Global apparel RFID semiconductor market: 20% CAGR growth forecast between 2012-2016
Global RFID Semiconductor Market in the Apparel Industry 2012-2016 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-04-28 00:51:01
The Global apparel RFID semiconductor market is to grow at a CAGR of 19.8 percent over the period 2012-2016. Mandates made by retail giants that require suppliers to use RFID is one of the key factors contributing to this market growth. The Global RFID Semiconductor market in the Apparel industry has also been witnessing increasing R&D spending. However, the high initial investment required to deploy RFID devices could pose a challenge to the growth of this market.
In recent years, the vendors in the Global RFID Semiconductor market in the Apparel industry are increasing their R&D spending on RFID semiconductors. Leading vendors such as NXP Semiconductors, Impinj, Alien Technology, and EM Microelectronics have increased their investment in the R&D of RFID semiconductors. Moreover, they are partnering with software and hardware suppliers and value-added resellers for making significant investments in R&D. Further, the focus on R&D is helping vendors to introduce RFIDs that are inexpensive and more effective. Thus, high accuracy, lower price, and better integration ability is leading to the faster adoption of RFID solutions among major end-users in the market.
One of the major drivers in this market is the mandates made by major retail giants that require their suppliers to use RFID devices. Most of the retail giants such as Wal-Mart have instructed their suppliers to use RFID tags on every pallet that they supply.
One of the major challenges in this market is the requirement for high initial investment for the deployment of RFIDs. The high cost is a major barrier that prevents the adoption of RFIDs by small and medium sized apparel retailers globally.
The key vendors dominating this space include NXP Semiconductors, Impinj Inc., Alien Technology Corp., and EM Microelectronic- Marin SA.
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