Dublin, Nov. 27, 2024 (GLOBE NEWSWIRE) -- The "RFID Market Global Forecast Report by Type, Product, Frequency, End Use, Countries and Company Analysis 2025-2033" report has been added to ResearchAndMarkets.com's offering.
The Global RFID Market will reach US$ 46.07 billion by 2033, up from US$ 16.90 billion in 2024, with a CAGR of 11.79% between 2025 and 2033
The growing demand for efficient asset and inventory management across various industries is driving the RFID market; as a result, businesses using RFID technology see increased operational efficiency and lower expenses associated with human error. RFID technology adoption is driven by international markets' adherence to norms and rules in order to maintain compliance and trace systems.
Expanding Uses across Different End-Use
The growing number of RFID applications in different industries is one of the major development factors propelling the market. Because of RFID's special capacity to automate procedures, increase visibility, and boost productivity, industries including retail, logistics, healthcare, manufacturing, and automotive are adopting the technology at an increasing rate.
Additionally, RFID is utilized in retail to control inventory, which improves the shopping experience while lowering theft and stockouts. It streamlines operations and lowers costs in supply chain management and logistics by enabling real-time tracking of commodities. RFID ensures safety and lowers human error in healthcare by being utilized for drug verification, equipment management, and patient tracking. RFID helps manufacturing with production line monitoring, quality assurance, and asset management. RFID use is growing as more sectors realize its benefits, which include improved accuracy, speed, and data insights. This is driving market expansion across a variety of end-use applications.
Growth of the Internet of Things (IoT)
One major factor propelling the RFID market's growth is the development of the Internet of Things (IoT). The demand for smooth communication between physical things and digital systems is growing as IoT devices spread throughout sectors, and RFID technology is essential to this ecosystem. RFID makes it possible for things to be automatically identified and tracked in real time, which enables IoT devices to collect precise data without the need for human intervention.
More effective supply chain management, asset tracking, inventory control, and predictive maintenance are made possible by the combination of RFID and IoT. RFID tags on goods or assets, for instance, allow IoT sensors to exchange data in smart warehouses, improving inventory levels and lowering stockouts. RFID is becoming crucial for offering the real-time, data-driven capabilities needed for contemporary smart environments as IoT applications expand in industries including manufacturing, shipping, healthcare, and retail. The RFID industry is expanding as a result of the IoT and RFID working together to speed up the adoption of both technologies.
Technological advancements boosts the market growth
Since technological developments continuously improve the functionality, efficacy, and affordability of RFID systems, they are a major growth driver for the RFID industry. Smaller, stronger tags with greater reading ranges are examples of RFID hardware innovations that are expanding the technology's applicability. Developments in low-power RFID tags, especially passive ones, have decreased operating costs and increased battery life. Additionally, even in difficult environments, read accuracy, speed, and range have grown due to advancements in RFID readers and antennas.
The integration of RFID with other state-of-the-art technologies, such as cloud computing, the Internet of Things (IoT), and artificial intelligence (AI), has further expanded its potential by enabling real-time data analytics and intelligent decision-making. These technical developments increase RFID's scalability, dependability, and utility across a range of sectors, such as manufacturing, logistics, retail, and healthcare, which promotes its broad acceptance and helps the industry expand quickly.
In May 2023, In addition to ATID's handheld readers, which showcased its cutting-edge RFID technology, Invengo brought and displayed a range of new-generation goods at EuroShop, including UHF readers, tags, security gates, and antennas. Visitors were also shown RFID application cases in manufacturing, logistics, smart retail, and warehouses by Invengo. Open and honest communication with the guests had given everyone a fresh, insightful, and fulfilling experience.
RFID Market Overview by Regions
The RFID market is expanding globally, with North America setting the pace for technical adoption, Europe focusing on regulatory compliance, and Asia-Pacific experiencing robust growth due to increased industrial and logistics demands. Emerging markets in the Latin America and Middle East are also gaining popularity. The following provides a market overview by region:
United States RFID Market
The RFID market in the US is expanding rapidly due to technological breakthroughs and broad industry use in sectors like manufacturing, logistics, retail, and healthcare. Through precise stock tracking and anti-theft measures, RFID is boosting inventory management and consumer experiences in retail. RFID is used in the logistics industry for real-time tracking, which lowers supply chain inefficiencies. RFID enhances drug management, asset tracking, and patient safety in the healthcare industry. Further RFID usage is also fueled by the growing need for automation and the development of the Internet of Things (IoT). Government programs and legal regulations, particularly in the pharmaceutical and healthcare industries, can accelerate market expansion.
Furthermore, Leading companies in the U.S. are at the forefront of these changes, developing and expanding RFID applications to ensure ongoing technological advancements and market progress. For instance, in September 2023, the international corporation Avery Dennison, with headquarters in Ohio, has unveiled its new AD Pure line of inlays and tags, which are completely free of PET plastic. AD Belt U9 Pure inlays and tags, which are perfect for worldwide fashion, retail, industry, and supply-chain applications, are the first products in the AD Pure range.
India RFID Market
The growing use of automation and digital technologies in industries like retail, logistics, manufacturing, and healthcare is propelling the RFID market's notable expansion in India. RFID is being utilized in retail to improve consumer experiences, optimize the supply chain, and control inventory. RFID is being used by the transportation and logistics sectors to improve operational efficiency and track shipments in real time. RFID is being used in healthcare to help with drug verification, asset management, and patient tracking. RFID use is also being accelerated by the Indian government's push for smart cities and digitization, as well as regulatory requirements in industries like pharmaceuticals.
Further driving the market's expansion are technological developments, falling RFID prices, and rising consumer knowledge of the advantages of RFID, which has made India a quickly increasing participant in the global RFID scene. For instance, in August 2023, to encourage EV adoption in India, Tata Power has come up with the creative idea of introducing radio-frequency identity cards for EV charging. Tata Power hopes to increase the number of EV charging stations in the nation with the introduction of this card.
United Kingdom RFID Market
The growing need for automation, supply chain efficiency, and improved security across a range of industries is driving the UK's RFID market's steady expansion. Logistics firms employ RFID for effective fleet management and real-time tracking, while retailers utilize it for inventory control and anti-theft measures. RFID is enhancing asset monitoring and patient safety in the healthcare industry. RFID is being increasingly widely used as a result of cost savings and technological improvements. RFID's expansion in the UK is being further accelerated by government initiatives supporting smart technology and regulatory compliance in sectors like pharmaceuticals.
Saudi Arabia RFID Market
Saudi Arabia's RFID market is growing quickly because to the growing need for automation and digital transformation in sectors including manufacturing, logistics, retail, and healthcare. RFID is being utilized in retail to manage inventory and enhance consumer experiences, while logistics organizations are implementing RFID to track assets and run an efficient supply chain. RFID is being used in the healthcare industry for equipment management, prescription tracking, and patient safety. RFID usage is also being aided by government programs like Vision 2030, which concentrate on smart city efforts and technology growth. The RFID market in Saudi Arabia is still developing as expenses come down and knowledge rises.
Company Analysis
- Avery Dennison Corp.
- Datalogic SpA
- HID Global Corp.
- Honeywell International Inc.
- Impinj, Inc.
- Invengo Information Technology Co., Ltd.
- Nordic ID
- NXP Semiconductors
- Unitech Electronics Co., Ltd.
- Overview
- Key Persons
- Recent Development & Strategies
- Product Portfolio
- Financial Insights
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $16.9 Billion |
| Forecasted Market Value (USD) by 2033 | $46.07 Billion |
| Compound Annual Growth Rate | 11.7% |
| Regions Covered | Global |
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global RFID Market
6. Market Share Analysis
6.1 Type
6.2 Product
6.3 Frequency
6.4 End Use
6.5 Country
7. Type
7.1 Active RFID
7.2 Passive RFID
8. Product
8.1 Tags
8.2 Readers
8.3 Antennas
8.4 Others
9. Frequency
9.1 Low Frequency
9.2 High Frequency
9.3 Ultra-High Frequency
10. End Use
10.1 Retail
10.2 Financial Services
10.3 Healthcare
10.4 Industrial
10.5 Transportation & Logistics
10.6 Government
10.7 Others
11. Country
11.1 North America
11.1.1 United States
11.1.2 Canada
11.2 Europe
11.2.1 France
11.2.2 Germany
11.2.3 Italy
11.2.4 Spain
11.2.5 United Kingdom
11.2.6 Belgium
11.2.7 Netherlands
11.2.8 Turkey
11.3 Asia Pacific
11.3.1 China
11.3.2 Japan
11.3.3 India
11.3.4 Australia
11.3.5 South Korea
11.3.6 Thailand
11.3.7 Malaysia
11.3.8 Indonesia
11.3.9 New Zealand
11.4 Latin America
11.4.1 Brazil
11.4.2 Mexico
11.4.3 Argentina
11.5 Middle East & Africa
11.5.1 South Africa
11.5.2 Saudi Arabia
11.5.3 UAE
12. Porter's Five Analysis
12.1 Bargaining Power of Buyers
12.2 Bargaining Power of Suppliers
12.3 Degree of Rivalry
12.4 Threat of New Entrants
12.5 Threat of Substitutes
13. SWOT Analysis
13.1 Strength
13.2 Weakness
13.3 Opportunity
13.4 Threat
For more information about this report visit https://www.researchandmarkets.com/r/1008n7
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