Radio Frequency Identification Technology Market Size [2031]

Segments - Radio Frequency Identification Technology Market by Applications (Financial Services, Retail, Healthcare, Transportation & Logistics, Industrial, Government, and Others), Products (RFID Readers, RFID Tags, and Middleware), Frequency (Ultra-high Frequency, Low Frequency, and High Frequency), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global radio frequency identification technology market size is anticipated to expand at a high CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the rising demand for devices for tracking, locating, and monitoring objects safety and resource optimization.

radio frequency identification technology market key takeaways

Radio frequency identification (RFID) is a type of passive wireless technology that can identify or track a targeted item or an individual using radio wave devices. For the system, two elements are used called readers and tags. The RFID reader works as the main component that releases radio waves to connect or activate tag using its transmission signal. After receiving the signal, the tags or transponders that attached in the RFID tags responds and send back the information to the computing network. In short, RFID is a retrieval system and data storage that uses devices called transponders, tags, or RFID tags. The technology is widely applied for commercial applications especially in the transport and logistic industry and the main purpose of RFID technology is to track and identity an object having a unique serial number or digitally coded in RFID tags.

Market Trends, Drivers, Restraints, and Opportunities

Increasing importance of capitalizing on these radio frequency, technologies, and identification devices providing real-time location systems is a key factor driving the market.
Integration of high-level sensor networks and high access to the Internet of Things by commercial retail companies are main driver of the market.
Rising popularity of printed tags and semi-passive tracking system for various secured monitoring of industrial and government projects are projected to boost the market in the coming years.
Complex regulations towards the standardization of products and problems associated with frequency bands act as major restraining factors of the market.
Diminishing costs of unsettled related to production over the value chains, reader vendors, and the tag result in exhibiting a greater cost-to-volume. This are crucial factors offering lucrative opportunities for market expansion.

Scope of the Report

The report on the global radio frequency identification technology market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Radio Frequency Identification Technology Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2020
Historic Data	2018–2019
Forecast Period	2021–2028
Segmentation	Applications (Financial Services, Retail, Healthcare, Transportation & Logistics, Industrial, Government, and Others), Products (RFID Readers, RFID Tags, and Middleware), and Frequency (Ultra-high Frequency, Low Frequency, and High Frequency)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Smartrac; Alien Technologies; Honeywell International; NXP Semiconductors; and Zebra Technologies

Market Segment Insights

Government segment is expected to grow at a rapid pace

Based on applications, the global radio frequency identification technology market is divided into financial services, retail, healthcare, transportation & logistics, industrial, government, and others. The government segment is expected to grow at a rapid pace during the forecast period owing to extensive use of RFID technology for managing and securing the activities related to government departments. However, the healthcare sector segment is anticipated to hold a key share of the market in the coming years due to massive integration of advanced tracking devices in the healthcare industry to ensure easy management of data and information.

RFID readers segment is projected to expand at a considerable CAGR

On the basis of products, the market is bifurcated into RFID readers, RFID tags, and middleware. The RFID reader segment is projected to expand at a considerable CAGR during the forecast period owing to effective structure of command accuracy on computing devices. On the other hand, the middleware segment is anticipated to account for a major market share during the forecast period due to high requirement of the analysis regarding real-time situation and easy linked among platforms and devices such as IoT and wearables.

High frequency segment is projected to grow significantly

Based on frequency, the global radio frequency identification technology market is segregated into ultra-high frequency, low frequency, and high frequency. The high frequency segment is projected to grow significantly during the forecast period owing to certain advantages such as high compatibility for activities such as inventory listing and management of various pharmaceutical products.

Asia Pacific is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to fast rate of RFID technology across industries such as healthcare and logistics. Moreover, the rising R&D programs for technology development from emerging economies including China and India further boosts the regional market expansion. However, the market of North America is anticipated to expand at a rapid pace during the forecast period due to the presence of many OEMs and manufacturers in the region.

Segments

The global radio frequency identification technology market has been segmented on the basis of

Applications

Financial Services
Retail
Healthcare
Transportation & Logistics
Industrial
Government
Others

Products

RFID Readers
RFID Tags
Middleware

Frequency

Ultra-high Frequency
Low Frequency
High Frequency

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Smartrac
Alien Technologies
Honeywell International
NXP Semiconductors
Zebra Technologies

Competitive Landscape

Key players competing in the global radio frequency identification technology market are Smartrac; Alien Technologies; Honeywell International; NXP Semiconductors; and Zebra Technologies. In 2016, Qualcomm player worked primarily towards the acquisition of NXP Semiconductors to control of microchip and diversify the semiconductors operation in the smartphone sector.

radio frequency identification technology market by key players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Radio Frequency Identification Technology Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Radio Frequency Identification Technology Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Radio Frequency Identification Technology Market - Supply Chain
  4.5. Global Radio Frequency Identification Technology Market Forecast
     4.5.1. Radio Frequency Identification Technology Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Radio Frequency Identification Technology Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Radio Frequency Identification Technology Market Absolute $ Opportunity
5. Global Radio Frequency Identification Technology Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     5.3.1. Financial Services
     5.3.2. Retail
     5.3.3. Healthcare
     5.3.4. Transportation & Logistics
     5.3.5. Industrial
     5.3.6. Government
     5.3.7. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Radio Frequency Identification Technology Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Radio Frequency Identification Technology Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
7. North America Radio Frequency Identification Technology Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Radio Frequency Identification Technology Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     7.4.1. Financial Services
     7.4.2. Retail
     7.4.3. Healthcare
     7.4.4. Transportation & Logistics
     7.4.5. Industrial
     7.4.6. Government
     7.4.7. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
8. Latin America Radio Frequency Identification Technology Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Radio Frequency Identification Technology Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     8.4.1. Financial Services
     8.4.2. Retail
     8.4.3. Healthcare
     8.4.4. Transportation & Logistics
     8.4.5. Industrial
     8.4.6. Government
     8.4.7. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
9. Europe Radio Frequency Identification Technology Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Radio Frequency Identification Technology Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     9.4.1. Financial Services
     9.4.2. Retail
     9.4.3. Healthcare
     9.4.4. Transportation & Logistics
     9.4.5. Industrial
     9.4.6. Government
     9.4.7. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
10. Asia Pacific Radio Frequency Identification Technology Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Radio Frequency Identification Technology Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     10.4.1. Financial Services
     10.4.2. Retail
     10.4.3. Healthcare
     10.4.4. Transportation & Logistics
     10.4.5. Industrial
     10.4.6. Government
     10.4.7. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
11. Middle East & Africa Radio Frequency Identification Technology Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Radio Frequency Identification Technology Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Radio Frequency Identification Technology Market Size and Volume Forecast by Applications
     11.4.1. Financial Services
     11.4.2. Retail
     11.4.3. Healthcare
     11.4.4. Transportation & Logistics
     11.4.5. Industrial
     11.4.6. Government
     11.4.7. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Radio Frequency Identification Technology Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Radio Frequency Identification Technology Market: Market Share Analysis
  12.2. Radio Frequency Identification Technology Distributors and Customers
  12.3. Radio Frequency Identification Technology Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Smartrac
     12.4.2. Alien Technologies
     12.4.3. Honeywell International
     12.4.4. NXP Semiconductors
     12.4.5. Zebra Technologies