RFID Market 2021 Research Report With COVID-19 Update - Key Players Analysis, Growth Factors and Forecast to 2028


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Shibuya Data Count

Jan 16, 2022, 23:22 EST


Shibuya-ku, Tokyo, Japan, Japan, Jan 16, 2022, 23:22 /Comserve / -- According to Research Dive analysis, the global RFID market is estimated to generate a revenue of $21,361.9 million by 2027, increasing from $9,966.4 million in 2019, at a healthy CAGR of 9.0%.

Impact Analysis of COVID-19 on the Global RFID Market:

The global RFID market has experienced a decent growth rate during the time of COVID-19 pandemic. Due to complete shutdown across the globe most of the industries and manufacturing units were closed. At this time, the market witnessed drastic increase in adoption of RFIDs. RFIDs were used by many healthcare institutions and multiple companies as a sensor to track plasma used in treating COVID-19 patients. Due to the benefit of RFID in treating patients there was an ultimate boost to the market growth during time of pandemic.

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RFID Market Analysis:

Increasing use of RFID technology in most of the end-use industries is predicted to be the major driving factor for the market in the estimated period. The RFIDs are used in the end-use industries as these tags are used to identify and track the object attached during production or any other operational activities. For instance, the RFID tags are used in the automobile industry for tracking the production line and the progress of the product. Moreover, increasing demand of RFIDs in textile industry for tracking the production process is considered to be the major driving factor for the market in the estimated period.

The cost involved in manufacturing of the RFIDs is predicted hamper the market growth at the estimated period. Increased cost and availability of cheaper alternative products like barcodes to the consumer is predicted be the biggest restraints for the global market in the estimated period.

Based on product, the RFID market is classified into the tag and reader. The tag sub-segment garnered $5,876.3 million in 2019 and is projected to grow exponentially by 2027.

Based on type, the global RFID market for RFID market is divided into active and passive.

The passive sub-segment is predicted to have the maximum market share and it is anticipated to generate a revenue of $10,292.0 million by 2027.

Based on material, the RFID market is classified into the plastic, paper, glass, metal and others. The glass sub-segment garnered $2,178.0 million in 2019 and is projected to grow exponentially by 2027.

Based on frequency, the RFID market is classified into the low frequency, high frequency and ultra-high frequency. The ultra-high frequency sub-segment garnered $4,773.5 million in 2019 and is projected to grow exponentially by 2027.

Based on the end-user, the RFID market is segmented into the retail, BFSI, government, industrial, transport and logistics, healthcare, and others. The BFSI sub-segment is predicted to grow significantly, and it is expected to cross $3,250.5 million by 2027.

Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific RFID market is anticipated to rise at a growth rate of 10.6% by 2027 from the revenue generated in 2019.

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The major key players in the RFID market players are Honeywell, NXP Semiconductors, Avery Dennison, Zebra Technologies, Impinj, HID Global, GAO RFID, Identiv, Invengo, Nedap and among others.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.


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