RFID Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of RFID Market
The global RFID market size was valued at USD 14.11 billion in 2023, and the market is now projected to grow from USD 15.49 billion in 2024 to USD 37.71 billion by 2032, exhibiting a CAGR of 11.8% during the forecast period of 2023-2032.
In the COVID-19 pandemic, since the buyers progressively resorted to online shopping in order to ensure safely and convenience, this in turn accelerated the shift towards e-commerce. The sudden expansion in demand elevated the need for more and improved radio frequency identification devices in warehouses and fulfilment centers to manage inventory, ameliorate order accuracy, as also streamline the order fulfilment processes. All of this led to a significant rise in the RFID market growth.
Generative AI is the latest trend which is expected to increase the demand for RFID during the forecast period. Generative AI is expected to positively impact the market by effectively analyzing RFID data an extracting valuable insight benefitting the users of this data and thus, resulting in the surge of RFID market share globally.
Additionally, the integration of RFID technology with Internet of Things (IOT) and Industry 4.0 initiatives is driving extensive innovation in the radio frequency identification market. In various industries, RFID enabled sensors and devices are being installed for real time data collection, thus creating a smart, and interconnected ecosystem that improves visibility, automation, and also enables quick decision making.
Comprehensive Analysis of RFID Market
Globally, the RFID market is rising at a rapid rate due to its market segmentation. These market segmentations are further bifurcated into types of products, frequency analysis, industry analysis, and region. Due to resilience in harsh environments, tags segment led the market in product type segment. Owing to the growing need for high-speed data transfer capability, high frequency (3MHz-30MHz) segment has the largest share in the market. In industry analysis, retail segment dominated the market share in 2023, due to the surge in demand for optimized supply chain operation.
The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period (2024 - 2032). RFID generation is extensively used for asset tracking, production supervision, and delivery chain optimization. Asia Pacific being the global hub for manufacturing and logistics operations, has a widespread call for RFID technology.
The key player companies in the RFID industry are strategically focusing on partnerships, acquisitions and mergers with the regional companies to sustain their market share and dominance. Furthermore, these companies are increasing their geographical presence by catering to the industry-specific need of their customers. These companies include, Zebra Technologies Corp. (U.S.), GAO Group (Canada), Impinj, Inc. (U.S.), Dipole RFID (Spain), HID Global (U.S.), Laird Technologies (U.S.), Allflex (Australia), Invengo Information Technology Co. Ltd. (China), NXP Semiconductor (Netherlands), Avery Dennison Corporation (U.S.).
In March 2024, Galaxy Entertainment Group and Melco Resorts are drafting to roll out RFID technology-enabled tablets for casinos to restrain frauds, manage inventory and keep tabs on its players.
Segmentation Table
Global RFID Market Scope
Study Period 2019-2032
Base Year 2023
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 11.8% from 2024-2032
Unit Value (USD Billion)
Segmentation By Product Type, By Frequency, By Industry, By Region
By Product Type Tag
Readers
Software and Services
By Frequency
Low Frequency (30kHz – 300kHz)
High Frequency (3MHz – 30MHz)
Ultra-High Frequency (300MHz – 3GHz)
By Industry Agriculture & Forestry
Healthcare
Manufacturing
Retail
Transportation & Logistics
Others (Defense, Media & Entertainment)
By Region North America (By Product Type, Frequency, Industry and Country)
- U.S. (Product Type)
- Canada (Product Type)
- Mexico (Product Type)
South America (By Product Type, Frequency, Industry and Country)
- Brazil (Product Type)
- Argentina (Product Type)
- Rest of South America
Europe (By Product Type, Frequency, Industry and Country)
- U.K. (Product Type)
- Germany (Product Type)
- France (Product Type)
- Italy (Product Type)
- Spain (Product Type)
- Russia (Product Type)
- Benelux (Product Type)
- Nordics (Product Type)
- Rest of Europe
Middle East & Africa (By Product Type, Frequency, Industry and Country)
- Turkey (Product Type)
- Israel (Product Type)
- GCC (Product Type)
- North Africa (Product Type)
- South Africa (Product Type)
- Rest of Middle East & Africa
Asia Pacific (By Product Type, Frequency, Industry and Country)
- China (Product Type)
- India (Product Type)
- Japan (Product Type)
- South Korea (Product Type)
- ASEAN (Product Type)
- Oceania (Product Type)
- Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of Generative AI
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Global RFID Key Players Market Share/Ranking, 2023
- 5. Global RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 5.1. Key Findings
- 5.2. By Product Type (USD)
- 5.2.1. Tag
- 5.2.2. Readers
- 5.2.3. Software & Services
- 5.3. By Frequency (USD)
- 5.3.1. Low Frequency (30kHz - 300kHz)
- 5.3.2. High Frequency (3MHz - 30MHz)
- 5.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 5.4. By Industry (USD)
- 5.4.1. Agriculture & Forestry
- 5.4.2. Healthcare
- 5.4.3. Manufacturing
- 5.4.4. Retail
- 5.4.5. Transportation & Logistics
- 5.4.6. Others (Defense, Media & Entertainment, etc.)
- 5.5. By Region (USD)
- 5.5.1. North America
- 5.5.2. South America
- 5.5.3. Europe
- 5.5.4. Middle East & Africa
- 5.5.5. Asia Pacific
- 6. North America RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 6.1. Key Findings
- 6.2. By Product Type (USD)
- 6.2.1. Tag
- 6.2.2. Readers
- 6.2.3. Software & Services
- 6.3. By Frequency (USD)
- 6.3.1. Low Frequency (30kHz - 300kHz)
- 6.3.2. High Frequency (3MHz - 30MHz)
- 6.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 6.4. By Industry (USD)
- 6.4.1. Agriculture & Forestry
- 6.4.2. Healthcare
- 6.4.3. Manufacturing
- 6.4.4. Retail
- 6.4.5. Transportation & Logistics
- 6.4.6. Others (Defense, Media & Entertainment, etc.)
- 6.5. By Country (USD)
- 6.5.1. United States
- 6.5.1.1. By Product Type
- 6.5.2. Canada
- 6.5.2.1. By Product Type
- 6.5.3. Mexico
- 6.5.3.1. By Product Type
- 7. South America RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 7.1. Key Findings
- 7.2. By Product Type (USD)
- 7.2.1. Tag
- 7.2.2. Readers
- 7.2.3. Software & Services
- 7.3. By Frequency (USD)
- 7.3.1. Low Frequency (30kHz - 300kHz)
- 7.3.2. High Frequency (3MHz - 30MHz)
- 7.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 7.4. By Industry (USD)
- 7.4.1. Agriculture & Forestry
- 7.4.2. Healthcare
- 7.4.3. Manufacturing
- 7.4.4. Retail
- 7.4.5. Transportation & Logistics
- 7.4.6. Others (Defense, Media & Entertainment, etc.)
- 7.5. By Country (USD)
- 7.5.1. Brazil
- 7.5.1.1. By Product Type
- 7.5.2. Argentina
- 7.5.2.1. By Product Type
- 7.5.3. Rest of South America
- 8. Europe RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 8.1. Key Findings
- 8.2. By Product Type (USD)
- 8.2.1. Tag
- 8.2.2. Readers
- 8.2.3. Software & Services
- 8.3. By Frequency (USD)
- 8.3.1. Low Frequency (30kHz - 300kHz)
- 8.3.2. High Frequency (3MHz - 30MHz)
- 8.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 8.4. By Industry (USD)
- 8.4.1. Agriculture & Forestry
- 8.4.2. Healthcare
- 8.4.3. Manufacturing
- 8.4.4. Retail
- 8.4.5. Transportation & Logistics
- 8.4.6. Others (Defense, Media & Entertainment, etc.)
- 8.5. By Country (USD)
- 8.5.1. United Kingdom
- 8.5.1.1. By Product Type
- 8.5.2. Germany
- 8.5.2.1. By Product Type
- 8.5.3. France
- 8.5.3.1. By Product Type
- 8.5.4. Italy
- 8.5.4.1. By Product Type
- 8.5.5. Spain
- 8.5.5.1. By Product Type
- 8.5.6. Russia
- 8.5.6.1. By Product Type
- 8.5.7. Benelux
- 8.5.7.1. By Product Type
- 8.5.8. Nordics
- 8.5.8.1. By Product Type
- 8.5.9. Rest of Europe
- 9. Middle East & Africa RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 9.1. Key Findings
- 9.2. By Product Type (USD)
- 9.2.1. Tag
- 9.2.2. Readers
- 9.2.3. Software & Services
- 9.3. By Frequency (USD)
- 9.3.1. Low Frequency (30kHz - 300kHz)
- 9.3.2. High Frequency (3MHz - 30MHz)
- 9.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 9.4. By Industry (USD)
- 9.4.1. Agriculture & Forestry
- 9.4.2. Healthcare
- 9.4.3. Manufacturing
- 9.4.4. Retail
- 9.4.5. Transportation & Logistics
- 9.4.6. Others (Defense, Media & Entertainment, etc.)
- 9.5. By Country (USD)
- 9.5.1. Turkey
- 9.5.1.1. By Product Type
- 9.5.2. Israel
- 9.5.2.1. By Product Type
- 9.5.3. GCC
- 9.5.3.1. By Product Type
- 9.5.4. North Africa
- 9.5.4.1. By Product Type
- 9.5.5. South Africa
- 9.5.5.1. By Product Type
- 9.5.6. Rest of MEA
- 10. Asia Pacific RFID Market Size Estimates and Forecasts, By Segments, 2019-2032
- 10.1. Key Findings
- 10.2. By Product Type (USD)
- 10.2.1. Tag
- 10.2.2. Readers
- 10.2.3. Software & Services
- 10.3. By Frequency (USD)
- 10.3.1. Low Frequency (30kHz - 300kHz)
- 10.3.2. High Frequency (3MHz - 30MHz)
- 10.3.3. Ultra-High Frequency (300MHz - 3GHz)
- 10.4. By Industry (USD)
- 10.4.1. Agriculture & Forestry
- 10.4.2. Healthcare
- 10.4.3. Manufacturing
- 10.4.4. Retail
- 10.4.5. Transportation & Logistics
- 10.4.6. Others (Defense, Media & Entertainment, etc.)
- 10.5. By Country (USD)
- 10.5.1. China
- 10.5.1.1. By Product Type
- 10.5.2. India
- 10.5.2.1. By Product Type
- 10.5.3. Japan
- 10.5.3.1. By Product Type
- 10.5.4. South Korea
- 10.5.4.1. By Product Type
- 10.5.5. ASEAN
- 10.5.5.1. By Product Type
- 10.5.6. Oceania
- 10.5.6.1. By Product Type
- 10.5.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Zebra Technologies Corp.
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. GAO Group
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Impinj, Inc.
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. Dipole RFID
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. HID Global
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Laird Technologies
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. Allflex
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Invengo Information Technology Co. Ltd.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. NXP Semiconductor
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Avery Dennison Corporation
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
- 12. Key Takeaways
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