The article discusses the global Radio Frequency Identification (RFID) market, revealing an estimated revenue in USD Billion in 2018, with a projected Compound Annual Growth Rate (CAGR) of 14.7% from 2018 to 2026. The market’s growth is attributed to the increasing demand for tracking, locating, and monitoring objects and individuals for safety, security, and resource optimization. The key driver is the need for efficient supply chain management, particularly in developing economies like the Middle East & Africa, China, South East Asia, and others in the Asia-Pacific region.
The RFID market comprises products such as RFID readers, RFID tags, and middleware, with frequencies categorized as low, high, and ultra-high frequency. Applications span various sectors, including retail, transport & logistics, government, industrial, healthcare, financial services, and others. The retail segment is anticipated to dominate the market by the end of the forecast period.
Major industry players contributing to the market include Alien Technology, Applied Wireless RFID, NXP Semiconductors, Avery Dennison, Securitas Assembly Group (SAG), GAO RFID, RFID4U, Mojix, Invengo, Checkpoint Systems, Tibco Software, Acreo Swedish, and Impinj.
The article provides comprehensive coverage, including market revenue estimation and forecast, revenue and sales breakdown, trend analysis, market dynamics, and a detailed analysis of market players. The segmentation encompasses products, frequencies, applications, and regions, with a regional outlook covering North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
In summary, the global RFID market is witnessing substantial growth, driven by the escalating demand for efficient supply chain management and the diverse applications of RFID technology across various industries. With a focus on key market players and detailed segmentation, the article provides valuable insights into the current and future trends in the RFID market.