Radio Frequency Identification Market: Revenue to Grow at a CAGR of 14.5% During 2018–2028, Driven by Integrating RFID Technology with IoT and Big Data Platforms for Real-time Data Access

  • No. of Pages: 196
  • Published: 2018-07-26
  • Report Code: REP-GB-656

An Incisive, In-depth Analysis on the Rfid Market

This study offers a comprehensive, 360 degree analysis on the Rfid market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Rfid market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

RFID, as considered under the scope of the report, is used in various industries for supply chain management.

The global RFID market is estimated to be valued at US$ 12,912.0 Mn by the end of 2017 and is expected to grow in the coming years at a CAGR of 14.5% in terms of value over the forecast period. The global RFID market is anticipated to represent a large incremental opportunity between 2018 and 2028.

On the basis of application, the global RFID market can be segmented into logistics & transportation, aerospace & defence, automotive, retail & consumer goods, agriculture, healthcare, government and others. The retail and consumer goods segment is expected to account for a sizable share of the overall RFID market by the end of the forecast period. The growth of the RFID market is predominantly driven by the rising need for efficient supply chain management in the developing economies of South East Asia & Others of APAC, Middle East & Africa and China. In the healthcare sector, the focus on RFID technology for the tracking and classification of medical instruments is rising, and this is expected to drive the demand for the technology. The adoption of RFID technology by customers of aircrafts, such as Airbus, Boeing and the U.S. Department of Defence, for improving supply chain visibility, asset management & utilization, work-in-process (WIP) tracking, improved maintenance tracking and efficient logistics & manufacturing operations has increased.

The North America RFID market holds a major value share in the global market and is likely to maintain its dominance in the global RFID market over the forecast period. The market in this region is projected to represent a significant incremental opportunity between 2018 and 2028. Rising need for efficient supply chain management is expected to support the growth of the North America RFID market during the forecast period. RFID stores detailed information related to the product on which it is tagged. The prices and details of products with RFID tags are automatically recorded when the customer approaches the counter without the need to scan every product, which saves the time of the customer. Moreover, it allows the cost tally in one scan, which saves the time of the customer as well as the retailer. These advantages have encouraged retail and manufacturing companies across developing regions such as SEA & Others of APAC and China to adopt RFID for tagging their products. China is expected to present attractive opportunities for RFID manufacturers followed by countries located in the South East Asia & Pacific. The China RFID market is estimated to grow at a significant CAGR in terms of value over the forecast period. Sales of RFID in the Western Europe market are projected to represent a total incremental opportunity of US$ 6,802.7 Mn and the Latin America RFID market is also anticipated to witness significant growth.

At present, the vendors in the market are focusing on the integration of RFID with IoT to be able to identify an object and its real-time location. Some of the market vendors in the global RFID market include Zebra Technologies Corporation; HID Global Corporation; Thin Film Electronics ASA; Invengo Information Technology Co., Ltd.; GAO RFID Inc.; Impinj, Inc.; Xerox Corporation; Omni-ID; Alien Technology, LLC and Molex, LLC.

Key developments in the RFID market

  • In January 2017, Zebra Technologies Corporation launched Zebra SmartSense RFID for application in the retail sector for identifying and tracking the location of merchandise, associates and shoppers in a retail store in real-time

  • In May 2017, HID Global Corporation launched IoT solutions to offer enterprises solutions for asset management and equipment management. HID Location Services is used for item management, and it monitors the location and movement of assets & equipment across multiple locations or in a particular area

  • In February 2017, Impinj, Inc. entered into a partnership with STANELY Healthcare, a leading provider of healthcare products, to integrate Impinj’s Platform with MobileView Real-Time Location Systems (RTLS) software platform to offer RFID products for application in the healthcare industry.

The global RFID market is expected to register a CAGR of 14.5% during 2018 – 2028 with SEA and Others of APAC, Western Europe and North America accounting for significant market value shares by the end of the forecast period.

FMI delivers key insights on the global RFID market in its report titled “RFID market: Global Industry Analysis 2013 – 2017 and Opportunity Assessment 2018 – 2028.” Growth in the value of the global RFID market is estimated to remain attractive as the market is expected to grow continuously at a CAGR of 14.5% in terms of value during the forecast period 2018 – 2028. On the basis of components, the RFID software and middleware segment is expected to register attractive growth over the forecast period. Based on application, the agriculture segment is estimated to gain high penetration in terms of market share during the forecast period.

The annual revenue of the global RFID market was US$ 12,912.0 Mn by the end of 2017, which is expected to grow at a steady pace over the coming years. The dominating regions, i.e., North America, SEA & Others of APAC and Western Europe, are expected to collectively account for a majority share in the global RFID market. These regions are likely to dominate the global market over the forecast period.

Over a decade ago, RFID technology was used by large enterprises.  With improvements in technology and economical cost, this technology has been adopted by small and medium enterprises. RFID technology is widely used by all tier companies to streamline operations and enhance the visibility of their supply chain and logistics operations. The usage of RFID technology in automated item identification systems is gaining importance in the retail sector.

The increasing need for RFID tags across the globe is driven by robust opportunities in the healthcare sector. In the healthcare sector, an increasing focus on RFID technology for the tracking and classification of medical instruments has been driving the demand for RFID tags worldwide. This technology holds immense potential for improving supply chain efficiency and ensuring patient safety while reducing human errors in healthcare processes at the same time. Healthcare management and monitoring of critical care equipment represent other interesting areas of application for the RFID market. The automotive and aerospace industry is adopting the RFID technology especially for the tracking of vehicles, inventory management of spare parts and visibility in logistics operations. Also, vendor management has become smoother with use of RFID technology since it provides detailed performance metrics. 

On the basis of FMI analysis, the RFID tags in the component segment are expected to dominate the market due to the high penetration of advanced technologies such as RAIN RFID tag in various industry verticals. The High Frequency (HF) sub-segment in the RFID tags segment is estimated to remain dominant in terms of market share during the forecast period. On the basis of applications, the agriculture segment will be a dominating segment due to the wide adoption of RFID technology for the tagging of animals through which the farmers can easily trace them and improve supply chain efficiency.

The North America RFID market is expected to dominate the global RFID market due to the large automotive tires market in the country. The market has huge potential in China owing to major technological advancements in the healthcare, retail and consumer goods markets. The SEA and Others of APAC RFID market will be a target market for market participants looking to penetrate the retail and consumer goods segment. Latin America is estimated to grow with an above-average CAGR over the forecast period. Brazil is expected to hold a major revenue share in the Latin America RFID market over the forecast period.

According to FMI analysis, long-term contracts with business partners are estimated to help increase revenue and new innovation strategies are likely to enable RFID vendors to reach new growth markets. Some of the market participants in the global RFID market report include Zebra Technologies Corporation; HID Global Corporation; Thin Film Electronics ASA; Invengo Information Technology Co., Ltd.; GAO RFID Inc.; Impinj, Inc.; Xerox Corporation; Omni-ID; Alien Technology, LLC and Molex, LLC.

Rfid Market Reports - Table of Contents

Rfid Market Reports - List of Tables

Table 01: Global RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 02: Global RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 03: Global RFID Market Value (US$ Mn) Analysis by Region, 2013-2028

Table 04: North America RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 05: North America RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 06: North America RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 07: Latin America RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 08: Latin America RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 09: Latin America RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 10: Western Europe RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 11: Western Europe RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 12: Western Europe RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 13: Eastern Europe RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 14: Eastern Europe RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 15: Eastern Europe RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 16: SEA and Others of APAC RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 17: SEA and Others of APAC RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 18: SEA and Others of APAC RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 19: China RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 20: China RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 21: Japan RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 22: Japan RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Table 23: MEA RFID Market Value (US$ Mn) Analysis by Country, 2013-2028

Table 24: MEA RFID Market Value (US$ Mn) Analysis by Component, 2013-2028

Table 25: MEA RFID Market Value (US$ Mn) Analysis by Application, 2013-2028

Rfid Market Reports - List of Figures

Figure 01: Global RFID Market Value (US$ Mn), 2018–2028

Figure 02: Global Macroeconomic Factors for RFID Market

Figure 03: Worldwide ICT spending (US$ Bn)  from 2015-2017

Figure 04: Global RFID Market Value (US$ Mn), 2013-2017

Figure 05: Global RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 06: Global RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 07: Global RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 08: Global RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 09: Global RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 10: Global  RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 11: Global RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 12: Global RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 13: Global  RFID Market Share and BPS Analysis by Region- 2018 & 2028

Figure 14: Global RFID Market Attractiveness Analysis by Region, 2018-2028

Figure 15: Global RFID Market Y-o-Y Growth by Region, 2018-2028 

Figure 16: North America RFID Market Absolute $ Opportunity, 2018-2028

Figure 17: Latin America RFID Market Absolute $ Opportunity, 2018-2028

Figure 18: Western Europe RFID Market Absolute $ Opportunity, 2018-2028

Figure 19: Eastern Europe RFID Market Absolute $ Opportunity, 2018-2028

Figure 20: China RFID Market Absolute $ Opportunity, 2018-2028

Figure 21: Japan RFID Market Absolute $ Opportunity, 2018-2028

Figure 22: SEA and Others of APAC  RFID Market Absolute $ Opportunity, 2018-2028

Figure 23: MEA RFID Market Absolute $ Opportunity, 2018-2028

Figure 24: North America RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 25: North America RFID Market Value (US$ Mn) 2013-2017

Figure 26: North America RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 27: North America RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 28: North America RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 29: North America RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 30: North America RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 31: North America RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 32: North America RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 33: North America RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 34: North America RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 35: North America RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 36: Latin America RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 37: Latin America RFID Market Value (US$ Mn) 2013-2017

Figure 38: Latin America RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 39: Latin America RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 40: Latin America RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 41: Latin America RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 42: Latin America RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 43: Latin America RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 44: Latin America RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 45: Latin America RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 46: Latin America RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 47: Latin America RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 48: Western Europe RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 49: Western Europe RFID Market Value (US$ Mn) 2013-2017

Figure 50: Western Europe RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 51: Western Europe RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 52: Western Europe RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 53: Western Europe RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 54: Western Europe RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 55: Western Europe RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 56: Western Europe RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 57: Western Europe RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 58: Western Europe RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 59: Western Europe RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 60: Eastern Europe RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

 Figure 61: Eastern Europe RFID Market Value (US$ Mn) 2013-2017

Figure 62: Eastern Europe RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 63: Eastern Europe RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 64: Eastern Europe RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 65: Eastern Europe RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 66: Eastern Europe RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 67: Eastern Europe RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 68: Eastern Europe RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 69: Eastern Europe RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 70: Eastern Europe RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 71: Eastern Europe RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 72: SEA and Others of APAC RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 73: SEA and Others of APAC RFID Market Value (US$ Mn) 2013-2017

Figure 74: SEA and Others of APAC RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 75: SEA and Others of APAC  RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 76: SEA and Others of APAC RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 77: SEA and Others of APAC RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 78: SEA and Others of APAC RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 79: SEA and Others of APAC RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 80: SEA and Others of APAC RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 81: SEA and Others of APAC RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 82: SEA and Others of APAC RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 83: SEA and Others of APAC RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 84: China RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 85: China RFID Market Value (US$ Mn) 2013-2017

Figure 86: China RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 87: China RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 88: China RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 89: China RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 90: China RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 91: China RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 92: China RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 93: Japan RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 94: Japan RFID Market Value (US$ Mn) 2013-2017

Figure 95: Japan RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 96: Japan RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 97: Japan RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 98: Japan RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 99: Japan RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 100: Japan RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 101: Japan RFID Market Y-o-Y Growth by Application, 2018-2028 

Figure 102: MEA RFID Market Value (US$ Mn) Opportunity Assessment & Incremental $ Opportunity Analysis, 2018 & 2028

Figure 103: MEA RFID Market Value (US$ Mn) 2013-2017

Figure 104: MEA RFID Market Value (US$ Mn) Opportunity Assessment, 2018-2028

Figure 105: MEA  RFID Market Share and BPS Analysis by Country - 2018 & 2028

Figure 106: MEA RFID Market Attractiveness Analysis by Country, 2018-2028

Figure 107: MEA RFID Market Y-o-Y Growth by Country, 2018-2028 

Figure 108: MEA RFID Market Share and BPS Analysis by Component - 2018 & 2028

Figure 109: MEA RFID Market Attractiveness Analysis by Component, 2018-2028

Figure 110: MEA RFID Market Y-o-Y Growth by Component, 2018-2028 

Figure 111: MEA RFID Market Share and BPS Analysis by Application - 2018 & 2028

Figure 112: MEA RFID Market Attractiveness Analysis by Application, 2018-2028

Figure 113: MEA RFID Market Y-o-Y Growth by Application, 2018-2028 

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