Indian RFID Market Global Scenario, Market Size, Outlook, Trend, and Forecast, 2019 – 2028

The Indian RFID market is valued at US$ 523.9 million in 2020 and is anticipated to reach US$ 1,865.3 million by 2028; growing at a compound annual growth rate (CAGR) of 14.2% from 2021 – 2028. RFID (Radio Frequency Identification), is a system which identifies certain items, humans, animals, automobiles, and others by tracking & communicating through radio waves. The systems of RFID use electromagnetic fields to track down the tags which are attached to the items. Tags contain a microchip and an antenna which further helps in wirelessly tracking down the objects. When the electromagnetic pulse from RFID reader device triggers the tags, the tag starts giving information to the reader device. India is witnessing immense growth in the usage of RFID systems for easier tracking, automatic identifications, database management, access controls, security & surveillance, logistics & supply chain and inventory control.
However, the main reason of the vast popularity & adoption of RFID systems is that it can detect the tag signals from several feet away as well. FASTag devices uses RFID technology at its core for electronic toll collection at the National Highways. The main goal of FASTag is to opt for cashless toll collection which will benefit by preventing traffic jams. Indian government has ordered RFID tags to be mandatory on all the automobiles to smoothly collect the tolls. The NPC (National Payment Collection) of India has promised the safety of data on the behalf of FASTag & RFID systems. Companies like i-TEK & Bar Code India Limited are leading companies of the market and PVL Tag Factory is the major producer of tags. However, the rift in the relationships between China & India leading to ban on exports & imports has majorly affected the Indian RFID market.

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The Indian RFID market is bifurcated into Product type, Application and Frequency.
Indian RFID market outlook – FASTag is that one big device name which uses RFID systems extensively.
Maharashtra & Gujarat in western region and Tamil Nadu, Karnataka & Andhra Pradesh in south are the major cities which has seen massive developments in the usage of RFID technology in India.
Prominent players of the RFID systems in India are – Bartronics India Limited, Infotek Software & Systems Ltd. (i-TEK), Bar Code India Limited (BCI), NXP Semiconductors N.V., NXP Semiconductors N.V., Zebra Technologies Corporation, Avery Dennison Corporation, Alien Technology LLC., Identiv, Inc., and Honeywell International Inc.

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