RFID Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2021-2025

RFID Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The RFID will grow at a CAGR of 9.74% during 2021-2025. Prices will increase by 3%-5% during the forecast period and suppliers will have a moderate bargaining power in this market. AVERY DENNISON CORP., Zebra Technologies Corp., Honeywell International Inc., NXP Semiconductors NV, Impinj Inc., HID Global Corp., GAO RFID Inc., Identiv Inc., Invengo Technology Pte. Ltd., and Nedap NV are among the prominent suppliers in RFID market.

Who are the Top Suppliers in the RFID Market?

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Leading global suppliers can assist buyers in realizing high-cost savings through their efforts in areas such as vertical integration, supplier synergies, reducing total ownership cost, conference participation, managing commodity price volatility, negotiate on pricing and contractual terms, ad-hoc spend management, operations automation, and quality management. Collaborations with global suppliers will also help buyers in cost-saving and ensuring high-quality procurement in the dynamic market.

This report offers key advisory and intelligence to help buyers identify and shortlist the most suitable suppliers for their rfid requirements. Some of the leading RFID suppliers profiled extensively in this report include:

 

• AVERY DENNISON CORP.
• Zebra Technologies Corp.
• Honeywell International Inc.
• NXP Semiconductors NV
• Impinj Inc.
• HID Global Corp.
• GAO RFID Inc.
• Identiv Inc.
• Invengo Technology Pte. Ltd.
• Nedap NV

 

Supplier Selection and Evaluation

Profile and service capabilities of the service provider, industry specialization of the service providers, reputation of service providers, and assessment of value-added services are some of the most critical parameters that buyers use to shortlist the suppliers in RFID.

This report evaluates suppliers based on ability to provide value engineering, high-quality standards and delivery performance, extensive information about their supply chain, and r and d spend. In addition, suppliers are also shortlisted based on business needs, technical specifications, operational requirements, security compliance, regulatory mandates, legal requirements, quality control, change management procedures, pricing models, penalty clauses, SLA nuances, acceptance criteria, and evaluation criteria.

What are the Major Pricing Trends in RFID Procurement?

The pressure from substitutes and a moderate level of threat from new entrants has resulted in the moderate bargaining power of suppliers. This makes it extremely important to get the pricing and pricing model right. Buyers should align their preferred pricing models for RFID with the wider industry and identify the cost-saving potential.

Fixed pricing model, volume-based pricing model, and cost-plus pricing model are the most widely adopted pricing models in the RFID. Each pricing model offers optimum benefits and fitment in specific situations. Buyers should identify the model that suits their operations in the best manner and link supplier performance to the pricing models.

Price Strategies and Benchmark

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To optimize the value of the purchase it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects a change of 3%-5%.

• Identify favorable opportunities in RFID TCO (total cost of ownership)
• Expected changes in price forecast and factors driving the current and future price changes
• Identify pricing models that offer the most rewarding opportunities

Will there be an Increase in the Spend Growth for RFID Procurement?

The report provides a complete drill-down on global RFID spend outlook at a global as well as regional level. Current spend scenario, growth outlook, incremental spend, and other key information is available individually for North America, South America, Europe, the Middle East and Africa, and APAC.

Spend Growth and Demand Segmentation

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The rfid market will register an incremental spend of about 5.89 $ billion during the forecast period. Only a few regions will drive the majority of this growth. On the supply side, North America, South America, Europe, Middle East and Africa, and APAC will have the maximum influence owing to the supplier base.

The drivers and inhibitors that influence these global and regional outlooks are also elaborated in detail. Our in-depth growth decomposition analysis covers details on:

• Factors driving the growth (or lack of it) in individual geographies
• Regions that hold the most rewarding opportunities for buyers and suppliers
• Is the spend growth cyclical and when will the growth curve peak?

What are the Major Category Management Objectives for RFID Sourcing?

A targeted strategic approach to RFID sourcing will provide several opportunities to buyers. However, in the absence of actionable intelligence on RFID, buyers have resulted in a transaction-based approach towards the category. The buyers have moderate bargaining power in this market and a holistic category management approach will help buyers maximize the value on their RFID procurement.

The report explains key category management objectives that should form the base for sourcing strategy, including:

 

• Scalability of inputs
• Category innovations
• Supply base rationalization
• Demand forecasting and governance
• Category innovations
• Minimalization of ad hoc purchases
• Adherence to regulatory nuances
• Cost savings
• Reduction of TCO
• Green initiatives
• Top-line growth
• Minimalization of ad hoc purchases

 

In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report will also help create the necessary support structure to facilitate implementation. This report provides in-depth inputs on streamlining category management practices and provides detailed answers on:

• The strategic sourcing objectives, activities, and enablers for RFID category
• Rfid procurement best practices to promote in my supply chain

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