Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects. Of late, RFID is being used in production, marketing and management processes by most of the industries. Through the tagging products, companies could know the progress of the product at various level of production or marketing.
The RFID market was worth US$8.89 billion in 2014 and it could touch to the tune of US$18.68 billion by 2026. This figure includes tags, readers, and software/services for RFID cards, labels, fobs, and all other form factors.
RFID can be used in a variety of applications, such as:
- Electronic key for RFID based lock system
- Access management
- Tracking of goods
- Tracking of persons and animals
- Toll collection and contactless payment
- Machine readable travel documents
- Smartdust (for massively distributed sensor networks)
- Airport baggage tracking logistics
- Timing sporting events
- Tracking and billing processes
Low Power Wide Area Network (LPWAN) targets key requirements of IoT such as secure bi-directional communication, mobility and localization services. The LPWAN solutions provide you flexibility of connecting smart things and completing internal operations without going for complex installation process. It gives freedom to users, businesses, enterprises and users to enabling the roll out of IoT and smart devices. LPWAN is an excellent connectivity solution which has made IoT possible now, with minimal infrastructure investment.
A beacon is an intentionally conspicuous device designed to attract attention to a specific location. Beacons can also be combined with semaphoric or other indicators to provide important information, such as the status of an airport, by the colour and rotational pattern of its airport beacon or of pending weather as indicated on a weather beacon mounted at the top of a tall building or similar site. When used in such fashion, beacons can be considered a form of optical telegraphy.
Global Beacon Technology Market is expected to touch USD 25 billion by 2024. The growth in the market is due to increasing penetration of smartphones around the world and need for location-based proximity marketing solutions to improve customer experience.