufacturing Market Research Report.

In addition to providing detailed competitive market share data, the report also addresses key market trends as follows:

- Growth in UHF Passive RFID

- Growing Adoption of E-commerce

- Geographical Diversification of Operations

- Fabless Companies

- Data Driven

- Big Data & Cloud Computing

News release from ARC Advisory Group, 01/02/2023

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