Global Radio Frequency Identification (RFID) Market is Set to Cross US$ 25.9 Bn in 2023 & Likely to Raise at a Stupendous CAGR of 16.8%, Crossing US$ 122.6 Bn by year 2033-end | Future Market Insights, Inc.

December 29, 2022

NEWARK, Del, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The global Radio frequency Identification market is estimated to be around US$ 25.9 Bn in the present year 2023. The overall market is expected to grow up to US$ 122.6 Bn by 2033, by registering a CAGR of 16.8%.  Among the big factors for this higher growth rate of the RFID market is the growing need for this technology in manufacturing industries for transmission lines. Moreover, the growing need for better inventory management has increased the demand for RFID products in the global market recently. The RFID technology is currently widely deployed to monitor assets on a real-time basis in industries such as transportation, logistics and supply chain, retailing, security, and so on. Recent technological advancements have also opened up the road for Radio Frequency Identification (RFID) market in the healthcare sector. Request a Sample Copy of the Report @ The sudden increase in the deployment of RFID solutions throughout healthcare and service sectors has promoted the growth of the aforementioned market. Furthermore, the increase in laws and policy efforts is likely to drive research in Radio Frequency Identification technology. Unfortunately, the high costs associated therewith RFID installation, procurement, and maintenance are expected to limit the market growth to certain degrees. Moreover, worries about data security and privacy, are projected to hinder the rapid adoption of RFID technology in many sectors as well. Key Takeaways from the Radio Frequency Identification Market Study China is the leading country in terms of the production and consumption of RFID products around the world. This regional market contributes to around 25% of the market alone and is poised to reach US$ 30.3 Bn by 2033.The United States is the second-largest regional RFID market. The market is predicted to register a CAGR of 11.5% over the forecast years and reach a valuation of US$ 14.9 Bn by 2033.India comes third in the overall sales of RFID products. However, it is the fastest-growing region in terms of the adoption of RFID technology and is anticipated to register a CAGR of 22.9% through 2033.In Europe, the United Kingdom holds the largest market for an RFID solutions. It is projected to grow at a rate of 17.8% from 2023 to 2033 and reach a valuation of US$ 7.3 Bn by the end.Based on components, RFID readers have garnered the highest sales than any other segment. It is predicted to register the highest CAGR of 16.5% until the year 2033.Likewise, in the applications category, the retail and consumer goods segment promises a very lucrative opportunity for the market. This RFID market segment is expected to witness a year-on-year growth rate of 15.9% during the forecast years. Buy Now @ Competitive Landscape for the Radio Frequency Identification Market Zebra Technologies Corporation, Invengo Information Technology Co. Ltd., Xerox Corporation, Thin Film Electronics ASA, HID Global Corporation, GAO RFID Inc., Impinj, Inc., Alien Technology, Omni-ID, Ltd. and Molex Inc. among others are some of the major players in the global Radio-frequency Identification technology market. The availability of low-cost RFID solutions with high rates of return has motivated many emerging industries to enter this market in the last few years. Additionally, an increased favourable policy and government frameworks and regulatory requirements for its uses have increased the sales of RFID tags recently. Radio Frequency Identification Market by Category Component: RFID Tags Low Frequency (LF)High Frequency (HF)Ultra-High Frequency (UHF)Microwave FrequencyUltra-Wideband (UWB) RFID ReadersRFID Software and Middleware Applications: Logistics and TransportationAerospace and DefenseAutomotiveRetail and Consumer GoodsAgricultureHealthcareGovernment Region: North AmericaLatin AmericaEuropeEast AsiaSouth AsiaOceaniaMiddle East & Africa Request for Customization @ Table of Content 1. Executive Summary     1.1. Global Market Outlook     1.2. Demand-side Trends     1.3. Supply-side Trends     1.4. Technology Roadmap Analysis     1.5. Analysis and Recommendations 2. Market Overview     2.1. Market Coverage / Taxonomy     2.2. Market Definition / Scope / Limitations 3. Market Background     3.1. Market Dynamics     3.2. Scenario Forecast     3.3. Opportunity Map Analysis     3.4. Investment Feasibility Matrix 4. Global Market Analysis 2017-2022 and Forecast, 2023-2033     4.1. Historical Market Size Value (US$ Bn) Analysis, 2017-2022     4.2. Current and Future Market Size Value (US$ Bn) Projections, 2023-2033 Get More Information on this Report @ Top Reports Related To Technology Market Insights Flash Calling Authentication Market Size - The global flash calling authentication market size was valued at US$ 21.2 Bn in 2021 and is projected to grow at a compound annual growth rate of 38% reaching US$ 1.2 Tn by 2032. Flight Data Monitoring and Analysis Market Share - The global flight data monitoring and analysis market size was valued at US$ 1.1 Billion in 2021 and is projected to grow at a compound annual growth rate of 8.6% reaching US$ 2.7 Billion by 2032 from US$ 1.2 Billion in 2022. Enterprise VSAT Systems Market Trends - The global Enterprise VSAT Systems Market was valued at US$ 4.4 Billion in 2021, and is likely to exhibit a y-o-y expansion rate worth 4.7% in 2022, reaching US$ 4.7 Billion. During the 2022-2032 forecast period, the market will likely register a CAGR of 4.3% to reach US$ 7.1 Billion. Fiber Optic Collimating Lens Market Growth - In 2021, sales of fiber optics collimating lens valued US$ 554 Mn. The market is forecasted to reach US$ 677.4 Mn in 2022. The global fiber optics collimating lens market is projected at an 11.8% CAGR during the assessment period, garnering US$ 2.1 Bn. Blockchain AI Market Outlook - The blockchain AI trade is estimated at USD 285.7 Million in 2021. The sale is expected to reach USD 358 Million in 2022. According to the analysis, the global blockchain AI market is anticipated to secure USD 2.8 Billion in 2032, while flourishing at a 22.9% CAGR from 2022 to 2032. About Future Market Insights, Inc. Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries. Contact Us: Future Market Insights Inc.Christiana Corporate, 200 Continental Drive,Suite 401, Newark, Delaware - 19713, USAT: +1-845-579-5705LinkedIn| Twitter| Blogs | YouTubeFor Sales Enquiries:

© 2023