Global RFID for Healthcare, Commercial Aviation, Semiconductor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global RFID for Healthcare, Commercial Aviation, Semiconductor Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

The full name of RFID is Radio Frequency Identification. It is a non-contact two-way data communication through radio frequency and uses radio frequency to read and write recording media (electronic tags or radio frequency cards), to achieve the purpose of identifying targets and data exchange. The basic working principle of RFID: After the tag enters the reader, it receives the radio frequency signal sent by the reader and sends out the product information stored in the chip by the energy obtained by the induced current, or the tag actively sends a signal of a specific frequency, the reader After the information is read and decoded, it is sent to the central information system for relevant data processing. RFID is considered one of the most potential information technologies in the 21st century.

Market Overview:

The latest research study on the global RFID for Healthcare, Commercial Aviation, Semiconductor market finds that the global RFID for Healthcare, Commercial Aviation, Semiconductor market reached a value of USD 2747.01 million in 2022. It’s expected that the market will achieve USD 7909.89 million by 2028, exhibiting a CAGR of 19.28% during the forecast period.

Increasing Demand for RFID Systems in the Healthcare Industry

RFID technology is expected to witness strong growth in the healthcare sector shortly. Inventory management in pharmacies, hospitals, and biotechnology companies, along with improved patient safety by healthcare providers are some of the significant factors driving the growth of the RFID market. Furthermore, the adoption of automated processes in pharmacies and hospitals along with the high efficiency and low cost of RFID systems is driving the market demand. Increasing not-for-profit R&D efforts and employing strategies such as expansion, mergers, and partnerships to create advanced technologies to support RFID in healthcare are helping the market to grow further. Integrating RFID into pharmaceuticals can help improve patient safety by enabling more accurate drug tracking and verification throughout the supply chain and reducing error rates to virtually zero. Furthermore, it eliminates the need for costly, and more importantly, in the current scenario, labor-intensive in-house drug labeling, reducing the heavy burden on hospital staff. RFID can be used to itemize and sort hospital and pharmacy inventory to ensure quality and reduce waste. Because of its life-saving potential, the advantages go beyond the return on investment. That's why industry players are creating a range of premium products, such as tamper-evident RFID tags and light-emitting labels, that provide vital information to pharmacies, hospitals, and patients. These essential RFID-enabled solutions reduce costs, increase accuracy, and simplify operations while preventing the counterfeiting of pharmaceutical brands. Due to the outbreak of COVID-19, hospitals have been utilizing RFID technology to better manage patients and staff during the pandemic. RFID tools, which use wireless communications to identify and track assets and equipment, have seen widespread adoption in healthcare. As public health emergencies continue to unfold, RFID increases the efficiency and accountability of care teams. Increasing adoption of RFID systems in the healthcare industry to improve work efficiency is expected to drive market growth over the forecast period.

Increasing Demand for RFID Systems in Commercial Aviation

In commercial aviation, the benefits of RFID go beyond barcode technology. Barcodes require light to transmit and receive data, while RFID uses radio waves to transmit data to and from RFID tags. The specific function of these radio waves is that they pass through objects, around objects, inside, under, and behind objects to reach tags. RFID technology can also look at hundreds of tags per second, so it appears to be collecting data in an instant. Increasing the adoption of RFID systems in the commercial aviation sector to increase work efficiency is expected to drive market growth over the forecast period.

Increasing demand for RFID systems in the semiconductor industry

In the semiconductor industry, to maximize productivity, new and revamped fabs are moving to state-of-the-art semiconductor manufacturing processes that rely on 300mm wafers. These wafers need to be kept in a FOUP (Front Opening Unified Pod). RFID technology was chosen as the standard method for FOUP identification in the semiconductor industry due to its robustness. RFID technology reduces constraints in machine design and enables more compact and efficient automation in semiconductor manufacturing. Increasing adoption of RFID systems in the semiconductor industry to improve work efficiency is expected to drive market growth over the forecast period.

Region Overview:

In 2022, the share of the RFID for Healthcare, Commercial Aviation, Semiconductor market in United States stood at 33.15%.

Company Overview:

HID Global is one of the major players operating in the RFID for Healthcare, Commercial Aviation, Semiconductor market, holding a share of 6.021% in 2023.

Segmentation Overview:

As for product types, the Tags segment held the largest market share in 2022.

Application Overview:

By application, the Healthcare segment occupied the biggest share from 2018 to 2022.

Key Companies in the global RFID for Healthcare, Commercial Aviation, Semiconductor market covered in Chapter 3:

Murata
Honeywell
Applied Wireless RFID
CENTURY
Nedap
Roper Technologies, Inc
Mojix
NXP Semiconductors
HID Global
Avery Dennison
Omnicell, Inc.
Alien Technology
GAO RFID
Invengo
Datalogic SpA
Zebra Technologies
Globeranger
Checkpoint Systems
Caen RFID
Impinj

In Chapter 4 and Chapter 14.2, on the basis of types, the RFID for Healthcare, Commercial Aviation, Semiconductor market from 2018 to 2029 is primarily split into:

Tags
Reader
Software

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the RFID for Healthcare, Commercial Aviation, Semiconductor market from 2018 to 2029 covers:

Healthcare
Commercial Aviation
Semiconductor

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)