March 17, 2020

Data Center Rfid Market Share 2024 – A New Age Revolution in IT Solutions

Data Center Rfid Market Share

What is Data Center?

The understanding of data center and its importance is quite important in order to assess the use of Radio-frequency identification (RFID) electromagnetic fields integrated into it. Data centers are dedicated spaces where computing and networking equipment are kept. The sole purpose of the set-up is to collect, store, process, distribute or allow access to huge data generated on a day-to-day basis. Other key services offered by data centers are storage and backup.

Data recovery and backup features have enabled data centers to gain quick mileage. Enterprises generate a vast amount of data daily which is further used to devise strategies and marketing campaigns. In addition, in an era of digital marketing, these data serve as the medium between customers and sales channels. It is also of utmost importance for customer relationship management. All these factors have come together as the driver of the demand for data centers. It is not only the large enterprises that are inclined towards the technology, with the adoption of subscription models, even the small & medium industries are being observed to increase adoption of data centers.

Technological innovations & Data Centers

Well, data centers offer numerous advantages which have paved the way for the growth of the market for the same. But, to keep the market going on, vendors are innovating product lines. Technological advancements are being adopted to sustain the competition. These factors have led the way for the integration of RFID technology in data centers. RFID helps in improving the performance of data centers by increasing capacity and enhancing efficiency.

What is RFID?

Radio-frequency identification (RFID) is the latest technology that leverages electromagnetic fields to track and identify objects. It has a wide range of applications, ranging from clothes to animals. With time RFID technology has also evolved much. The first RFID patent can be traced down to the year 1983. Going by the track record of technological developments, it can be rightly said that the future beholds much more potential than has been capitalized on. And, considering that both data center and RFID has gained so much popularity in a short span of time, the future can only be imagined. However, one thing is for sure, i.e., the data center RFID market players will get a plethora of untapped opportunities.

Data Center RFID Market Scenario

Data center RFID market is likely to observe a rise in competition with time. Global and domestic players are investing in research & development to elevate their financial positions. In addition, new players are supposed to hop on the bandwagon due to the presence of attractive growth potential. This intense competition is supposed to work in favor of market over the next few years. The fact is backed by the study conducted by Market Research Future (MRFR). It has provided an estimation that the market for data center RFID, on the global front, is prognosticated to strike 36% CAGR between 2019 to 2024. The statistical observations offered further highlights that the valuation of the market is anticipated to exceed USD 5 Bn mark by 2024.

Functions of RFID in Data Centers

RFID in data centers are integrated to provide for an improved asset tracking solution. It has been witnessed that the time taken to track an asset sometimes can be too much. In such a situation, RFID technology ensures the prevention of human error and misplacement of devices. However, the use of the technology is not limited to tracking only. It can perform several other functions such as –

  • Performance management of assets by RFID ensures that the data is secured. It also makes ensures a productive lifecycle management of IT assets.
  • RFID can notify when there is any error in the data centers. To illustrate, temperature monitoring is one of the key advantages of the technology. When the temperature inside a data center exceeds the limit, it sends alerts to the concerned person for taking corrective measures.

More Information@

Data Center RFID Market by Type, Size, Growth and Forecast – 2024 | MRFR

Data Center RFID Market is projected to reach USD 5.53 billion by 2024, registering a CAGR of 36.3% …

Read on marketresearchfuture.​com

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