Radio Frequency Identification (RFID) Market size to grow by USD 10,456.94 million at a CAGR of 10.9% by 2027; The adoption of inventory management systems to boost market growth - Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The radio frequency identification (RFID) market size is estimated to increase by USD 10,456.94 million from 2022 to 2027, at a CAGR of 10.9%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

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Radiofrequency Identification (RFID) Market 2023-2027: Vendor Analysis and Scope

The radio frequency identification (RFID) market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Alien Technology LLC, Avery Dennison Corp., CipherLab Co. Ltd., CoreRFID Ltd., Datalogic Spa, eAgile Inc., FEIG ELECTRONIC GmbH, Fujitsu Ltd., GAO RFID Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., Nedap NV, NXP Semiconductors NV, RFID4U, SATO Holdings Corp., Siemens AG, Unitech Computer Co. Ltd., Zebra Technologies Corp., and ASSA ABLOY AB.

Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Radio frequency identification (RFID) Market Download Sample Report

Radio frequency identification (RFID) market - Segmentation

The market is segmented by end-user (industrial, retail, BFSI, logistics, healthcare, and others), and product (RFID tags, middleware, passive RFID systems, and active RFID systems)

The market share growth by the industrial segment will be significant for the market growth during the forecast period. RFID technology is used in the industrial sector for supply chain management and inventory management. Both passive and active RFID tags are used in the industrial sector. These tags are only used in specialized applications.

Furthermore, the technology allows industrial end-users to follow inventory that has become blocked at various stages of production or assembly and gain a better understanding of inventory management. Hence, it is expected that the industrial segment in the radio frequency identification market will grow due to the increasing applications of RFID in the industrial processes during the forecast period.

Geographical Overview

The market is segmented by region North America, APAC, Europe, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• North America is estimated to account for 40% of the growth of the global market during the forecast period. This growth in the region is due to the increased adoption of ideas like smart factories. Moreover, countries like Mexico and Canada are increasing their investments in developing transportation infrastructure to facilitate the expansion of their domestic industries. Hence, these factors are anticipated to propel the growth of the regional RFID market during the forecast period.

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Radio frequency identification (RFID) Market - Market Dynamics

Key Drivers

The adoption of inventory management systems notably drives market growth. Manual management of equipment or product databases in sectors such as industrial and retail was prone to errors and inaccuracies and consumed a significant amount of time. However, the implementation of RFID tags allows for more accurate recording and identification of the product database. Furthermore, RFID tags enable end users to rectify data entry errors more effectively. With the introduction of RFID tags, manufacturers, vendors, and other end-users have found major improvements in overall data entry. Therefore, these factors will fuel the radio frequency identification market growth during the forecast period.

Major Trends

The growing interest in smart retail stores is an emerging trend influencing the market. Smart retailers use RFID technology to streamline product delivery to customers and improve their browsing experience. Companies such as Walmart Inc. and Amazon.com Inc. have successfully implemented RFID innovations into their daily business operations, outperforming traditional retail establishments. For example, Vivo Smart Retail was launched in India in May 2020 to help retailers in meeting smartphone demand through its smart retail chains. As a result, the rise of smart retail establishments that include RFID technology is expected to boost the growth of the RFID market during the forecast period.

Significant Challenges

The high deployment cost of active RFID systems is a major challenge hindering market growth. RFID solutions are priced differently based on the type of reader and tag used. Inventory tracking passive RFID tags, for example, is the least expensive automation solution. Passive inventory management tags typically cost USD 0.21. Passive tags, on the other hand, are ineffective for most uses. Active tags are widely utilized in these cases because they can read the frequency over a wider range. However, installing active RFID systems is costly. As a result, the adoption of active RFID systems is slowing, which will hamper the growth of the global RFID market during the forecast period.

What are the key data covered in this Radio Frequency Identification (RFID) Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the radio frequency identification (RFID) market between 2023 and 2027
• Precise estimation of the size of the radio frequency identification (RFID) market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the radio frequency identification (RFID) market across North America, APAC, Europe, South America, and the Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of radio frequency identification (RFID) market vendors.

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Radio Frequency Identification (RFID) market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global Radio Frequency Identification (RFID) market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Product Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Industrial - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Industrial - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

• 6.4 Retail - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Retail - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Retail - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Retail - Year-over-year growth 2022-2027 (%)

• 6.5 BFSI - Market size and forecast 2022-2027 
• Exhibit 42: Chart on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on BFSI - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on BFSI - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on BFSI - Year-over-year growth 2022-2027 (%)

• 6.6 Logistics - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Logistics - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Logistics - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Logistics - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Logistics - Year-over-year growth 2022-2027 (%)

• 6.7 Healthcare and others - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Healthcare and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Healthcare and others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Healthcare and others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Healthcare and others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)
• Exhibit 55: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 56: Chart on Product - Market share 2022-2027 (%)
• Exhibit 57: Data Table on Product - Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 58: Chart on Comparison by Product
• Exhibit 59: Data Table on Comparison by Product

• 7.3 RFID tags - Market size and forecast 2022-2027 
• Exhibit 60: Chart on RFID tags - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on RFID tags - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on RFID tags - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on RFID tags - Year-over-year growth 2022-2027 (%)

• 7.4 Middleware - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Middleware - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Middleware - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Middleware - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Middleware - Year-over-year growth 2022-2027 (%)

• 7.5 Passive RFID systems - Market size and forecast 2022-2027 
• Exhibit 68: Chart on Passive RFID systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Data Table on Passive RFID systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Chart on Passive RFID systems - Year-over-year growth 2022-2027 (%)
• Exhibit 71: Data Table on Passive RFID systems - Year-over-year growth 2022-2027 (%)

• 7.6 Active RFID systems - Market size and forecast 2022-2027 
• Exhibit 72: Chart on Active RFID systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Data Table on Active RFID systems - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Chart on Active RFID systems - Year-over-year growth 2022-2027 (%)
• Exhibit 75: Data Table on Active RFID systems - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Product 
• Exhibit 76: Market opportunity by Product ($ million)
• Exhibit 77: Data Table on Market opportunity by Product ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 78: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 79: Chart on Market share by geography 2022-2027 (%)
• Exhibit 80: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 81: Chart on Geographic comparison
• Exhibit 82: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 87: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 91: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 95: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 99: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 103: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 107: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Canada - Market size and forecast 2022-2027 
• Exhibit 111: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.11 Japan - Market size and forecast 2022-2027 
• Exhibit 115: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 116: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 117: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 118: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.12 Germany - Market size and forecast 2022-2027 
• Exhibit 119: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 120: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 121: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 122: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 123: Market opportunity by geography ($ million)
• Exhibit 124: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 125: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 126: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 127: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 128: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 129: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 130: Matrix on vendor position and classification

• 12.3 Alien Technology LLC
• Exhibit 131: Alien Technology LLC - Overview
• Exhibit 132: Alien Technology LLC - Product / Service
• Exhibit 133: Alien Technology LLC - Key offerings

• 12.4 Avery Dennison Corp.
• Exhibit 134: Avery Dennison Corp. - Overview
• Exhibit 135: Avery Dennison Corp. - Business segments
• Exhibit 136: Avery Dennison Corp. - Key news
• Exhibit 137: Avery Dennison Corp. - Key offerings
• Exhibit 138: Avery Dennison Corp. - Segment focus

• 12.5 CipherLab Co. Ltd.
• Exhibit 139: CipherLab Co. Ltd. - Overview
• Exhibit 140: CipherLab Co. Ltd. - Product / Service
• Exhibit 141: CipherLab Co. Ltd. - Key offerings

• 12.6 CoreRFID Ltd.
• Exhibit 142: CoreRFID Ltd. - Overview
• Exhibit 143: CoreRFID Ltd. - Product / Service
• Exhibit 144: CoreRFID Ltd. - Key offerings

• 12.7 Datalogic Spa
• Exhibit 145: Datalogic Spa - Overview
• Exhibit 146: Datalogic Spa - Business segments
• Exhibit 147: Datalogic Spa - Key news
• Exhibit 148: Datalogic Spa - Key offerings
• Exhibit 149: Datalogic Spa - Segment focus

• 12.8 eAgile Inc.
• Exhibit 150: eAgile Inc. - Overview
• Exhibit 151: eAgile Inc. - Product / Service
• Exhibit 152: eAgile Inc. - Key offerings

• 12.9 FEIG ELECTRONIC GmbH
• Exhibit 153: FEIG ELECTRONIC GmbH - Overview
• Exhibit 154: FEIG ELECTRONIC GmbH - Product / Service
• Exhibit 155: FEIG ELECTRONIC GmbH - Key offerings

• 12.10 Honeywell International Inc. 
• Exhibit 156: Honeywell International Inc. - Overview
• Exhibit 157: Honeywell International Inc. - Business segments
• Exhibit 158: Honeywell International Inc. - Key news
• Exhibit 159: Honeywell International Inc. - Key offerings
• Exhibit 160: Honeywell International Inc. - Segment focus

• 12.11 Impinj Inc.
• Exhibit 161: Impinj Inc. - Overview
• Exhibit 162: Impinj Inc. - Product / Service
• Exhibit 163: Impinj Inc. - Key offerings

• 12.12 Mojix Inc.
• Exhibit 164: Mojix Inc. - Overview
• Exhibit 165: Mojix Inc. - Product / Service
• Exhibit 166: Mojix Inc. - Key offerings

• 12.13 Nedap NV
• Exhibit 167: Nedap NV - Overview
• Exhibit 168: Nedap NV - Product / Service
• Exhibit 169: Nedap NV - Key offerings

• 12.14 NXP Semiconductors NV
• Exhibit 170: NXP Semiconductors NV - Overview
• Exhibit 171: NXP Semiconductors NV - Product / Service
• Exhibit 172: NXP Semiconductors NV - Key news
• Exhibit 173: NXP Semiconductors NV - Key offerings

• 12.15 RFID4U
• Exhibit 174: RFID4U - Overview
• Exhibit 175: RFID4U - Product / Service
• Exhibit 176: RFID4U - Key offerings

• 12.16 Siemens AG
• Exhibit 177: Siemens AG - Overview
• Exhibit 178: Siemens AG - Business segments
• Exhibit 179: Siemens AG - Key news
• Exhibit 180: Siemens AG - Key offerings
• Exhibit 181: Siemens AG - Segment focus

• 12.17 Zebra Technologies Corp. 
• Exhibit 182: Zebra Technologies Corp. - Overview
• Exhibit 183: Zebra Technologies Corp. - Business segments
• Exhibit 184: Zebra Technologies Corp. - Key news
• Exhibit 185: Zebra Technologies Corp. - Key offerings
• Exhibit 186: Zebra Technologies Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 187: Inclusions checklist
• Exhibit 188: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 189: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 190: Research methodology
• Exhibit 191: Validation techniques employed for market sizing
• Exhibit 192: Information sources

• 13.5 List of abbreviations
• Exhibit 193: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base comprises enterprises of all sizes, including over 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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