The Radio Frequency Identification (RFID) Market is expected to grow from USD 9.4 billion in 2020 to USD 17.4 billion by 2026 at a CAGR of 10.2% from 2020 to 2026.
The technology for conveying data from an electronic tag using radio waves is called as RFID. The term RFID is the abbreviation of Radio Frequency Identification. It is primarily an electronic label or tag affixed with the products, this electronic tag is capable of being read through a reader in order to track or identify the product. Over the past few years this industry has enhanced its standards by eliminating majority of the technological glitches which has led to make this industry potential of catering the interoperable requirements. Decrease in the cost of the radio frequency identification hardware and the rising adoption in the grocery stores/supermarkets is projected to spur the radio frequency identification market growth in the forecast period. Rising awareness of RFID tags in several industries is expected to enhance the market share size. The increasing number of products and the incorporation of advanced technology to increase the efficiency and productivity in the retail sector are the key drivers of the market. In addition, the rising smart stores are accelerating the radio frequency identification market growth. Rising usage of RFID tags in the supply management of the food and beverage sector is fueling the demand for the radio frequency identification systems in the market. Increasing development of the universal scanners to scan the microchips is further improving its popularity among several industries which is estimated to expand its market share size. RFID tags enable the accessibility of the information from the microchip if the compatible reader is used for it. Besides The RFID tags require to be frequently updated to increase the reliability of the whole system which can limit the market growth.
Furthermore, various businesses and offices globally have resumed their operations after the COVID-19-induced lockdowns were lifted. Anyhow, governments have mandated such companies to maintain social distancing and less number of employees. If the rules are not followed, a single case of COVID-19 can possibly lead to the shutdown of complete facility and need decontamination before restarting the operations. To prevent such a situation, large companies are undertaking several precautionary measures, along with contact-tracing solutions. To capitalize on the rising need for contact-tracing solutions, various RFID solutions providers have been launching new products or improving existing products to suit the requirements of their customers during the COVID-19 pandemic which is key opportunity for the market.
The global Radio Frequency Identification (RFID) Market is segregated on the basis of Product Type as Tags, Readers and Software and Services. Based on Tag Type the global Radio Frequency Identification (RFID) Market is segmented in Active Tags and Passive Tags. Based on Application the global Radio Frequency Identification (RFID) Market is segmented in Animal Tracking/Agriculture, Commercial, Transportation, Logistics and Supply Chain, Retail and Others.
The global Radio Frequency Identification (RFID) Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Radio Frequency Identification (RFID) Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Impinj, NXP Semiconductors, Alien Technology, Avery Dennison, Smatrac and others are among the major players in the global Radio Frequency Identification (RFID) Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Radio Frequency Identification (RFID) Market has been segmented as below:
Radio Frequency Identification (RFID) Market, By Product Type
Radio Frequency Identification (RFID) Market, By Tag Type
Radio Frequency Identification (RFID) Market, By Application
Radio Frequency Identification (RFID) Market, By Region
Radio Frequency Identification (RFID) Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Radio Frequency Identification (RFID) Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Radio Frequency Identification (RFID) Market share. Major industry players with significant revenue share include Impinj, NXP Semiconductors, Alien Technology, Avery Dennison, Smatrac and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Radio Frequency Identification (RFID) Market, By Product Type
5.1. Key Points
5.2. Tags
5.3. Readers
5.4. Software and Services
6. Radio Frequency Identification (RFID) Market, By Tag Type
6.1. Key Points
6.2. Active Tags
6.3. Passive Tags
7. Radio Frequency Identification (RFID) Market, By Application
7.1. Key Points
7.2. Animal Tracking/Agriculture
7.3. Commercial
7.4. Transportation
7.5. Logistics and Supply Chain
7.6. Retail
7.7. Others
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Radio Frequency Identification (RFID) Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Impinj
9.2. NXP Semiconductors
9.3. Alien Technology
9.4. Avery Dennison
9.5. Smatrac
9.6. Invengo
9.7. Checkpoint Systems
9.8. Mojix
9.9. GAO RFID
9.10. Nedap
9.11. Zebra Technologies
9.12. GlobeRanger
9.13. HID Global
9.14. Applied Wireless
9.15. CAEN RFID
9.16. Honeywell
9.17. Thing Magic
9.18. Identiv
9.19. SAG
9.20. Omni-ID
9.21. Vizinex RFID
9.22. Savi Technology
Radio Frequency Identification (RFID) Market, By Product Type
Radio Frequency Identification (RFID) Market, By Tag Type
Radio Frequency Identification (RFID) Market, By Application
Radio Frequency Identification (RFID) Market, By Company