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RFID Market Size - By Component, System, Application Analysis, Share, Growth Forecast, 2025 - 2034
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RFID Market
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Premium Report Details
Base Year: 2024
Companies covered: 15
Tables & Figures: 290
Countries covered: 18
Pages: 190
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RFID Market Size
The global RFID market was valued at USD 16.8 billion in 2024 and is estimated to grow at a CAGR of 12.7% from 2025 to 2034, attributed to factors such as increasing demand for supply chain visibility and transparency and expansion in healthcare & pharmaceuticals.
One key driver for the RFID (Radio-Frequency Identification) market is the increasing demand for supply chain visibility and efficiency. RFID technology enables automatic identification and tracking of items in real-time, providing a comprehensive and accurate view of the entire supply chain. RFID technology allows for real-time tracking of inventory movements, reducing the likelihood of errors associated with manual data entry. This leads to more accurate inventory levels and helps organizations optimize their stock levels, minimizing both excess and insufficient stock situations. The automation and efficiency introduced by RFID systems can lead to significant cost savings in the supply chain.
RFID labels apply to individual drug packages or containers, healthcare providers (HCPs) can actively monitor information in real-time, such as expiration dates, recalls, and stock levels. Automated RFID systems can alert HCPs when drugs are nearing expiration, ensuring timely removal and replacement. This proactive approach reduces medication errors and enhances patient safety by preventing the administration of expired or recalled products. Moreover, RFID-enabled inventory management systems optimize stock levels, enabling organizations to maintain adequate supplies while minimizing waste and avoiding stock outs.
Key players in the RFID industry should partner with pharmaceutical distributors to develop a blockchain-based RFID platform for end-to-end drug traceability, ensuring regulatory compliance, reducing counterfeits, and optimizing inventory across hospitals and pharmacies.
RFID Market Trends
RFID Market Analysis
Based on the system, the active RFID system market crossed USD 7 billion in 2023. RFID system using wireless communication that enables transferring data between RF Tags that are attached to objects and antenna. RFID systems are used for supply chain tracking, asset tracking, retail and point of sale (POS), access control and security and livestock tracking.
Based on components, the market is divided into tags, antennas, readers, and middleware. RFID tags are small electronic devices that store information and RFID antennas are used for transmitting and receiving radio frequency signals that interact with RFID tags.
Based on applications, the market is segmented into retail, financial services, healthcare, industrial, government, others. The rapid shift towards generating real-time results for stock taking transactions, inventory levels are the major factors contributing to the growth of the RFID market.
In 2024, North America accounted for over 33.4% of the global RFID market. The large share of this market is attributed to enabling data to be stored electronically in chips embedded in identification documents.
In 2024, Europe accounted for 23.5% of the global RFID market. Factors supporting growth of RFID in Europe are established automotive manufacturing hub with industry leading research development pioneers in RFID R&D projects, access control, cashless payments, and visitor identification, Spanish resorts, theme parks and more.
In 2024, Asia Pacific accounted for a share of 31% of the global RFID market. The presence of leading automotive manufacturers and automation in the retail industry with Radio-Frequency Identification (RFID) technology are supporting the market growth in the region.
In 2024, Latin America accounted for a share of 4.1% of the global RFID market. The high adoption of RFID in agribusiness is a major factor growth of RFID in the region.
In 2024, the Middle East and Africa accounted for a share of 7.9% of the global RFID market. The increased push towards sustainability and energy efficiency and government buildings, and transport to improve security are major factors driving market growth.
RFID Market Share
The RFID industry is competitive and highly fragmented with the presence of established global players as well as local players and startups. The top 5 companies in the global ambient light market are NXP Semiconductors, Zebra Technologies Corporation, Impinj, Inc., HID Global Corporation, Avery Dennison Corporation, collectively accounting for a share of 28.6%. These companies are competing in the market by offering more flexibility and efficiency in tracking operations. For instance, In November 2024, MASS Group expanded its capabilities by integrating Zebra Technologies FX9600 and FX7500 fixed readers, strengthening its RFID and asset tracking solutions. This move allows the company to offer both handheld and fixed hardware, giving clients more flexibility and efficiency in tracking operations. By broadening its product range, MASS Group positions itself as a more comprehensive provider, catering to businesses that need scalable, real-time tracking solutions.
New product launches are the most significant strategic development which key players in the market are adopting for augmenting their market share. Key RFID manufacturers are increasingly launching new products for proliferation in consumer product companies and pharmaceuticals sectors. For instance, in November 2024, Global labelling company multi-color Corporation (MCC), expanded its capacity for RFID tag production with the acquisition of Starport Technologies. MCC’s new acquisition is intended to help meet the growing demand for RFID enabled labels by consumer product companies, as well as pharmaceuticals and makers of products that require inventory visibility, according to company officials.
RFID Market Companies
The top 5 companies operating in the RFID industry are:
NXP dominates the RFID industry through its comprehensive portfolio of RFID ICs and solutions. Their MIFARE product line is the standard of industry for contactless smart cards and ticketing systems, used in over 750 cities worldwide. Their UCODE product family serves retail, logistics, and industrial applications with high-performance UHF RFID chips. NXP's NTAG series is widely used in NFC applications, enabling consumer engagement and product authentication. Their automotive RFID solutions, including key fobs and immobilizers, are used by major car manufacturers globally.
Zebra Technologies leads through its end-to-end RFID hardware and software solutions. Their RFID printer/encoders, like the ZT600 and ZQ600 series, are industry standards for producing RFID labels on a scale. The FX series fixes RFID readers, and MC33XX series handheld RFID readers are widely deployed in warehouse management and retail inventory tracking. Their AtlasRFID platform provides comprehensive RFID asset tracking solutions.
Impinj established itself through specialization in RAIN RFID technology. Their Monza RFID chips are widely used in retail and supply chain applications, known for superior performance and reliability. The Speedway reader family provides high-performance fixed RFID reading capabilities, while their xArray and xSpan gateways enable overhead RFID tracking in retail and warehouse environments. Their Indy reader chips are used by many manufacturers to build their own RFID readers.
RFID Industry News
This RFID market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Million) from 2021 to 2034, for the following segments:
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Market, By Component
Market, By System
Market, By Application
The above information is provided for the following regions and countries: