A report forecasts the global RFID smart antenna market to grow annually at 12.94% during the period 2016-2020. The report has been prepared by Research and Markets is based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
An RFID system is a wireless technology that uses radio waves to receive data from a tag attached to an object. It is used for various purposes such as tracking objects and automatic identification. Components of RFID systems are as follows:
- Tag (attached to an object: unique identification)
- Antenna (tag detector: creates magnetic field)
- Reader (receiver of tag information: manipulator)
- Communication infrastructure (enable reader/RFID to work through IT infrastructure)
- Host (computer that receives the data)
A trend influencing market growth is the emergence of cloud-based RFID solutions. Advances in technology have led to the expansion of RFID technology in various fields such as the transportation, aerospace, IT, and logistics. However, due to high IT infrastructure requirements such as database, servers, and inter-/intra-network, which adds to its already high deployment and implementation costs, the adoption of RFID has been limited to small and medium-sized retail chains or stores.