The RFID investment opportunities in Asia Pacific market size was USD 4.49 Billion in 2022 and is likely to reach USD 8.04 Billion by 2031, expanding at a CAGR of 6.68% during 2023–2031. The growth of the market is attributed to rising demand for solutions that can automatically identify and capture data.
Radio frequency identification (RFID) is a technology that utilizes radio waves to gather computerized information contained in RFID chip or smart labels. Further, RFID tags are equipped with an integrated circuit and an antenna designed to communicate information to the RFID reader.
A RFID reader conveys a sign to a RFID tag, which transmits with an information-carrying signal. Additionally, the information gained by readers from the RFID tags are subsequently sent to a host computer system through a communications interface, where it can be saved in a data set and evaluated later.
Market Trends, Drivers, Restraints and Opportunities
Rising demand for RFID tags for traffic management is estimated to drive the market growth during the forecast period.
Growing demand for installation of RFID systems in manufacturing units to improve productivity is expected to fuel the market growth.
Rapid adoption of technological advancements in the field of healthcare is one of the major factors driving the market growth.
High maintenance cost can hamper the market growth in the coming years.
Ongoing developments for contact-tracing solution can create lucrative opportunities during the forecast period.
Scope of Asia Pacific RFID Investment Opportunities Market Report
The report on the RFID investment opportunities in Asia Pacific market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
RFID-Investment Opportunities Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (RFID Tags, Readers, Printers, Antennas, RFID Software, and Middleware Services) and Applications (Retail & Consumer Goods, Asset Tracking, Banking and Finance, Automotive, Manufacturing, Healthcare & Medical, and Others)
India, China, South Korea, Japan, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Tsinghua Tongflag Co. Ltd.; Ripro Corporation; Perfect Corporation Chilitag Technology; Yodobashi Camera Co. Ltd.; Lynstan Engineering; Ceylon Technology; ThingMagic, EMW Co. Ltd.; Perfect RFID, and Rasilant Technologies
RFID Investment Opportunities in Asia Pacific Market Segment Insights
RFID tags segment is anticipated to constitute a key market share
On the basis of product types, the market is segregated into RFID tags, readers, printers, antennas, RFID software, and middleware services. The RFID tags segment is projected to expand at a considerable CAGR during the forecast period.
The ease of use for tracing any type of asset is anticipated to constitute a key market share during the forecast period. RFID tags are used through wireless non-contact radio frequency waves that help in transferring data to the RFID readers.
Healthcare & medical segment is estimated to account for a significant market share
Based on applications, the RFID investment opportunities in Asia Pacific market is divided into retail & consumer goods, asset tracking, banking and finance, automotive, manufacturing, healthcare & medical, and others.
The healthcare & medical segment is estimated to account for a significant market share during the forecast period owing to rising investments in improving patient care. The ability of RFID Solutions to help healthcare organizations check the spread of COVID-19 is propelling the market segment growth.
Japan is anticipated to account a major market share
In terms of regions, the market is classified as India, China, South Korea, Japan, and Rest of Asia Pacific. Japan is expected to constitute a key share of the market during the projected period. Increasing penetration of IoT is driving the market growth in the region. The markets in India and China is anticipated to expand at a high CAGR during the forecast period.
The RFID investment opportunities in Asia Pacific market has been segmented on the basis of
- RFID Tags
- RFID Software and Middleware Services
- Retail & Consumer Goods
- Asset Tracking
- Banking and Finance
- Healthcare & Medical
- South Korea
- Rest of Asia Pacific
- Tsinghua Tongflag Co. Ltd.
- Ripro Corporation.
- Perfect Corporation Chilitag Technology
- Yodobashi Camera Co. Ltd.
- Lynstan Engineering
- Ceylon Technology
- ThingMagic, EMW Co. Ltd.
- Perfect RFID
- Rasilant Technologies
Key players competing in the Asia Pacific RFID investment opportunities in Asia Pacific market is Tsinghua Tongflag Co. Ltd.; Ripro Corporation; Perfect Corporation Chilitag Technology; Yodobashi Camera Co. Ltd.; Lynstan Engineering; Ceylon Technology; ThingMagic, EMW Co. Ltd.; Perfect RFID; and Rasilant Technologies.