A RFID Market Client Achieved Savings of Over $7.7 Million in Operating Costs with Industry Mapping Analysis

March 16, 2020

RFID Market Overview

The RFID (radio frequency identification) market is expected to witness substantial growth through 2025 due to rising interest in value chain management, expanding IoT infrastructure, and increasing government initiatives to integrate RFID technologies across various applications. On the contrary, the higher cost of RFID implementation, dip in demand for RFID sensors, and ethical issues increase challenges for companies operating in the global RFID market. To succeed in the long-run, companies operating in the RFID market are in the need to focus on keeping costs low while delivering enhanced value.

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Business Challenges

The client is an RFID sensor manufacturing firm based out of Australia.  High initial costs for setting-up RFID systems, uncertainty on the future of the most promising technologies, the lack of well-established standards, and organizational costs of training labor made it difficult for small and mid-sized businesses to adopt RFID technologies. Also, due to insufficient privacy and security safeguards, the social acceptance of RFID technology was quite low in Australia. Besides, the use of RFID applications raised various security and privacy concerns for businesses. As a result, the client encountered a huge decline in the demand for RFID sensors, which subsequently impacted the company’s profit margins. The RFID market client, therefore, sought to collaborate with Infiniti Research to address business complexities and gain a leading edge in the market.

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