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Radio Frequency Identification (RFID) Technology - Global Market Trajectory & Analytics

  • ID: 338452
  • Report
  • February 2022
  • Region: Global
  • 719 Pages
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Alien Technology, LLC
  • CAEN RFID S.r.l.
  • CCL Industries Inc.
  • Denso Wave Incorporated
  • GAO RFID Inc.
  • Globeranger Corporation

Global RFID Technology Market to Reach $57.2 Billion by 2026


Radio frequency identification (RFID) is an advanced technology that involves the use of compact radio tags, which are capable of establishing communication with a networked device referred to as a reader. Radio tags are equipped with a transponder and a digital memory chip, and usually vary in terms of price, size and functionality. Demand for RFID technology, including tags, readers and software, is set to be driven by expanding applications of the technology in various industries. Retail has emerged as one of the major end-use sectors over the years, with applications in merchandize and apparel leading demand with apparel and specialty merchandize being tagged with RFID tags. Retail applications will continue to dominate the global RFID tag market with major retailers announcing large-scale RFID tag projects for their merchandize.

Amid the COVID-19 crisis, the global market for Radio Frequency Identification (RFID) Technology estimated at US$27.1 Billion in the year 2020, is projected to reach a revised size of US$57.2 Billion by 2026, growing at a CAGR of 13.3% over the analysis period. Tags, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$33.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Readers segment is readjusted to a revised 11.3% CAGR for the next 7-year period.



The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $13.9 Billion by 2026


The Radio Frequency Identification (RFID) Technology market in the U.S. is estimated at US$8.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$13.9 Billion by the year 2026 trailing a CAGR of 16.8% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.1% and 12.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 11.8% CAGR. Future growth in the market will be guided by the sheer magnitude of potential applications of RFID, such as, in baggage handling, contactless ticketing, asset management, contactless payments, electronic identification documents, product tracking in the retail industry, and in real time location identification systems, among others. Amidst the ongoing financial uncertainty, there will be increased focus on technologies that help improve operational efficiency, reduce costs, and provide competitive differentiation. This readjustment of investment priorities and renewed focus on long-term cost savings and benefits will bring out RFID technology as the greatest beneficiary, especially in the enterprise consumer segment.

RFID Software Segment to Reach $8.6 Billion by 2026


RFID software solution is the key enabler of RFID systems allowing tags and readers to be deployed in a range of applications. The software is designed to enable the system store and manage RFID tag data and integrate the same with other systems. RFID software can be used to customize RFID systems for application specific needs and add new functionalities to the systems as per the client needs and business practices. In the global RFID Software segment, USA, Canada, Japan, China and Europe will drive the 13.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3.1 Billion in the year 2020 will reach a projected size of US$7.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.3 Billion by the year 2026, while Latin America will expand at a 14.2% CAGR through the analysis period.

Select Competitors (Total 180 Featured) -

  • Alien Technology, LLC
  • Applied Wireless IDentifications Group, Inc.
  • CAEN RFID S.r.l.
  • CCL Industries Inc.
  • Denso Wave Incorporated
  • GAO RFID Inc.
  • 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
Frequently Asked Questions about the Global Market for Radio Frequency Identification (RFID) Technology

What is the estimated value of the Global Market for Radio Frequency Identification (RFID) Technology?

The Global Market for Radio Frequency Identification (RFID) Technology was estimated to be valued at $27.1 Billion in 2020.

What is the growth rate of the Global Market for Radio Frequency Identification (RFID) Technology?

The growth rate of the Global Market for Radio Frequency Identification (RFID) Technology is 13.3%, with an estimated value of $57.2 Billion by 2026.

What is the forecasted size of the Global Market for Radio Frequency Identification (RFID) Technology?

The Global Market for Radio Frequency Identification (RFID) Technology is estimated to be worth $57.2 Billion by 2026.

Who are the key companies in the Global Market for Radio Frequency Identification (RFID) Technology?

Key companies in the Global Market for Radio Frequency Identification (RFID) Technology include Alien Technology, LLC, Applied Wireless IDentifications Group, Inc., CAEN RFID S.r.l., CCL Industries Inc., Denso Wave Incorporated, GAO RFID Inc., Globeranger Corporation, Honeywell International Inc. and JADAK, a Novanta Company.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Alien Technology, LLC
  • CAEN RFID S.r.l.
  • CCL Industries Inc.
  • Denso Wave Incorporated
  • GAO RFID Inc.
  • Globeranger Corporation

I. METHODOLOGY


II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of COVID-19 Pandemic and a Looming Global Recession
  • Role of RFID Solutions in Improving Safety During the COVID-19 Pandemic
  • RFID Technology Helps Tackle Infection Outbreaks
  • RFID Technology Usage Holds Importance Amidst the Ongoing COVID-19 Pandemic
  • Effective Cold Storage of COVID Vaccines with RFID Chips
  • Weak Global Economic Environment & Negative Tide in GDP Forecasts Discourage the Market
  • World Economic Growth Projections (Real GDP, Annual % Change) for 2019, 2020 & 2021
  • An Introduction to Radio Frequency Identification (RFID) Technology
  • Functioning of RFID System
  • RFID Technology Components
  • Key End-Use Applications of RFID Technology
  • RFID Tags Vs Bar Codes
  • RFID Technology: Using Radio Waves to Identify & Capture Information About Asset
  • Global Market Prospects & Outlook
  • RFID Tags Emerge as the Largest Revenue Contributor
  • RFID Readers Market Poised for Stable Growth
  • Developed Regions Lead, Developing Markets to Turbocharge Future Growth
  • Competition
  • World Brands
  • Recent Market Activity
  • Radio Frequency Identification (RFID) Technology - Global Key Competitors Percentage Market Share in 2022 (E)
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Supply Chain Management Emerges as a Key Application of RFID in Different End-Use Industries
  • RFID Technology Revolutionizes Inventory Management
  • Source Tagging to Improve Supply Chain Transparency
  • Blockchain and NFC-RFID Technologies Lead to Smarter Supply Chains
  • Passenger Transportation & Automobile Applications to Drive Long-term Growth
  • Rising Investments in Intelligent Transport Systems: A Business Case for RFID Solutions
  • Sheer Increase in Vehicular Population to Propel Investments into ITS, Presenting Opportunities for RFID Technology: Number of Vehicles in Millions for Years 2015, 2025 & 2040
  • Rising Prominence of ITS in Reducing Accidents to Fuel RFID Demand: Rise in Number of Deaths Caused by Road Accidents Worldwide by Region for the Years 2017 & 2030
  • Growth of ETC Projects to Boost Demand for RFID Technology
  • Electronic Toll Collection (ETC) Market by Technology (in %) in North America for 2020E
  • Security and Access Applications Present Considerable Growth Opportunities for RFID Technology
  • NFC-RFID Technology Adoption Rises for Electronic Identification and Authentication
  • Widespread Deployment of RFID Technology in Logistics Industry
  • Increasing Adoption of RFID Tags in Retail Application to Drive Strong Growth
  • Growing Role of Retail E-Commerce Platforms Enhances Significance of RFID Technology
  • COVID-19 Driven Rise in E-Commerce Sales Benefit Functional Apparel Market: Global Retail E-Commerce Website Traffic in Average Monthly Visits (in Billions) for Jun-2019 to Jun-2020
  • Strict Laws Mandating Tagging of Livestock and Pets to Drive Growth in RFID Market
  • Adoption of RFID Technology in Manufacturing Units Continues to Grow
  • Automotive Manufacturing Takes Early Lead in Adoption of RFID Technology
  • Healthcare & Pharmaceutical Sector Emerges as a High Growth Market
  • Significant Capabilities and Advantages of RFID Technology Continues to Boost Adoption
  • Major Application Areas of RFID in Healthcare Facilities
  • Tracking Technologies Gradually Gain Adoption in the Healthcare Sector
  • RFID Based Sample Transport System Facilitates Tracking
  • Focus on Pharmaceutical Drug Counterfeiting Propels Use of RFID Technology
  • Global Number of Pharmaceutical Counterfeiting Incidents for Years 2000, 2005, 2010, 2015, 2019 & 2022
  • Most Widely Counterfeited Pharmaceuticals Worldwide: Percentage Share of Value of Fake Drugs Seized
  • Item Level Tagging: A Market with Huge Potential Fuels Research
  • Food & Beverage Industry Turns to RFID Technology to Improve Efficiency
  • Number of Food Allergen Recalls in the US: Breakdown by FDA-Regulated Foods and FSIS-Regulated Foods for 2019
  • Number of Food Recalls in the US: Breakdown by Class I Recalls and Class II & III Recalls for 2014-2019
  • Need to Avoid Food Waste Turns Focus onto RFID Technology: Percentage Breakdown of Food Waste by Source
  • RFID and IoT: Critical Technologies Enabling Smart Airport Architecture
  • RFID Technology Playing a Vital Role in Reducing Baggage Mishandling Rates
  • Growing Role of RFID Technology in Reducing Baggage Mishandling: Percentage Breakdown of Delayed Bags by Reason for 2019
  • Expanding Role of IoT and Wearables and Widening Use of Smart Devices & Applications to Influence Market Growth
  • Global Number of IoT Connected Devices (In Billion) for the Years 2016, 2018, 2020, 2022 & 2025
  • Hospitality Sector: RFID Sector Emerges as a Promising Technology
  • Global Hotels and Hospitality Market: Growth Outlook (In %) For Years 2019 Through 2025
  • Active RFID to Make RTLS More Reliable and Cost-Effective
  • Technology Developments Boost Prospects for RFID Technology Market
  • Emerging RFID Applications to Fight COVID-19 Pandemic
  • Key Challenges Confronting RFID Technology Market

4. GLOBAL MARKET PERSPECTIVE


III. MARKET ANALYSIS

UNITED STATES

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2022 (E)
  • Market Overview
  • Growing Use in Vehicles Drives the US RFID Tags Market

CANADA

JAPAN

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2022 (E)

CHINA

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2022 (E)
  • Market Overview

EUROPE

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2022 (E)

FRANCE

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2022 (E)

GERMANY

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2022 (E)

ITALY

UNITED KINGDOM

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2022 (E)

SPAIN


RUSSIA


REST OF EUROPE

ASIA-PACIFIC

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2022 (E)
  • Market Overview

AUSTRALIA

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2022 (E)

INDIA

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2022 (E)

SOUTH KOREA


REST OF ASIA-PACIFIC

LATIN AMERICA

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2022 (E)

ARGENTINA


BRAZIL


MEXICO


REST OF LATIN AMERICA

MIDDLE EAST

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2022 (E)

IRAN


ISRAEL


SAUDI ARABIA


UNITED ARAB EMIRATES


REST OF MIDDLE EAST

AFRICA

  • Radio Frequency Identification (RFID) Technology Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2022 (E)

IV. COMPETITION

  • Total Companies Profiled: 180
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Alien Technology, LLC
  • Applied Wireless IDentifications Group, Inc.
  • CAEN RFID S.r.l.
  • CCL Industries Inc.
  • Denso Wave Incorporated
  • GAO RFID Inc.
  • 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
Note: Product cover images may vary from those shown