Radio-Frequency Identification (RFID) Market Analysis, Trend, Size, Growth and Forecast 2020-2030

Global Radio-Frequency Identification (RFID) Market Overview

RFID or Radio Frequency Identification is an automatic identification method, relying on storing and remotely retrieving data using devices called RFID tags or transponders. RFID tag is a product that can be applied to or incorporated into an object, animal, or person for the purpose of identification using radio frequency waves. Some tags can be read from several meters away and beyond the line of sight of the reader.

Radio-Frequency Identification (RFID) Market has become a force in the retail space, particularly in apparel and shoes, with the potential for excellent growth in this market. Meanwhile, there are plenty of other markets - healthcare and automotive. A growing number of companies recognize, RFID offering to ease product tracking, optimize the flow of commodities and inventory management, prevent product counterfeiting, improve their processes and realize gains in efficiency.

Radio-Frequency Identification (RFID) Market tags carry unique product numbers. RFID technology has been in use for several years now; however, the recent growth in its applications across a wide set of industries, such as retail, transport, medical, and defense, among others, has spurred its adoption. The retail industry is at the forefront and has witnessed its technological reconnaissance with the use of RFID tags. An interesting fact of the retail sector is the way it has successfully passed on the benefits of the technology to other industries in the supply chain with the help of the mandates.

According to a recent study report published by Market Research Future, The global market of RFID Tags is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2030, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2022 – 2030).

Competitive Dashboard

NXP Semiconductors N.V (Netherlands), Alien Technology (US), 3M Company (U.S), ACTAtek Technology (U.S), Axcess International, Inc. (U.S), : Impinj Inc. (US), Ascendent ID (U.S), ), Checkpointt System Inc. (U.S), and Avery Dennison Corporations (US), among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global RFID market.

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Radio-Frequency Identification (RFID) Market - Segments:

Global Radio-Frequency Identification (RFID) Market is segmented in to 6 Key dynamics for an easy grasp and enhanced understanding.

Segmentation by Product Type: Tags, Reader, Software

Segmentation by Wafer size: 200mm, 300mm, 450mm

Segmentation by Components: Passive RFID, Active RFID and Others

Segmentation by Frequency: Low Frequency, High Frequency, Ultra-high Frequency and Active Ultra-High Frequency

Segmentation by End- Users: BFSI, Animal Tracking/Agriculture, Commercial, Transportation, Healthcare, Logistics and Supply Chain, Aerospace, Defense, Retail, Security and Access Control, Sports and Others

Segmentation by Regions: Comprises regions - North America, Europe, APAC and Rest of the World.

Radio-Frequency Identification (RFID) Market - Regional Analysis

The regional analysis of Radio-Frequency Identification (RFID) Market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. North America region accounts for the largest market share, followed by Europe and Asia Pacific region. The study reveals that Europe region is showing a rapid growth due to its storage and tracker solution by the Radio-Frequency Identification (RFID) tags. The market is expected to register substantial growth in the near future, attributed to increase in usage of security & access control applications, requirement of the accurate data unit, and growth in demand for effective store handling. However, factors such as high initial investment cost, damage of sensors, and device interoperability restrain the growth of the market.

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