RFID Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global RFID Market size is projected to reach a CAGR of 10.9% from USD 10.7 billion in 2021, during the forecast to 2028.
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RFID referred to as Radio Frequency Identification is a technology, that uses radio waves to read and gather the information stored on a tag attached to an object, animal, or human. It is similar to bar codes and yet, it does not require to be within the range of an RFID reader. RFID is used across construction, engineering, chemical industries, manufacturing, retail, logistics, and the public sector among others.
Growing market competitiveness leading to availability of cost-effective RFID solutions, high returns on investment, increasing regulations and government initiatives for various industries, and increasing installation of RFID systems in manufacturing units are some of the factors that have supported long-term expansion for RFID Market.
Regional Analysis
Americas is expected to register largest market share in terms of value for RFID tag market globally during the forecast period. The high adoption of RFID systems in the US is a major factor that has led to the prominent position of the Americas in the RFID market.
Key Players
· Checkpoint Systems
· Invengo
· Smatrac
· Avery Dennison
· Alien Technology
· NXP Semiconductors
· Impinj
· Mojix
· Nedap
· Zebra Technologies and More
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Recent Developments
In September 2020, Avery Dennison introduced the AD-332u8 RAIN RFID inlay that excels in high density, close proximity conditions and can be used for inventory accuracy (item-level tagging) and supply chain management. AD-332u8 inlays are equipped with UCODE 8 chips from NXP, featuring 128 bits of EPC memory and a 96-bit Tag IDentifier (TID) with a 48-bit unique serial number factory-encoded into the TID. The new RAIN RFID inlay measures 70 x 14.5mm—the market’s smallest product that meets ARC category H specifications.
In September 2020, Avery Dennison launched its dual-technology AD-362r6-P inlay that combines item-level tracking and digital ID capabilities of a high-performance RAIN RFID (UHF) tag. This tag is suitable for a wide range of retail apparel products and applications with the secondary loss prevention functionality of an EAS tag. AD-362r6-P inlays are a unique dual-technology design incorporating a UHF RFID inlay and an electronic article surveillance (EAS) tag in a single die-cut label.
RFID Market is segmented into product type, wafer size, tag type, frequency, application, form factor, material and region.
On the basis of Product Type
· Tags
· Readers
· Software and Services
On the basis of Wafer Size
· 8 inches
· Others
On the basis of Tag Type
· Active tags
· Passive tags
On the basis of Frequency
· Low Frequency
· High Frequency
· Ultra-high Frequency (UHF)
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In addition to the market data for RFID Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement.
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