Market Insights:
The global RFID (Radio Frequency Identification) Technology Market was valued at USD 11.3 Bn in 2021 and is anticipated to grow at a CAGR of 10.4% and is expected to reach USD 27.6 Bn by 2030.
Driver:
The increased adoption of RFID (Radio Frequency Identification) Technology in the Next Generation industry is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for RFID (Radio Frequency Identification) Technology also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of RFID (Radio Frequency Identification) Technology in many sectors also boosts the market growth during the forecast period.
Radio frequency identification (RFID) is a technique that employs radio frequency electrostatic or electromagnetic fields. When things with tags get close to a reader, the technology aids in recognising them. RFID allows for automated item identification in shipping and receiving applications, as well as on mixed pallets.
RFID (Radio Frequency Identification) Technology Market Research Report” was just released by Market Research Community. It is divided into several categories, including By Product (RFID Readers, RFID Tags , Middleware), By Frequency (Low Frequency, High Frequency, Ultra-high frequency), By End Use (Industrial, Transportation, Retail, Consumer Package Goods, Healthcare, Education), and companies (Globeranger Corporation, Honeywell International Inc., Impinj, Inc.,JADAK, a Novanta Company, Invengo Technology Pte. Ltd., Mojix Inc.,Nedap N.V.,Smartrac N.V.,Zebra Technologies Corporation, Alien Technology, LLC, Applied Wireless IDentifications Group, Inc.,CAEN RFID S.r.l.,CCL Industries Inc.,Denso Wave Incorporated,GAO RFID Inc.), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 10.4%, over the forecast period of 2022–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2018-2030 |
| Market Size in 2030 (USD Billion) | 27.6 Billion |
| CAGR (2022-2030) | 10.4% |
| By Product | RFID Readers, RFID Tags , Middleware |
| By Frequency | Low Frequency, High Frequency, Ultra-high frequency. |
| By End Use | Industrial, Transportation, Retail, Consumer Package Goods, Healthcare, Education. |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Globeranger Corporation,Honeywell International Inc.,Impinj, Inc.,JADAK, a Novanta Company,Invengo Technology Pte. Ltd.,Mojix Inc.,Nedap N.V.,Smartrac N.V.,Zebra Technologies Corporation, Alien Technology, LLC,Applied Wireless IDentifications Group, Inc.,CAEN RFID S.r.l.,CCL Industries Inc.,Denso Wave Incorporated,GAO RFID Inc. |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the RFID (Radio Frequency Identification) Technology market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Globeranger Corporation,Honeywell International Inc.,Impinj, Inc.,JADAK, a Novanta Company,Invengo Technology Pte. Ltd.,Mojix Inc.,Nedap N.V.,Smartrac N.V.,Zebra Technologies Corporation, Alien Technology, LLC,Applied Wireless IDentifications Group, Inc.,CAEN RFID S.r.l.,CCL Industries Inc.,Denso Wave Incorporated,GAO RFID Inc.
Market Segment Analysis:
Product
- RFID Tags
- RFID Readers
- Middleware
By Frequency
- Low Frequency
- High Frequency
- Ultra-high frequency
By End-User
- Industrial
- Transportation
- Retail
- Consumer Package Goods
- Healthcare
- Education
- Others
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2021, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of RFID (Radio Frequency Identification) Technology industries in the region.
Key RFID (Radio Frequency Identification) Technology Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global RFID (Radio Frequency Identification) Technology Market segments.
– Largest Market Share Held by Industry to Industry for RFID (Radio Frequency Identification) Technology
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the RFID (Radio Frequency Identification) Technology Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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