The Data Center RFID market which was estimated at 1.48 billion in 2022 is expected to reach a value of US$ 9.42 billion by the end of the forecast period (2023-2029), with a projected Compound Annual Growth Rate (CAGR) of 30.2%. Data centers have become essential assets in modern society, driven by the increasing prominence of the internet, mobile devices, and the Internet of Things (IoT). These technologies generate vast amounts of information, necessitating substantial data storage capacity.
The Data Center RFID market is witnessing significant growth as data center managers seek innovative technologies to enhance data protection, improve regulatory compliance, optimize auditing processes, and reduce IT asset management costs streamline functions, reduce costs, improve inventory accuracy, and enhance operational efficiency. However, some organizations still conduct manual inventory counts, limiting the growth potential of the global Data Center RFID market. The regional analysis highlights the growth of the North America market, driven by the need for efficient asset tracking, cybersecurity concerns, and the demand for RFID technology in various industries.
The market is very competitive. Key players include GAO RFID Inc, Zebra Technologies Corporation, Hewlett-Packard, Omni-ID Ltd., Casia apps, and others. Prominent players such as Dell, HP, IBM, and Cisco are offering services to tag equipment with RFID tags before shipping to customers, eliminating the need for customers to tag equipment and automating internal processes.