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Data Center RFID Market Size

Report ID: GMI6666
Published Date: Sep 2023
Report Format: PDF

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Data Center RFID Market Size

Data Center RFID Market size was valued at USD 1.1 billion in 2022 and is projected to grow at a CAGR of over 18.5% between 2023 and 2032. Real-time asset management is driving the data center RFID industry growth by enhancing operational efficiency & security. RFID technology enables data centers to continuously monitor & track assets, thereby reducing the risk of equipment loss or theft. It offers immediate updates regarding asset status, location, and maintenance needs, facilitating proactive decision-making. This real-time visibility optimizes resource allocation and supports data center scalability, making it a valuable investment for data center operators looking to streamline operations and improve asset utilization.

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In the inventory management of data center RFID, the tracking of the equipment entering & leaving the data center is streamlined. The RFID tags on assets automatically update the inventory database, thereby ensuring accurate records. This automation prevents the overstocking or understocking of critical components, minimizing operational disruptions. It also provides real-time visibility into the availability of hardware resources, helping data center managers make informed decisions about resource allocation & procurement, ultimately improving the overall efficiency & effectiveness of data center operations.

Data Center RFID Market Report Attributes
Report Attribute	Details
Base Year:	2022
Data Center RFID Market Size in 2022:	USD 1.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	18.5%
2032 Value Projection:	USD 6.3 Billion
Historical Data for:	2018 – 2022
No. of Pages:	263
Tables, Charts & Figures:	293
Segments covered:	Component, Organization Size, Application, and Region
Growth Drivers:	Improved asset management Rising need to reduce the risk of equipment loss Growing demand for streamlined inventory management Need to mitigate human errors Automation in equipment provisioning
Pitfalls & Challenges:	Electromagnetic interference can interfere with RFID signals The high upfront cost of RFID integration

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The high cost associated with implementing data center RFID solutions can be a significant hindrance to market growth. The initial expenses include the purchasing of RFID tags, readers, infrastructure, and software can strain the budgets of smaller data centers or those with limited resources. Moreover, the ongoing costs associated with maintenance, upgrades, and staff training can further escalate expenses. To overcome this challenge, businesses must carefully assess the cost-benefit ratio by considering the potential operational efficiencies and security enhancements to justify investments in RFID technology.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for data center RFID was valued at USD 1.1 billion in 2022 and is projected to grow at a CAGR of over 18.5% between 2023 and 2032, owing to the demand for real-time asset management with enhanced operational efficiency & security.

The RFID readers segment is expected to grow at a CAGR of around 18% during 2023-2032, backed by the enhanced security as these readers grant authorized personnel access to specific areas based on the credentials stored in RFID tags or cards.

North America data center RFID industry accounted for over 40% revenue share in 2022 and will continue to showcase impressive growth through 2032, backed by the proliferation of cloud services, rising digital transformation initiatives, and the rapid growth of edge computing.

Impinj, RFTrail, Synertech, Zebra Technologies, Alien Technology, ThingMagic, CAEN RFID, Convergence Systems Limited (CSL), and GAO RFID Inc.