Radio-Frequency Identification Market Analysis, Demand, Scope and Industry Size will Grow USD 40.71 Billion by 2030

Radio-Frequency Identification Market Insights

According to MRFR analysis, the global Radio-Frequency Identification Market is expected to register a CAGR of 13.20% from 2022 to 2030 and hold a value of over USD 40.71 Billion by 2030.

Radiofrequency identification (RFID) is well-defined as the technology that makes use of radio frequency electrostatic fields or electromagnetic fields. The technology help in identifying objects possessing tags when they come near to a reader. The RFID offers automatic item identification on shipping and getting applications, and mixed pallets. The upsurge in the requirement for the accurate data unit, especially in warehouses acts as one of the main factors driving the growth of the radio-frequency identification technology (RFID) market. The COVID-19 pandemic has impacted the radio-frequency identification technology (RFID) market. The limited investment costs and lack of employees hindered sales and production of RFID technology. However, the government and market key players accepted new safety measures for developing the practices. The advancements in the technology intensified the sales rate of the RFID technology industry as it targeted the accurate audience.

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Key Players

Some of the key market players are-

• Impinj Inc. (US)
• Ascendent ID (U.S)
• Checkpointt System Inc. (U.S)
• Avery Dennison Corporations (US)
• NXP Semiconductors N.V (Netherlands)
• Alien Technology (US)
• 3M Company (U.S)
• ACTAtek Technology (U.S)
• Axcess International Inc. (U.S)

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Radio-Frequency Identification Market Segmentation

The global Radio-Frequency Identification Market has been segmented into product type, Industry vertical, component, frequency,

Based on the product, The global Radio-Frequency Identification Market has been segmented into the components of different factors which are tags, readers, and software. 

Based on the Industry vertical, The global Radio-Frequency Identification Market has been segmented into transportation, BFSI, Animal Tracking/Agriculture, commercial, retail, government, healthcare, logistic aerospace, security control & defense, and others. 

Based on the Components, The global Radio-Frequency Identification Market has been segmented into Passive RFID, Active RFID, and Other. 

Based on the Frequency, The global Radio-Frequency Identification Market has been segmented into Low Frequency, High Frequency, Ultra-high Frequency, and Active Ultra-High Frequency.

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Regional Analysis

North America leads the radio-frequency identification technology (RFID) market because of the increase in demand for storage and tracker solutions provided by Radio-Frequency Identification (RFID) within the region.

Asia-Pacific is anticipated to witness significant growth during the forecast period of 2022 to 2030 because of the rush in the size of high data generation in the region.

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