The market researchers have identified it its RFID in 'Global Manufacturing 4.0 Market, Forecast to 2025' analysis that interconnectedness of devices has resulted in massive volumes of RFID data which needs to be managed and analysed. This has prompted 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."
"As the total cost of ownership 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 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 that, according to Frost & Sullivan:
- Offer solutions that can be easily integrated into the existing manufacturing infrastructure and can enable IoT connectivity.
- Provide precise and accurate RTLS solutions at competitive prices.
- Develop devices with faster read rate, ability to read more number of tags in a single read as well as highly sensitive antenna, compatible form factors, and increased mobility.
- Gauge customers’ requirements and re-structure their business models accordingly.
