RFID Market Growth, Analysis, Latest Trends and Forecast till 2030

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The RFID Market is expected to reach USD 35.6 billion by 2030; it is expected to grow at a CAGR of 11.9% during the forecast period.

RFID technology uses radio waves to identify/detect people or objects. RFID tags are small electronic devices that send/receive data to/from RFID readers. RFID tags can be incorporated into products, animals, or humans for identification and data collection. According to the Food and Drug Administration (FDA), “Radio frequency identification (RFID) refers to a wireless system composed of two components: tags and readers. The reader is a device that has one or more antennas that emit radio waves and receive signals back from the RFID tag.

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Radio-frequency identification (RFID) is a technology that uses radio waves to identify and track objects. The RFID market has seen tremendous growth in recent years due to increasing demand for efficient and cost-effective supply chain management and inventory control solutions.

RFID is being widely adopted across various industries such as retail, healthcare, transportation, and logistics. In retail, RFID tags are used to track inventory, prevent theft, and streamline the checkout process. In healthcare, RFID is used to track medical equipment and patients, improving safety and efficiency. In transportation and logistics, RFID helps companies to track their assets and improve supply chain visibility.

The RFID market is expected to grow significantly in the coming years due to increasing demand for smart and connected devices, IoT implementation, and the need for real-time tracking. The market is also driven by the increasing popularity of passive RFID, which is a low-cost and low-maintenance solution for tracking and identifying objects.

Leading players in the RFID market include NXP Semiconductors, Impinj, Alien Technology, Zebra Technologies, and Avery Dennison, among others. These companies are investing in R&D and developing innovative solutions to stay ahead of the competition and meet the growing demand for RFID technology.

Overall, the RFID market offers tremendous growth opportunities for companies looking to invest in this technology. With increasing demand for efficient and cost-effective supply chain management solutions, the RFID market is poised for significant growth in the coming years.

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The prominent players operating in the RFID market are Zebra Technologies (US), Alien Technology (US), CAEN RFID (Italy), Impinj (US), Avery Dennison (US), Honeywell (US), NXP Semiconductors (Netherlands), GAO RFID (Canada), HID Global (US), Invengo (China), Infotek Software & Systems (P) Ltd (i-TEK) (India), Bartronics India Ltd. (India), Bartech Data Systems Pvt. Ltd., Bar Code India Ltd. (BCI) (India), ORBCOMM Inc. (US), GlobeRanger (US), Mojix (US), Securitag Assembly Group (SAG) (Taiwan), Linxens (France), Checkpoint Systems (US), Identiv (US), Confidex (Finland), Datalogic (Italy), Nedap (Netherlands), ThingMagic (Jadak Company) (US), and Omni-ID (US).

News also Covered: https://www.globenewswire.com/en/news-release/2022/07/08/2476627/0/en/RFID-Market-worth-35-6-billion-by-2030-Exclusive-Report-by-MarketsandMarkets.html