The global Radio Frequency Identification (RFID) market is poised for significant growth from 2024 to 2028, with an expected increase of USD 14.20 billion and a CAGR of 12.83%. This growth is driven by factors such as increased adoption of inventory management systems, utilization of RFID solutions in cloud middleware, and expanded implementation of RFID in e-commerce.
The market is segmented by product type (RFID tags, middleware, passive RFID systems, active RFID systems, and end-user industries (industrial, retail, BFSI, logistics, healthcare, and others). Geographically, it covers North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa.
Key drivers include the growing use of RFID in data center management, the rise of smart retail stores integrating RFID technology, and technological advancements enhancing RFID applications.
The report offers a comprehensive analysis, encompassing size, forecast, trends, growth drivers, challenges, and vendor analysis of around 25 prominent vendors including Alien Technology LLC, GAO RFID Inc., ASSA ABLOY AB, Avery Dennison Corp., CipherLab Co. Ltd., Honeywell International Inc., Impinj Inc., NXP Semiconductors NV, Zebra Technologies Corp., among others.
Utilizing both primary and secondary data sources, the report ensures reliability and comprehensiveness. It assists companies in enhancing their market position by providing insights into upcoming trends and challenges, enabling effective strategizing and capitalization on growth opportunities.
The report offers valuable insights for stakeholders to make informed decisions and remain competitive in the evolving RFID market landscape.