In the countries of the Asia-Pacific region alone, the RFID market is expected to grow at a CAGR of 14.93 percent during the forecast period, according to Technavio's “Global RFID Market 2016-2020” report.
To calculate the market size, Technavio researchers have covered revenues generated from end-user segments such as industrial, financial services, logistics, retail, healthcare, and others (sports, airlines, consumer products, animals, and farming).
“Developing countries in APAC are driving a significant demand for RFID solutions,” says Sunil Kumar Singh, a Technavio lead research analyst for embedded systems. “Over the last decade, China and India have emerged as key revenue contributors to the market. The region is home to a large number of untapped countries that are still following traditional means of product tracking, and it is expected to further boost the prospects for vendors over the next four years.”
