The global retail RFID market will reach $3.91 billion in 2019, increased $3 billion in the past of five years, According to a new Research of Technavio published a study data. Technavio predict that global RFID market’s compound annual growth rate will reach 40%.
"global RFID application retail market in 2015-2019" reported that the market take apart to three main areas.In 2014, 52% for America, 37% for Europe, about 37% Middle East and Africa (EMEA) , about 11% (APAC) in the Asia-pacific region.
In the forecast period, with the economic growth of China and India, the Asia-pacific region are expected to be the fastest growth. according to TechNavio research, America's long-term growth driving force will be Latin America. By 2019, the market share in the America is about 50%, the next is Europe and Asia-pacific for about 33% and 15%.
2014-2019 RFID market for retail applications
TechNavio reported that global sales are more than $22 million last year and will increase $6 million in 2018. It enhanced the retailer's demand for radio frequency identification technology. In the forecast period retail industry using RFID technology is another factor of e-commerce market competition for services, such as price and delivery time.RFID technology can allow retailers to reduce operational costs, shorten the delivery cycle time and reduce the error rate.
