RFID Market Overview and Trends Forecast: Research Report

RFID Market Overview

The global RFID Market size is projected to reach a CAGR of 10.9% from USD 10.7 billion in 2021, during the forecast period 2021-2028.

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.

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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.

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.

RFID Market Competitive Landscape

Key Players

• Checkpoint Systems
• Invengo
• Smatrac
• Avery Dennison
• Alien Technology
• NXP Semiconductors
• Impinj
• Mojix
• Nedap
• Zebra Technologies

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RFID Market 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.

Reasons to Acquire in the RFID Market

• Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
• Gain authentic and granular data access for RFID Market so as to understand the trends and the factors involved behind changing market situations
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns

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Frequently Asked Questions

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