What is the Global market size of RFID Market?

Global RFID Market size was valued at USD 13700.96 million in 2021 and is poised to grow from USD 15,769.8 million in 2022 to USD 48576.79 million by 2030, growing at a CAGR of 15.1% in the forecast period (2023-2030).

Global RFID Market Size, Share, Growth Analysis, By Product(Tags, Active Tags), By Frequency(Low Frequency, High Frequency), By Application(Commercial, Animal Tracking), By Component(Tags, Middleware) - Industry Forecast 2024-2031

Report ID: SQMIG15A2305 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 124 | Figures: 74

Global RFID Market Insights

Global RFID Market size was valued at USD 15.7 Billion in 2022 and is expected to grow from USD 18.07 Billion in 2023 to reach USD 55.66 Billion by 2031, at a CAGR of 15.1% during the forecast period (2024-2031)

Radiofrequency Identification (RFID) is a wireless system comprising tags and readers. The reader, functioning as a transmitter and receiver through antennas, emits radio waves and captures signals from RFID tags. These tags, either passive or active, utilize radio waves to transmit their identity and crucial data to nearby readers. The technology finds extensive application in diverse sectors, such as monitoring goods along the supply chain, tracking parts en route to manufacturing lines, asset tracing, security measures, and enabling secure payment methods that bypass traditional currency exchanges.

Global RFID Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

The competitive environment of the global RFID Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Avery Dennison', 'Data Logic', 'GEO RFID', 'HID Global', 'Honeywell', 'Identiv', 'Invengo', 'Impinj', 'NXP Semiconductor', 'Zebra Technologies', 'Nedap', 'Impinj, Inc.', 'NXP Semiconductors', 'Unitech Electronics Co., Ltd.', 'HID Global Corp.', 'Invengo Information Technology Co., Ltd.', 'Datalogic SpA'

Several impactful trends are catalyzing the adoption of RFID technology across industries. Automation, supply chain management, real-time intelligence, asset tracking, and contactless payments, along with the integration of Near Field Communication (NFC), stand out as significant drivers. Additionally, government mandates mandating the use of RFID tags across sectors such as defense, livestock, and data centers play a pivotal role in industry advancement.

As the industry continues its expansion, concerted efforts have intensified to standardize both products and frequency bands within the RFID landscape. Leading organizations such as Electronics Product Code Global Incorporated (EPCglobal), the International Organization for Standardization (ISO), and the International Electrotechnical Commission (IEC) spearhead these standardization initiatives.

In 2022, North America emerged as the global market leader, commanding over 36.0% of the total revenue share. The region is poised for further RFID technology adoption driven by industry maturation and the amplified demand for contactless solutions amid the ongoing impact of COVID-19. Notably, the retail sector in North America stands at the forefront of this surge, displaying substantial interest and reliance on RFID technology.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global RFID Market Size, Share, Growth Analysis, By Product(Tags, Active Tags), By Frequency(Low Frequency, High Frequency), By Application(Commercial, Animal Tracking), By Component(Tags, Middleware) - Industry Forecast 2024-2031

Global RFID Market Insights

Global RFID Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of RFID Market?

Who are the key vendors in the Global RFID Market?

What is the key driver of Global RFID Market?

What is the key market trend for Global RFID Market?

Which region accounted for the largest share in Global RFID Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300