Radio frequency identification is an automatic identification system. It is just like a magnetic strip or barcode on a credit card, an RFID provides a particular identification code that can be read by a scanner. RFID has been viewed as one of the essential part of the Internet of Things (IoT) for next generation pervasive networked and interconnected systems. HF RFID Inlays refers to the combination of the chip and antenna. This high frequency RFID is a perfect fit for item-level tracking, authentication and asset tracking solutions in medical and pharmaceutical applications.
Most popular industrial application consists of rental item and library book tagging for automatic self-checkout and restoring of digital and printed media, along with industrial closed loop systems for manufacturing automation. In addition, HF RFID is utilized as a personal currency in customer loyalty card and in ticketing applications. HF RFID technology is revolutionizing the supply chain management by replacing the barcodes. This technology is considered as one of the emerging and rapidly growing segment for the automatic identification and data capturing industry.
The major driving factor for the growth of the HF RFID Inlays is the reduced risk from counterfeiting among retailers and theft. Also, the reduction in labor cost, training cost, and the time savings are the other prominent factors that supports the profitability of the global HF RFID inlays market. The features offered by HF RFID Inlays includes faster response antenna design, high memory size, availability in dry and wet format and highly sensitive chip. One of the major restraints that restricts the growth of the HF RFID inlays market is the high initial cost. However, the HF RFID Inlays offer great application flexibility and fit-for-function design in the most of the demanding applications. Also, many companies or the major key players in the market are investing in RFID Inlays to strengthen their anti-theft systems to avoid any kind of destruction, damage and revenue loss to their inventories that will further increase the requirement over the forecasted time period.
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The global HF RFID inlays market is segmented into component, format, application, end use industry, and geography. On the basis of component, the global HF RFID inlays market is segmented into antenna and chip. On the basis of format the global HF RFID inlays market is segmented into dry inlay and wet inlay. Based on application, the global HF RFID inlays is segmented into apparel, electronic devices, gate access control, library, baggage tagging, and others. Based on end use industry, the HF RFID inlays market is segmented into consumer electronics, healthcare, retail, supply chain management and others.
The global HF RFID inlays market is also segmented on the basis of regions into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America HF RFID inlays market is expected to have a significant market share due to the advanced technology growth, product tracking and distribution of consumer goods, followed by the Europe. Asia Pacific region is anticipated as an emerging growing market for the HF RFID inlays due to growing trends in inventory management and growing supply chain and logistics industry.
Some of the major players in global HF RFID inlays market are Smartrac N.V., Identiv Inc., Impinj Inc., Invengo Technology Pte Ltd., Abracon LLC, Avery Dennison, Honeywell Internation Inc., Omnia technologies, Infochip LP, Alien Technology Inc., and Griffin-Rutgers Co Inc. among others.