Press release
RFID Market Set for Explosive Growth: Projected to Reach Nearly USD 41.21 Billion by 2032
Radio Recurrence Distinguishing proof (RFID) alludes to a remote framework comprised of two components: labels and perusers. The peruser could be a gadget that has one or more radio wires that transmit radio waves and get signals back from the RFID tag.
Supply chain administration and coordination's make widespread utilization of RFID innovation. Sensor-based RFID innovation is being progressively coordinates into item bundling to track and follow the root of the item and anticipate any source of defilement or altering inside the supply chain.
The global RFID Market was valued at USD 15.85 Billion in 2023 and is likely to reach USD 41.21 Billion by 2032, increasing at a CAGR of 11.2% from 2024 to 2032.
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The RFID Market is segmented into based on by Offerings, By Wafer Size, By Frequency, By Form, By Material, By Application and region. By Offerings (Tags, Readers, Software & Services), By Wafer Size (8inch, 12inch and other Wafer Sizes), By Frequency (Low Frequency, High Frequency, Ultra-High Frequency), By Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band, Other Form Factors), By Material (Plastic, Paper, Glass), By Application (Agriculture, Commercial, Transportation, Healthcare, Logistics, Food, Security& Access Control, Automotive and Others), By region, it is analyzed across North America (U.S.; Canada; Mexico), Eastern Europe (Bulgaria; The Czech Republic; Hungary; Poland; Romania; Rest of Eastern Europe), Western Europe (Germany; UK; France; Netherlands; Italy; Russia; Spain; Rest of Western Europe), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).
Market Dynamics and Factors:
The RFID market is experiencing significant growth due to several key dynamics. Increasing adoption in retail and logistics sectors is a major driver, as businesses leverage RFID technology for improved inventory management, reduced shrinkage, and enhanced supply chain visibility. The logistics and supply chain sectors, in particular, benefit from RFID through better tracking of goods, which minimizes losses and increases operational efficiency. Technological advancements, including the development of passive and active RFID tags, are expanding the range of applications. Additionally, the integration of RFID with the Internet of Things (IoT) and advancements in cloud computing are enhancing its capabilities, making it a more attractive solution across various industries. These factors collectively contribute to the robust growth of the RFID market.
RFID Market Trend Analysis
RFID Facilitates Seamless Integration with Automation and The Internet of Things (Iot)
• RFID empowers programmed and real-time information capture concerning labelled objects or resources, counting points of interest like area, status, temperature, and other significant measurements. This upgrades resource perceivability all through different forms, helping in way better decision-making and operational effectiveness. RFID consistently coordinating into IoT stages, acting as a significant information source among interconnected gadgets and sensors. By combining RFID information with IoT stages, businesses get comprehensive bits of knowledge into operations, permitting for optimized forms and educated decision-making. RFID encourages handle mechanization by activating activities or workflows based on predefined rules or occasions.
• For occasion, RFID perusers naturally distinguish labelled things entering or clearing out particular zones, provoking activities such as stock upgrades, arrange fulfilment, or alarms for potential issues, in this way streamlining operations. In supply chain administration, RFID guarantees end-to-end perceivability of products as they navigate different stages. By coordination RFID information with IoT stages and supply chain administration frameworks, businesses optimize stock levels, streamline coordination's, minimize blunders, and upgrade conveyance precision, eventually progressing supply chain proficiency.
Key Industry Developments in the Market:
In Sep 2023 - The AD Pure range launches with AD Belt U9 Pure loads and labels ideal for global apparel, retail, industrial and supply chain applications. They are compact in size and offer excellent performance with hard-to-detect or low-profile materials such as cardboard and plastic.
In March 2023 - Invengo brought and presented various new generation products at EuroShop, such as UHF readers, tags, security gates and antennas, as well as ATID palm readers, which showed their advanced technology in the RFID industry. Invego also presented to visitors' cases of RFID applications in smart stores, manufacturing, logistics and warehouses. Unlimited and open communication with guests has brought a new, intelligent and rewarding experience for everyone.
Market Top Key Players:
• Alien Technology (United States)
• Avery Dennison Corporation (United States)
• CCL Industries Inc. (Canada)
• Checkpoint Systems, Inc. (United States)
• Datalogic S.p.A. (Italy)
• HID Global Corporation (United States)
• Honeywell International Inc. (United States)
• Impinj, Inc. (United States)
• Invengo Technology Pte. Ltd. (Singapore)
• NXP Semiconductors N.V. (Netherlands)
• Omron Corporation (Japan)
• SATO Holdings Corporation (Japan)
• Secura Key (United States)
• SMARTRAC N.V. (Netherlands)
• Zebra Technologies Corporation (United States)
• Toshiba Corporation (Japan)
• Fujitsu Limited (Japan)
• Mojix, Inc. (United States)
• RFID Global Solution, Inc. (United States)
• GlobeRanger Corporation (United States)
• Gao RFID Inc. (Canada)
• Coresonant Systems Pvt. Ltd. (India)
• Thinkify ApS (Denmark)
• CAEN RFID S.r.l. (Italy)
• Jadak - A Novanta Company (United States)
• CipherLab Co., Ltd. (Taiwan)
• SmarTek Systems, Inc. (United States)
• Axcess International, Inc. (United States)
• Identiv, Inc. (United States)
• CCL Design Electronics (United States) and Other Major Players.
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Market Regional Insights:
Asia Pacific Region is Expected to Dominate the Market Over the Forecast Period
The Asia Pacific locale is expected to hold a significant share of the showcase and is anticipated to witness noteworthy development over the figure period. The quickly expanding execution and investigate work within the field of computerization and a critical extension of industry 4.0 have been driving the demand for RFID arrangements within the region. The region's development has been altogether driven by the expanding establishment of these RFID frameworks in fabricating units in order to move forward efficiency. The developing acknowledgment of electronic personality cards and RFID tags that are found in shrewd cards is additionally acting as a driver for the development of the RFID advertise within the locale.
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