Radiofrequency Identification (RFID) Market: Emerging Opportunities, Trends and Forecast Analysis (2021-2027) by Product, Tag, and Application and Region.

Radiofrequency Identification (RFID) market was valued at US$ 9.82 Bn. in 2020 and expected to grow at a CAGR of 11.21 % during the forecast period (2021-2027). Thanks to the growing trend of tag segment use have boosted demand for Global Radiofrequency Identification (RFID) Market.

Radiofrequency Identification (RFID) Market Overview:

As the name itself suggests, in this process radio frequencies are used to identify an object, animals, and people. This wireless communication involves readers and tags, the reader emits and receives radio frequencies when tags come near to its proximity area. Different types of RFID systems are active low-frequency RFID systems, high-frequency RFID systems, UHF RFID systems, and microwave RFID systems. RFID is widely used in pet and livestock tracking, inventory management, vehicle tracking, and access control in security situations. Due to its increased efficiency, quality and saving time and money because of automation. As a result, the radiofrequency identification market is expected to reach US$ 20.66 Bn. by 2027. Radiofrequency Identification (RFID) Market To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2019 is considered a base year however 2020’s numbers are on the real output of the companies in the market. Special attention is given to 2020 and the effect of lockdown on the demand and supply, and also the impact of lockdown for the next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

Radiofrequency Identification (RFID) Market Dynamics:

Increasing installation of RFID in manufacturing sectors, development in IoT devices, and surge in artificial intelligence (AI) technologies are driving the market growth. RFID systems are widely used for tracking and inventory managing in large organizations due to increased theft of finished products like laptops and mobile in manufacturing firms. Increased utilization of RFID in the healthcare and pharmaceutical sector is fueling the RFID market growth. These are used for patient tracking, medical equipment tracking for asset maintenance, and real-time maintenance of devices in the healthcare industry. Increasing adoption of RFID by automakers and tire manufacturing sectors can boost market growth. Global tire manufacturing company MICHELIN with MURATA manufacturing, continuously using RAIN RFID technology in their tire production for tire tracking, inventory management, aftermarket maintenance, and recycling operation. And MICHELIN is expecting to make use of this technology in its 100% tire production by 2024. Increasing government regulations for animal husbandry and tracking of transportation are adding advantages to the market growth. Government of India imposing RFID technology in Indian railways. Because more than 23 Mn people travel through rail and its carries 3 Mn tons of freight every day. RFID technology helps the government by automatic and accurate tracking of rolling stocks as moving across countries. Growing adoption of RFID technology in logistics industries and supply chain risk management sector boosting the global market. Because it reduces manpower for locating items, reduces the time required for the scanning process, searches for lost items, and provides real-time visibility of goods. In 2015, “GSHI STEEl” a china based general steel holding company formed a joint venture with RFID experts like “Xindeco IoT” for the development of commercialized RFID technology data solutions. The development of BIO-based RFID tags by “ECO RFID Tag Technology” for securing the environment is creating a huge demand in the market. In January 2020, “Stora Enso Intelligent Packaging introduces” introduced RAIN RFID labels combined with ECO RFID Tag Technology and Impinj M700 series integrated circuit, which improved the assembly process efficiency of the firm. Some of the factors affecting the growth of the market are high chances of impact to signals by metals and liquids, failing to provide accurate results as compared to barcodes, high cost of the product due to developed technology, and are difficult to implementing and time-consuming

Radiofrequency Identification (RFID) Market Segmentation:

Based on Product Segment, The Radiofrequency Identification (RFID) market is sub-segmented into tags and readers. The tag segment dominates the global market and it held a share of 55 % in 2020. The tags play a major role in RFID systems and can store information from serial numbers to a short description. Increased utilization of tag in toll plaza, online market, BFSI sectors, and in-vehicle tracking applications creating a huge market for RFID systems. The presence of features like identifying and protecting assets, tracking objects and activity, and driving process improvement are adding more value to the RFID systems. Radiofrequency Identification (RFID) MarketBased on Tag Segment, the Radiofrequency Identification (RFID) market is sub-segmented into active tags and passive tags. The passive segment dominates the global market and was valued at US$ 3.1 Bn in 2020. The passive tags do not contain any internal power sources and work by electromagnetic energy transferred by readers. Because of low cost, small size, and high-performance passive tags are attracting a large number of industries globally. Many organizations are actively adopting passive tags for tracking files and materials to prevent document loss or misplacement. For example, QATAR public prosecution makes use of RFID technology because it generates 600 to 1000 files per day. Healthcare industry boosting the passive segment market growth because passive tags are helping to improve hospital safety and efficiency and they are more efficient inpatient tracking. Because of these applications, passive tag segment is growing positively in the global market.Radiofrequency Identification (RFID) MarketBased on Application Segment, the Radiofrequency Identification (RFID) market is sub-segmented into Transportation, Healthcare, and Logistics & Supply Chain Agriculture, Commercial. The logistics & supply chain segment dominates the market and it held a share of 50% in 2020. In logistics and supply chain RFID tags are attached to each product and readers are mounted on entry and exit of the warehouse to track and manage the goods. The growing retail sector, need for proper visibility of products, and identification of products is boosting the global market. Use of SHOCKWATCH RFID by manufacturers and distributers for detection of the damaged good while transportation expecting to boost the market. Because damaged products can make consumers lose trust in the brand and cause unnecessary expenses to organizations.

Radiofrequency Identification (RFID) Market regional insights:

In 2020, Asia-Pacific held the largest share in the Radiofrequency Identification (RFID) market. Increasing demand for high-quality finished products, expansion of manufacturing industries, presence of large transportation networks, and government regulations for safe tracking are creating a large market for the RFID in this region. In 2014, the Government of India under ‘Ministry of Road Transport and Highways (MoRTH)’ introduced “FASTags” for the collection toll without stopping the vehicles at toll plazas. These FASTags are coupled with RFID technology to safely deduct toll fees from the owners. In 2020, SOUTH DELHI MUNICIPAL CORPORATION (SDMC) proposed to install RFID technology in the collection of municipal taxes and environment compensation charges (ECC) in additional 10 locations. These initiatives are boosting the RFID technology in this region. In 2021, ZEBRA TECHNOLOGIES, a mobile computing company expecting to invest in the Asia Pacific region for the development of RFID and automation technology. And Chennai-based GEMINI COMMUNICATION LIMITED made an investment of 18 Cr for setting RFID tags manufacturing plant in Himachal Pradesh. These recent developments expecting to drive the market in this region North America is the second dominating region in the Radiofrequency Identification (RFID) market. The presence of larges automobiles manufacturing industries, the growing interest of the population in animal husbandry, increasing investment in technology, and the presence of major key players are driving the market growth in this region. The U.S. Department of Agriculture (USDA) has mandated the use of RFID technology in livestock management. Each tag consists of 15 digit tracking numbers to identify each animal. And United States Department of Transportation made RFID mandatory for the operation and intelligent tracking of vehicles. The objective of the report is to present a comprehensive analysis of the global Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Radiofrequency Identification (RFID) market dynamics, structure by analyzing the market segments and projecting the Radiofrequency Identification (RFID) market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Radiofrequency Identification (RFID) make the report investor’s guide.

Radiofrequency Identification (RFID) Market Scope: Inquiry Before Buying

Radiofrequency Identification (RFID) Market
Report Coverage Details
Base Year: 2020 Forecast Period: 2021-2027
Historical Data: 2016 to 2020 Market Size in 2020: US $  9.82 Bn.
Forecast Period 2021 to 2027 CAGR: 11.21 % Market Size in 2027: US $ 20.66 Bn.
Segments Covered: by Product • Tags • Readers
by Tag • Active Tags • Passive Tags
by Application • Agriculture • Commercial • Transportation • Healthcare • Logistics & Supply Chain

Radiofrequency Identification (RFID) Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Radiofrequency Identification (RFID) Market Key Players

• Alien Technology • Avery Dennison • Smatrac • Invengo • Checkpoint Systems • Mojix • GAO RFID • Nedap • Zebra Technologies • GlobeRanger • HID Global • Applied Wireless • CAEN RFID • Honeywell • Thing Magic • Identiv • SAG Frequently Asked Questions: 1. Which region has the largest share in Radiofrequency Identification (RFID) Market? Ans: Asia-Pacific held the largest share in 2020. 2. What is the growth rate of the Radiofrequency Identification (RFID) Market? Ans: The Radiofrequency Identification (RFID) Market is growing at a CAGR of 11.21 % during the forecasting period 2021-2027. 3. What segments are covered in Radiofrequency Identification (RFID) Market? Ans: Radiofrequency Identification (RFID) Market is segmented into type, component, and end-user. 4. Who are the key players in Radiofrequency Identification (RFID) Market? Ans: Alien Technology, Avery Dennison, Smatrac, Invengo, Checkpoint Systems, Mojix, GAO RFID, Nedap, Zebra Technologies, GlobeRanger, HID Global, Applied, Wireless, CAEN RFID, Honeywell, Thing Magic, Identiv, SAG 5. What is the study period of this market? Ans: The Radiofrequency Identification (RFID) Market is studied from 2020 to 2027.
1. Global Radiofrequency Identification (RFID) Market: Research Methodology 2. Global Radiofrequency Identification (RFID) Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Radiofrequency Identification (RFID) Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Radiofrequency Identification (RFID) Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12 COVID-19 Impact 4. Global Radiofrequency Identification (RFID) Market Segmentation 4.1 Global Radiofrequency Identification (RFID) Market, by Product (2020-2027) • Tags • Readers 4.2 Global Radiofrequency Identification (RFID) Market, by Tag (2020-2027) • Active Tags • Passive Tags 4.3 Global Radiofrequency Identification (RFID) Market, by Application (2020-2027) • Agriculture • Commercial • Transportation • Healthcare • Logistics & Supply Chain 5. North America Radiofrequency Identification (RFID) Market (2020-2027) 5.1 Global Radiofrequency Identification (RFID) Market, by Product (2020-2027) • Tags • Readers 5.2 Global Radiofrequency Identification (RFID) Market, by Tag (2020-2027) • Active Tags • Passive Tags 5.3 Global Radiofrequency Identification (RFID) Market, by Application (2020-2027) • Agriculture • Commercial • Transportation • Healthcare • Logistics & Supply Chain 5.4 North America Radiofrequency Identification (RFID) Market, by Country (2020-2027) • United States • Canada • Mexico 6. Asia Pacific Radiofrequency Identification (RFID) Market (2020-2027) 6.1. Asia Pacific Radiofrequency Identification (RFID) Market, by Product (2020-2027) 6.2. Asia Pacific Radiofrequency Identification (RFID) Market, by Tag (2020-2027) 6.3. Asia Pacific Radiofrequency Identification (RFID) Market, by Application (2020-2027) 6.4. Asia Pacific Radiofrequency Identification (RFID) Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 7. Middle East and Africa Radiofrequency Identification (RFID) Market (2020-2027) 7.1 Middle East and Africa Radiofrequency Identification (RFID) Market, by Product (2020-2027) 7.2. Middle East and Africa Radiofrequency Identification (RFID) Market, by Tag (2020-2027) 7.3. Middle East and Africa Radiofrequency Identification (RFID) Market, by Application (2020-2027) 7.4. Middle East and Africa Radiofrequency Identification (RFID) Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 8. Latin America Radiofrequency Identification (RFID) Market (2020-2027) 8.1. Latin America Radiofrequency Identification (RFID) Market, by Product (2020-2027) 8.2. Latin America Radiofrequency Identification (RFID) Market, by Tag (2020-2027) 8.3. Latin America Radiofrequency Identification (RFID) Market, by Application (2020-2027) 8.4. Latin America Radiofrequency Identification (RFID) Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 9. European Radiofrequency Identification (RFID) Market (2020-2027) 9.1. European Radiofrequency Identification (RFID) Market, by Product (2020-2027) 9.2. European Radiofrequency Identification (RFID) Market, by Tag (2020-2027) 9.3. European Radiofrequency Identification (RFID) Market, by Application (2020-2027) 9.4. European Radiofrequency Identification (RFID) Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 10. Company Profile: Key players 10.1. Alien Technology 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Avery Dennison 10.3 Smatrac 10.4 Invengo 10.5 Checkpoint Systems 10.6 Mojix 10.7 GAO RFID 10.8 Nedap 10.9 Zebra Technologies 10.10 GlobeRanger 10.11 HID Global 10.12 Applied Wireless 10.13 CAEN RFID 10.14 Honeywell 10.15 Thing Magic 10.16 Identiv 10.17 SAG

About This Report

Report ID 42614
Category Electronics
Published Date Dec 2019
Updated Date Dec 2021
Contact Us