RFID Market is Anticipated to reach $ 36 billion by 2030: Business Market Insights

The RFID market is expected to cross US$ 13.50 billion in 2022 and is projected to hit US$ 36 billion by 2030, recording a CAGR of 12% during the forecast period.

The emergence of smart-sensing RFID solutions is expected to have a snowballing impact of RFID market. Development of smart-sensing RFID would bring IoT to modern warehouse. In new solutions, sensors will permit the system to track temperature and different factors which could influence the supply chain operations. Therefore, development of advanced RFID solutions would create lucrative business opportunities for RFID market players. Moreover, with rising applications of RFID such as inventory control, vehicle tracking, and inventory management, the scope of using RFID tags is getting broaden which in turn is fueling the RFID market.

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Top Key Players Listed in the RFID Market 2022 - 2030 Report Are:
o 3M Company
o Checkpoint Systems, Inc.
o Zebra Technologies Corporation
o BASF SE
o Alien Technology Corporation

RFID Market 2022 - 2030 report offers insights into the newest growth and trends. It summarizes crucial aspects of the market, with target on leading key player's areas that have witnessed the highest demand, leading regions and operations. RFID market 2022 - 2030 offers qualitative as well as quantitative information data relating to the factors, challenges, and opportunities that may define the expansion of the market over the forecast period. The report aims to supply a further illustration of the newest scenario, economic slowdown, and COVID-19 impact on the overall industry.

In this report, the market has been segmented on the basis of:

• Communication Frequency:
o Low & High Frequency Band
o Ultra-High Frequency Band

• Product
o RFID reader
o RFID Middleware & Services
o RFID Tag

• Type
o Battery-Assisted Passive
o Active & Passive RFID

• Application
o Government
o Automation & transportation
o Manufacturing
o Healthcare
o BFSI
o Retail
o Others

• Region
o North America
o Europe
o Asia Pacific
o South & Central America
o Middle East & Africa

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Recent strategic developments in RFID market
The RFID market has undergone several significant developments, and a few of these have been mentioned below:
• In September 2022, Avery Dennison Label & Packaging Materials has showcased RFID/intelligent labeling capabilities. As the demand for RFID in labeling industry is gaining momentum, the company is seeking forward to introduce intelligent label solutions.
• In August 2022, the leading automation provider in Medication Intelligence named Kit Check has declared about incorporation of RFID technology in new KinetiX Propofol syringes. These syringes are developed by a pharmaceutical company Genixus. As Propofol is one of a commonly used products in health and hospitals systems, Kit Check is focusing on changing acute and critical care medicines.

The RFID Market 2022 - 2030 Competitive Viewpoint:
This analysis is a useful resource for investors, shareholders, industry planners, and new and existing businesses trying to broaden their reach within the current Market situation. While focusing on top companies and their corporate strategies, market presence, operative segmentation, aggressive outlook, geographical growth, pricing and price structures, the study painstakingly takes into consideration the market analysis.

Reason to buy this report:
• Understand the Current and future of the RFID Market in both Established and rising markets.
• The report enlightens the massive patterns, causes, and impact factors globally and regionally.
• The latest developments within the RFID market and details of the industry leaders alongside their market share and methods.
• It looks into vital developments like extensions, agreements, new product launches, and acquisitions on the horizon.
• Analysis the market's potential, preferred position, opportunity, difficulty, restrictions, and hazards on a world and regional level.

Customized Analysis report:
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About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.