Radio Frequency Identification Market by Product, End-user, and Geography - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR40517
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The radio frequency identification (RFID) market share is expected to increase by USD 7.86 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 10.07%.

This radio frequency identification (RFID) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by product (RFID tags, middleware, passive RFID systems, and active RFID systems), end-user (industrial, BFSI, retail, logistics, and others), and geography (North America, APAC, Europe, South America, and MEA). The radio frequency identification (RFID) market report also offers information on several market vendors, including Alien Technology LLC, CoreRFID Ltd., Datalogic Spa, eAgile Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., NXP Semiconductors NV, Siemens AG, and Zebra Technologies Corp. among others.

What will the Radio Frequency Identification (RFID) Market Size be During the Forecast Period?

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Radio Frequency Identification (RFID) Market: Key Drivers and Trends

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The adoption of inventory management systems is notably driving the radio frequency identification (RFID) market growth, although factors such as data security and consumer privacy issues may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the radio frequency identification (RFID) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Radio Frequency Identification (RFID) Market Driver

One of the key factors driving growth in the radio frequency identification (RFID) market is the adoption of inventory management systems. In the end-user segments such as industrial and retail, the data entry and database of the equipment or product were managed manually, which led to an increase in errors and inaccuracy and was a time-consuming process. With the help of RFID tags, the user will be able to record and recognize the database of the product with better precision. Industries such as manufacturing, logistics, and warehousing require an accurate database of the products, which will aid in better decision-making among these end-user industries. With the introduction of RFID tags, vendors, manufacturers, and other end-users have found major improvements in the overall data entry. Thus, accuracy in database management will result in an increased demand for RFID products.

Key Radio Frequency Identification (RFID) Market Challenge

The data security and consumer privacy issues will be a major challenge for the radio frequency identification (RFID) market vendors during the forecast period. In RFID technology, the data stored can be encrypted based on the requirement of the end-user. Without encryption, the data stored can be found with the help of the frequency of RFID tags. Data security is a threat to RF communication that happens between the tags and the readers. Some of the data security threats are clone tags, unauthorized riders, and side-channel attacks. Due to data security and consumer privacy issues, RFID tags are not used in critical applications such as credit cards, debit cards, and financial service applications. Vendors involved in the middleware should investigate the data security and privacy issue that is hindering the growth of the global RFID market. Also, because of the data security issue, the vendors in the global RFID market are not able to tap into the financial applications (including credit and debit cards).

This radio frequency identification (RFID) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Radio Frequency Identification (RFID) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alien Technology LLC
  • CoreRFID Ltd.
  • Datalogic Spa
  • eAgile Inc.
  • Honeywell International Inc.
  • Impinj Inc.
  • Mojix Inc.
  • NXP Semiconductors NV
  • Siemens AG
  • Zebra Technologies Corp.

 

This statistical study of the radio frequency identification (RFID) market encompasses successful business strategies deployed by the key vendors. The radio frequency identification (RFID) market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The radio frequency identification (RFID) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Radio Frequency Identification (RFID) Market?

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40% of the market’s growth will originate from APAC during the forecast period. China is the key market for radio frequency identification (RFID) in APAC. Market growth in this region will be faster than the growth of the market in other regions.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Radio Frequency Identification (RFID) Market?

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The radio frequency identification (RFID) market share growth by the RFID tags segment will be significant during the forecast period. The market for RFID tags is growing in several operational processes across the industrial landscape. A rising number of end-user industries that require access management and material identification has driven the market for RFID tags. RFID tags decrease the pressure on manual processes, enhance the efficiency of operations, increase asset traceability, and improve reliability.

This report provides an accurate prediction of the contribution of all the segments to the growth of the radio frequency identification (RFID) market size and actionable market insights on post COVID-19 impact on each segment.

 

Radio Frequency Identification (RFID) Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 10.07%

Market growth 2021-2025

$ 7.86 billion

Market structure

Fragmented

YoY growth (%)

8.85

Regional analysis

North America, APAC, Europe, South America, and MEA

Performing market contribution

APAC at 40%

Key consumer countries

US, China, UK, Canada, and Germany

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alien Technology LLC, CoreRFID Ltd., Datalogic Spa, eAgile Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., NXP Semiconductors NV, Siemens AG, and Zebra Technologies Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Radio Frequency Identification (RFID) Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive radio frequency identification (RFID) market growth during the next five years
  • Precise estimation of the radio frequency identification (RFID) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the radio frequency identification (RFID) industry across North America, APAC, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of radio frequency identification (RFID) market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • RFID tags - Market size and forecast 2020-2025
    • Middleware - Market size and forecast 2020-2025
    • Passive RFID systems - Market size and forecast 2020-2025
    • Active RFID systems - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Industrial - Market size and forecast 2020-2025
    • BFSI - Market size and forecast 2020-2025
    • Retail - Market size and forecast 2020-2025
    • Logistics - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • North America - Market size and forecast 2020-2025
      • APAC - Market size and forecast 2020-2025
      • Europe - Market size and forecast 2020-2025
      • South America - Market size and forecast 2020-2025
      • MEA - Market size and forecast 2020-2025
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Overview
      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Alien Technology LLC
      • CoreRFID Ltd.
      • Datalogic Spa
      • eAgile Inc.
      • Honeywell International Inc.
      • Impinj Inc.
      • Mojix Inc.
      • NXP Semiconductors NV
      • Siemens AG
      • Zebra Technologies Corp.

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
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      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
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      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
      Interested in this report?
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      The radio frequency identification (rfid) market growth will increase by $7863.21 million during 2020-2025.
      The radio frequency identification (rfid) market is expected to grow at a CAGR of 10.07% during 2020-2025.
      Technavio has segmented the radio frequency identification (rfid) market by product (RFID tags, Middleware, Passive RFID systems, and Active RFID systems) ,end user (Industrial, BFSI, Retail, Logistics, and Others) , and geographic (North America, APAC, Europe, South America, and MEA).
      Alien Technology LLC, CoreRFID Ltd., Datalogic Spa, eAgile Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., NXP Semiconductors NV, Siemens AG, Zebra Technologies Corp. are a few of the key vendors in the radio frequency identification (rfid) market.
      APAC will register the highest growth rate of 39.54% among the other regions. Therefore, the radio frequency identification (rfid) market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      The key factors driving the radio frequency identification (rfid) market growth are:
      • Adoption of inventory management systems
      The radio frequency identification (rfid) market vendors should focus on grabbing business opportunities from the rfid tags segment as it accounted for the largest market share in the base year.
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