Global RFID Middleware Market 2019-2023 11% CAGR Projection

The global RFID middleware market 2019-2023 is expected to post a CAGR of more than 11% during the period 2019-2023, according to the latest market research report by Technavio.

The growth of the global RFID middleware market size can be attributed to the growing number of RFID applications. The adoption of RFID technology is increasing as it provides several advantages, such as reduced production downtime, location tracking, and reduced labor costs for various applications, including inventory management and data management. This increases the demand for RFID middleware, which is used to collect the flow of data between RFID readers and RFID tags and provide data filtering, data aggregation, and device management to the RFID middleware administrator.

The global manufacturing landscape is witnessing increased interest in smart factories that are equipped with advanced technologies. The deployment of smart technologies in industries facilitates efficient monitoring of the manufacturing process from remote locations. RFID middleware is used in smart factories for various applications, such as fleet tracking, inventory and asset management, and personal tracking. Thus, the growing investments in smart factories will fuel the growth of the RFID middleware market during the forecast period.