USD 18.07 billion
RFID Market Size, Share, and Growth Analysis
RFID Market By Component (Hardware, Software), By Type (Active, Passive), By Wafer Size (8-Inch, 12-Inch), By Material (Heat Resistant, Liquid Resistant), By System, By Frequency Range, By End Use, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG15A2305 |
Region:
Global |
Published Date: February, 2025
Pages:
157
|Tables:
124
|Figures:
74
Format -
RFID Market Insights
RFID Market size was valued at USD 18.07 billion in 2023 and is poised to grow from USD 20.8 billion in 2024 to USD 64.07 billion by 2032, growing at a CAGR of 15.1% during the forecast period (2025-2032).
The global RFID market is driven by factors, including the influence of generative AI. With this huge radio frequency identification tag counts, it retrieves valuable patterns and information from those and thereby allows the companies to make them more effective and reduce the expenditure by making their procedures associated with asset tracking, supply chain management, and inventory management easier and streamlined. In addition, generative AI systems can identify anomalies in radio frequency identification data streams and detect potential security threats or fraudulent activity. Generative AI may help companies identify and prevent theft, inventory loss, and counterfeit goods by analyzing trends and deviations from normal behavior, enhancing security and protecting assets.
The global RFID market growth is expected to be driven during the forecast period, due to the use of generative AI technology. In addition, the emphasis on sustainability and environmental responsibility is increasing the use of this technology for recyclable and environmentally friendly applications. In this regard, increasing the market space is energy-efficient RFID readers, sustainable material-based RFID tags, and radio frequency identification-enabled recycling and waste management systems. Moreover, the market has been becoming increasingly innovative due to the integration of this technology with Industry 4.0 and IoT. An interconnected smart ecosystem with an improvement of visibility, automation, and decision-making is the product of a system of deployment for RFID-enabled sensors and devices in various sectors which facilitate real-time data collection.
Market snapshot - 2025-2032
Global Market Size
Largest Segment
Tags
Fastest Growth
Readers
Growth Rate
15.1% CAGR
Global RFID Market ($ Bn)
Country Share for North America (%)
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RFID Market Segments Analysis
Global RFID Market is segmented by Component, Type, Wafer Size, Material, System, Frequency Range, End Use and region. Based on Component, the market is segmented into Hardware and Software. Based on Type, the market is segmented into Active, Passive and Battery-Assisted Passive (BAP) RFID Tag. Based on Wafer Size, the market is segmented into 8-Inch, 12-Inch and Other Wafer Sizes. Based on Material, the market is segmented into Heat Resistant, Liquid Resistant. Based on System, the market is segmented into Active RFID System and Passive RFID System. Based on Frequency Range, the market is segmented into Low Frequency (30kHz- 300kHz), High Frequency (3MHz-30MHz) and Ultra-high Frequency (300MHz-3GHz). Based on End Use, the market is segmented into Commercial, Animal Tracking, Transportation, agriculture, Security and Access Control, Healthcare, Retail, Logistics and Supply Chain and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Product Type
Based on the 2024 global RFID market analysis, the tags category accounted for the largest share of revenue owing to their larger data carrying capacity compared to traditional barcode labels. Such tags can hold information such as product specifications, production information, expiry dates, and maintenance records, which can be useful throughout the product life cycle. RFID tags are used in critical sectors such as manufacturing, shipping, and retail because of an increased data store capacity that offers real-time monitoring and tracking of items. Its durability, whereby it can be exposed to extremities in terms of temperature, moisture, vibrations, and mechanical impact, will further increase use in manufacturing and warehouse facilities. This is assured by the guaranteed performance in most industrial applications.
The readers segment is predicted to have the highest compound annual growth rate over the projection period. This is attributed to their ability to rapidly and accurately collect data from many RFID tags simultaneously, which allows for high-speed data collection and processing. In applications such as inventory management, asset monitoring, and access control, where the need for timely and accurate data collection is paramount, the ability to read large amounts of data in real-time increases operational efficiency. Moreover, RFID readers can do process optimization and automation because they can lessen a lot of time in manual scanning and are thus found in many industries striving for better data management and productivity.
Analysis By Industry
As per the 2024 global RFID market forecast, with technology providing more details regarding the entire supply chain of a merchant-from production, through distribution to the store shelf, the retail segment accounted for most of the RFID market share in 2024. RFID has such applications as real-time tracking of shipment status, monitoring of delivery schedules, and the identification of possible delays in the supply chain segments, thus guaranteeing timely availability of products. It facilitates also the efficient management of stocks, eliminating human errors, strengthening loss prevention measures, and yielding accurate stock level data. With RFID, it also aids businesses in keeping track of items throughout the shop. This helps decrease theft and overall safety, leading to cost-cutting and efficient operation.
However, due to increasing RFID usage, the transportation & logistics industry is expected to grow at the highest compound annual growth rate (CAGR) over the forecast period. The use of RFID significantly reduces manual intervention; transport and logistic companies can completely automate the identification process of shipments and data collection. It will be an effective system, thus simplifying the operations because of real-time tracking of items, streamlining routes, and enhancing shipment visibility across the supply chain. In this respect, RFID boosts productivity, minimizes errors, and prevents delay in the products flow. Therefore, there is an anticipation that automation and other operational enhancements brought about by the RFID system shall have a strongly positive effect in the transportation and logistics industry.
Global RFID Market By Product Type
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RFID Market Regional Insights
High levels of RFID technology are being included in the retail sector and also in the supply chain. It has led to North America being the main contributor in 2024. Retailers have applied the use of RFID for application purposes such as omnichannel fulfillment, stock replenishment, inventory management, and theft prevention. To make supply chain partners more efficient and responsive, radio frequency identification is utilized to track and view items in real time throughout the distribution network. Moreover, the North American healthcare industry has adopted radio frequency identification technology in terms of inventory control, asset management, medicine delivery, and patient tracking, which have collectively contributed significantly to the expansion of the region's market.
Asia Pacific will be the growing market with the highest rate of CAGR over the forecast period. Due to the vast and critical manufacturing and logistics hub, RFID technology is applied in a wide range in the Asia Pacific for supply chain optimization, production control, and asset tracking. The technology helps manufacturers track parts and components, monitor work-in-progress, and ensure that rules and standards are being followed. Logistics organizations use radio frequency identification in the region's dynamic industrial and commerce environment to monitor and witness items in real time throughout the supply chain, thereby reducing costs and increasing efficiency.
Global RFID Market By Geography
- Largest
- Fastest
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RFID Market Dynamics
RFID Market Drivers
Better Stock Inventory
-
RFID technology improves stock inventory accuracy since it provides actual-time information of product movement and eliminates human error and stockouts. Manufacturers, shipping companies, and retailers increasingly turn to RFID solutions to automate inventory tracking and strengthen effectiveness in managing the inventory. Resource allocation becomes much better, the possibility of inconsistencies occurs less frequently, and the view of the whole supply chain, thereby increasing the need for RFID solution across different areas of activity.
Cost Reduction and Increasing Efficiency
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RFID supports firms in improving operations and cost-cutting capabilities by automating procedures such as data collection and product monitoring. The technology tends to simplify and make asset tracking, shipment tracing, and the management of an inventory more effective. As the technology improves effectiveness and reduces manpower, RFID can be widely observed in manufacturing and shipping industries in addition to its use in retails, causing profitability to multiply.
RFID Market Restraints
High Initial Investment Costs
-
One of the significant barriers for small and medium-sized companies may be the high upfront cost of deploying RFID technology. Tags, readers, software, and connection with current systems are expensive, especially for businesses that have limited budgets. This significant one-time investment would deter firms from adopting RFID technology and would hence restrict its general application, mainly in low-sensitive price markets.
Privacy and Data Security Issues
-
The RFID system does have security concerns because the radio frequency through which data is communicated can be diverted or altered by unauthorized individuals. This has been a major issue in sectors such as retail and healthcare, with regard to the security and privacy of sensitive data. As businesses increase their use of RFID, they must address these concerns by putting in place strong encryption and security measures to ensure data integrity and customer confidence.
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RFID Market Competitive Landscape
In this competitive RFID market, some major players include companies such as Zebra Technologies, Honeywell International, Impinj, and NXP Semiconductors. With emphasis on innovation, accuracy in data, and smoother integration, the business of these firms provides extensive solutions of RFID both in terms of hardware and software. Other firms also are entering into the competition with specific specialized solutions for respective sectors. All this rivalry fuels technological improvement, cost-effectiveness, and higher performance of an RFID system.
Top Players in RFID Market
- Honeywell International Inc. (United States)
- Impinj, Inc. (United States)
- Zebra Technologies Corporation (United States)
- Avery Dennison Corporation (United States)
- NXP Semiconductors N.V. (Netherlands)
- Alien Technology Corporation (United States)
- Smartrac N.V. (Netherlands)
- SML Group Limited (Hong Kong)
- Invengo Information Technology Co., Ltd. (China)
- Identiv, Inc. (United States)
- Checkpoint Systems, Inc. (United States)
- GlobeRanger Corporation (United States)
- Nedap N.V. (Netherlands)
- RFID4U (United States)
- CYBRA Corporation (United States)
- Assa Abloy AB (Sweden)
- CCL Industries Inc. (Canada)
- Datalogic S.p.A. (Italy)
- Bluebird Inc. (South Korea)
- ThingMagic, Inc. (United States)
Recent Developments in RFID Industry
- Galaxy Entertainment Group and Melco Resorts intend to provide tablets, fitted with radio frequency identification technology, to casinos by March 2024, helping control inventory and monitor players, thus preventing fraud.
- HID Global and Olea Kiosk collaborated, in January 2024, on employing radio frequency identification technology in access control applications to improve the user experience in check-in and authentication.
- Newland AIDC partnered with Impinj in January 2024. Through this partnership, Newland AIDC aims to utilize the advanced technology of Impinj to expand its product offerings.
RFID Key Market Trends
- Big Data and IoT integration: RFID integration with big data analytics and the Internet of Things is becoming increasingly popular across a range of businesses. Businesses may gather enormous volumes of data by combining RFID's real-time tracking capabilities with Internet of Things devices. This enables supply chain optimization, improved decision-making, and predictive analytics. This trend is changing how companies run their operations, increase productivity, and better satisfy customer needs.
- Transition to NFC and Smart Tags: With its upgraded features, near field communication technology, and smart RFID tags, it is gaining prominence for its precision accuracy, high speed of scan time, and larger capacity for storing data. Smart tags are increasingly finding applications such as retail inventory management, tracking of health-related records, and contactless payment systems. Since companies are implementing such advanced technologies to gain maximum advantage and more comfort, it is expected to push further growth in the global RFID industry.
RFID Market SkyQuest Analysis
SkyQuest's ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, technology breakthroughs and increased demand from manufacturing, healthcare, retail, and logistics sectors have been propelling the notable growth of the RFID market. RFIDs can offer better management of inventory, real-time tracking, and efficiency, which is crucial for reducing costs and smoothing operations for a company. While the benefits of automation and data-accurate market stay ahead of its disadvantages, such as high front-end investment costs and issues related to security of data, its applications and commercial reach will grow further if it integrates with IoT and big data. The global RFID industry is also thought of as always evolving and progressing with time, based on technology, across the globe.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 18.07 billion |
| Market size value in 2032 | USD 64.07 billion |
| Growth Rate | 15.1% |
| Base year | 2024 |
| Forecast period | 2025-2032 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on RFID Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on RFID Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the RFID Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the RFID Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the RFID Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the RFID Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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