Data Center RFID Market Research Report: By Data Center Type (Enterprise Data Center, Mid-Sized Data Center, Large Data Center), by Solutions (Readers, Tags, Antennas, Software, Others), by Service (Professional Services and Integration Services), by Vertical (BFSI, Government & Defense, IT & Telecom, Healthcare, Retail and others) and by Region (North America, Europe, Asia-Pacific and Rest of the World) – Forecast till 2024
Data Center RFID Market Overview
The global data center RFID market is estimated to reach USD 5.53 billion by 2024, registering a CAGR of 36.3% during the forecast period of 2019–2024.
The growing amount of information and data from mobile devices, the Internet, and IoT devices increases the requirement of storage systems and data centers. Presently there are various data centers which are being operated and more to be developed in near future; this is due to increasing volume of information and data such as images, text, company assets files, and confidential documents, among others. RFID systems are used to manage various assets of data centers such as routers, servers, tape media, and related IT assets. Data center RFID is used to reduce the human efforts as it takes a lot of time for tracking the assets manually. Additionally, RFID also reduces the errors during the operations process such as identification of assets, locating and tracking.
Data center RFID is an essential part of data centers as these are used for tracking errors during the operations of a system. The data center RFID solutions provide environmental monitoring, asset management, and integration services that enable operators to keep a track on the assets. Additionally, RFID in data centers saves a significant amount of time and cost during the downtime as RFID tracks and locate the affected system and assets which performance and functionality are degrading.
The global data center RFID market has been segmented based on data center type, solutions, services, and vertical.
By data center type, the market has been segmented into enterprise data center, mid-sized data center, and large data center. Among these, the enterprise data center holds the largest market share as big organization generates a large amount of data and requires more components such as servers, routers, and others. Moreover, the large organizations prefer investing in private data centers for storage to ensure privacy as they have high paying capacity.
Based on the solution, the global data center RFID market has been segmented as readers, tags, antennas, software, and others. The readers and tags segments hold a large market share compared to others. RFID tags are small tracking systems which use smart barcodes in order to detect items using radio frequency. An RFID reader is a device used to gather data from an RFID tag, which is used for tracking assets in a data center.
Based on verticals, the global data center RFID market has been further segmented as BFSI, government & defense, IT & telecom, healthcare, retail, and others. The BFSI segment holds the largest market share due to the generation of data on a regular basis in the industry; therefore, the demand for data centers is increasing owing to the need to store large volumes of data, which is directly driving the growth of the data center RFID market.
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The prominent players in the global data center RFID market are HP Inc.(US), IBM Corporation (US), Avery Dennison Corporation (US), GAO RFID Inc.(Canada), Impinj, Inc. (US), RF Code Inc. (US), Omni-ID, Ltd (US), Zebra Technologies Corporation (US), Alien Technology Corporation (US), and Invengo Information Technology Co. (China), Ltd, among others.
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