As per this study the Global RFID Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2027 with a CAGR of XX%.
Radio-frequency identification (RFID) refers to the wireless communication technology where the electromagnetic coupling is used to transmit a signal via radio waves. It typically includes three components: scanning antenna, transceiver, and transponder. RFID possess excellent ability to read outside the line-of-sight and thus is used across retail, aerospace, logistics, agriculture, healthcare, and other industries.
The market is growing at a tremendous scale owing to rapid adoption across healthcare, defense, aerospace, automotive, retail and other end-user industries. Rising demand for livestock tracking, asset and inventory management, vehicle and supply chain tracking is boosting the market growth. Rapid adoption followed by the installation of RFIDs in production units to enhance productivity is further contributing immensely in the market growth. Also, the rising need for real-time monitoring and improving process efficiency is further fostering market growth. However, issues associated with security, privacy, and device interoperability may hinder market growth.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter’s five forces analysis, market attractiveness analysis, and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of RFID.
The broad RFID market has been sub-grouped into component and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
- RFID Tags
- RFID Readers
- RFID Software And Middleware
- Logistics & Transportation
- Aerospace & Defense
- Retail & Consumer Goods
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for RFID in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global RFID Market Share by Region (Representative Graph)
The report also covers a detailed competitive landscape including company profiles of key players operating in the global market. The key players in the RFID market include Alien Technology, GAO RFID Inc., HID Global Corporation, Impinj, Inc., Invengo Information Technology Co., Ltd., Molex Inc., Omni-ID, Ltd., Thin Film Electronics ASA, Xerox Corporation and Zebra Technologies Corporation among others. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.