Press release
The Radio-Frequency Identification (RFID) Market is projected to reach USD 27.31 billion by 2034, growing at a CAGR of 9.0%
With a 2024 valuation of USD 11.58 billion, the radio-frequency identification (RFID) market is expected to develop at a CAGR of 9.0% from 2025 to 2034, growing from USD 12.60 billion in 2025 to USD 27.31 billion in 2034. Key reasons for the growth are:
• Increasing investments in the global logistics and warehousing industry are driving market expansion.
• The rising number of fashion retail stores is propelling the demand for RFID solutions.
• As investments in warehouses and intelligent supply chain solutions grow, the adoption of RFID is also on the rise.
• The increasing global defense expenditure is driving revenue in the radio-frequency identification market.
What Is Radio-Frequency Identification?
Radio-frequency identification (RFID) is a wireless technology that uses radio waves to identify and track objects or people using small tags (or transponders) that contain a microchip and an antenna, allowing for data transfer without physical contact or line of sight. When a reader comes into proximity of an RFID tag, it sends out radio waves, which power the tag and allow it to transmit its unique identifier or other stored data back to the reader. The reader then transmits this data to a computer or database for processing and tracking. RFID technology is used in a wide variety of industries and applications, including asset tracking, supply chain management, healthcare, retail, logistics, and transportation.
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Radio-Frequency Identification (RFID) Market Report Highlights
• In terms of offering, the tags segment accounted for a major RFID market share in 2024 due to the increasing adoption of inventory management solutions, supply chain optimization, and asset tracking tools across various industries such as retail, healthcare, and automotive.
• Based on tag type, the passive segment held the largest market share in 2024 due to its cost-effectiveness, wide application range, and ease of deployment across industries.
• In the global market, North America dominated the radio-frequency identification market share in 2024 due to the advanced technological infrastructure, high investment in automation, and established supply chain networks.
• The market in Asia Pacific is expected to grow at a robust pace during the forecast period, owing to rapid industrialization, e-commerce growth, and smart city initiatives.
Key Market Players
Key market participants are significantly investing in research and development to broaden their product range, which will further enhance the growth of the RFID market. Some of the key players in the market are:
• 3M
• Alien Technology, LLC
• AMERICAN RFID SOLUTIONS, LLC
• CAEN RFID S.r.l.
• GAO Group Inc.
• Honeywell International Inc.
• IBM Corporation
• Impinj, Inc.
• Mobile Aspects, Inc.
• Motorola Solutions, Inc.
• NewAge Industries, Inc.
• Radianse
• RF Technologies, Inc.
• SATO HOLDINGS CORPORATION
• Siemens
• STANLEY Healthcare
• STID
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Regional Analysis
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
Segmental Overview
• The radio-frequency identification (RFID) market is segmented based on tag type, offering, material, wafer size, frequency, application, form factor, industry vertical, and region.
• The tags segment, based on offering, held a significant share of the RFID market in 2024 as more industries embraced inventory management systems and asset-tracking technologies.
• In 2024, the passive segment, by tag type, accounted for the largest market share because of its affordability, extensive application scope, and simple implementation across various industries.
Radio-Frequency Identification (RFID) Market, Offering Outlook (Revenue, USD Billion, 2020-2034)
• Tags
• Readers
• Software & Services
Radio-Frequency Identification (RFID) Market, Tag Type Outlook (Revenue, USD Billion, 2020-2034)
• Passive
• Active
Radio-Frequency Identification (RFID) Market, Wafer Size Outlook (Revenue, USD Billion, 2020-2034)
• 8-Inch
• 12-Inch
• Other
Radio-Frequency Identification (RFID) Market, Material Outlook (Revenue, USD Billion, 2020-2034)
• Plastic
• Glass
• Paper
• Other
Radio-Frequency Identification (RFID) Market, Frequency Outlook (Revenue, USD Billion, 2020-2034)
• Low
• High
• Ulta-High
Radio-Frequency Identification (RFID) Market, Form Factor Outlook (Revenue, USD Billion, 2020-2034)
• Card
• Label
• Key Fob & Token
• Band
• Paper & Inlay
• Implantable
• Other
Radio-Frequency Identification (RFID) Market, Application Outlook (Revenue, USD Billion, 2020-2034)
• Inventory & Asset Management
• Security & Access Control
• Ticketing
• Other
Radio-Frequency Identification (RFID) Market, Industry Vertical Outlook (Revenue, USD Billion, 2020-2034)
• Automotive
• Healthcare
• Agriculture
• Retail
• Food
• Transportation
• Aerospace & Defense
• Entertainment
• Logistic & Warehousing
• Other
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