RFID Market Report Size, Share | Industry Report (2020-2027)
RFID Market
The RFID Market is anticipated to expand at a significant CAGR over the forecast period (2020-2027).
The factors driving the growth of RFID Market includes
However, the growth of RFID Market is hindered due to increasing installations of Radio Frequency Identification (RFID) systems in Health and manufacturing industries, availability of economical RFID systems and growing adoption of smart manufacturing solutions around the world. According to the report published by Bloomberg, the Global Smart Manufacturing Market is predicted to reach USD 589.98 billion by the end of 2028, growing at a CAGR of 12.4% over the forecast period (2021-2028), which will boost the RFID Market Growth in the approaching years. Moreover, growing demand for hybrid RFID solutions, rising emphasis on security and management of assets in the automotive industry and integration of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), are some of the additional factors supplementing the RFID Market share. In addition, the improvements in the battery life of RFID devices, increasing application of RFID in Smart E-Vehicle charging systems, rapid urbanization and rising disposable incomes, are further propelling the RFID Market size.
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The leading players operating in the RFID Market includes NXP Semiconductors N.V., GAO Group, Honeywell International Inc., Avery Dennison Corporation, Alien Technology, LLC, Zebra Technologies Corporation, Fujitsu Group, RFID Global Solution, Variuscard GmbH, and Checkpoint Systems, Inc., among others.
Product – Segment Analysis
Based on Product, the RFID Middleware segment is projected to expand at a robust CAGR during the forecast period because it helps to manage the flow of data between the tag readers and enterprise applications.
Application – Segment Analysis
As per the RFID Market Research, the Retail segment is estimated to grow at a remarkable CAGR over the forecast period attributed to its increasing application in supply chain management, payment security and asset tracking.
Frequency – Segment Analysis
Based on Frequency, the Ultra-high Frequency is anticipated to expand at a steady CAGR during the forecast period owing to its increasing use in electronic toll collection and parking access control applications.
Regional – Segment Analysis
According to the RFID Market Analysis, the North American region is estimated to capture a sizeable market share over the forecast period. Rapid growth in the Automotive industry, technological advancement in RFID devices, presence of the leading players such as Honeywell International Inc. and Fujitsu Group and high per capita incomes, are augmenting the market growth in North America.
Market Segmentation
Global RFID Market by Product
RFID Tags
RFID Readers
Middleware
Global RFID Market by Type
Passive RFID
Active RFID
Global RFID Market by Frequency
Low Frequency
High Frequency
Ultra-high Frequency
Global RFID Market by Application
Retail
Financial Services
Healthcare
Industrial
Government
Transport & Logistics
Others
Global RFID Market by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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