The global RFID Equipment market accounted for USD 14.5 Billion in 2020 and is expected to reach USD 63.7 Billion by 2028, growing at a CAGR of 20.1% from 2021 to 2028.
Market Overview
The global RFID Equipment market accounted for USD 14.5 Billion in 2020 and is expected to reach USD 63.7 Billion by 2028, growing at a CAGR of 20.1% from 2021 to 2028.
Radio Frequency Identification (RFID) is a small electronic device consisting of a small chip, antenna and a two-way transmitter-receiver called interrogator. Radio waves are used to read the electronically stored information on the tags or objects. The technological advancements in RFIDs have resulted in real-time tracking of objects, animals, and other things by using electromagnetic fields. There are two types of RFID tags namely passive and active. The passive RFID tag does not contain a battery and the power is supplied by the reader.
COVID-19 Impact Analysis:
The global RFID Equipment market has witnessed a slight decline during the pandemic as the restrictions imposed by various nations to contain COVID had stopped the production resulting in a disruption across the whole supply chain. However, the global markets are slowly opening to their full potential and theirs a surge in demand.
The market would remain lucrative in upcoming year. The decrease in the global RFID Equipment market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
Growth Factors
RFIDs are used widely in various industries such as healthcare, logistics and transportation, security and access control, automotive, sports, retail, animal tracking, aerospace, defense and others. Due to its widened use, the market is anticipated to witness a significant growth in forecast horizon. Further, the increasing use of RFID technology in various verticals and low cost of RFIDs are expected to be the major factors driving the growth of this market. In addition, use of RFID technology in inventory management is expected to boost the growth of RFID equipment market in coming years. Inventory management involves keeping track of products or objects, storage of components required for production and monitoring the quantity of finished products. This is considered as one of the important drivers of this market because a slight negligence in inventory management can lead to a substantial financial loss. Furthermore, several governments have made animal tagging mandatory in order to track and monitor the animals using their unique Animal Identification Number (AIN).
However, high installation cost and maintenance cost of RFIDs are expected to be the factors restraining the growth of this market. Device inoperability away from the hostile environment is a major challenge for the market. In coming years, the wide use of RFIDs in public transportation, healthcare, animal tracking is expected to provide major potential opportunities for RFID equipment manufacturers.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Segment Analysis Preview
The segmentation of RFID equipment market is made on the basis of product, wafer-size, frequency, applications, and region. On a product basis, the segmentation is tags, reader, and software. Whereas, on the basis of wafer-size RFID equipment market is categorized as 200mm, 300m, and others. Further, frequency wise the classifications are low, high, and ultra-high frequencies. Furthermore, on an application basis, they are divided into aerospace, defense, healthcare, animal tracking, retail, sports, security and access control, transportation and others.
On the basis of product type, RFID tags segment is expected to dominate the global market owing to the increasing demand for RFID tags in the healthcare sector for the tracking and classification of medical instruments. In addition to this, upsurge in penetration of advanced technologies such as RAIN RFID tag in various industry verticals drives growth of this segment. Moreover, the aerospace and automotive industry is adopting the RFID technologies for inventory management of spare parts, the tracking of vehicles, and visibility in logistics operations. However, software segment is expected to witness highest growth rate during the forecast period.
Regional Analysis Preview
The region that is having an influential share in the Global RFID Equipment Market is North America region. Owing to the huge developments and a higher rate of adoption, North America RFID Equipment market contributes the highest market in 2020. In addition, the large automotive tires market in the region drives growth of the market.
Whereas huge demand for the RFID devices from retail and consumer goods industry verticals are like to boost the RFID Equipment market in the Asia Pacific. The RFID Equipment market in this region is likely to grow at a highest CAGR over the forecast period.
Key Market Players & Competitive Landscape
Some of key players in RFID Equipment Market are Savi Technology, Inc., Intermec Inc., Zebra Technologies Corporation, NXP Semiconductors, Avery Dennison, Checkpoint Systems Inc., Gemalto NV, Motorola and Alien Technology among others.
The global RFID Equipment Market is segmented as follows:
By Product Type
By Wafer-size Type
By Frequency Type
By Application
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Product Type
FIG NO. 2. Market Attractiveness Analysis, By Wafer-size Type
FIG NO. 3. Market Attractiveness Analysis, By Frequency Type
FIG NO. 4. Market Attractiveness Analysis, By Application
FIG NO. 5. Market Attractiveness Analysis, By Region
FIG NO. 6. Global RFID Equipment Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 7. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 8. Market Revenue Share, By Product Type, 2020 & 2028
FIG NO. 9. Global RFID Equipment Market for Tags, Revenue (USD Billion) 2016 – 2028
FIG NO.10. Comparative Revenue Analysis of RFID Equipment Market for Tags, By Country, 2020 & 2028
FIG NO. 11. Global RFID Equipment Market for Readers, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of RFID Equipment Market for Readers, By Country, 2020 & 2028
FIG NO. 13. Global RFID Equipment Market for Software, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of RFID Equipment Market for Software, By Country, 2020 & 2028
FIG NO. 15. Market Revenue Share, By Wafer-size Type, 2020 & 2028
FIG NO. 16. Global RFID Equipment Market for 200mm, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of RFID Equipment Market for 200mm, By Country, 2020 & 2028
FIG NO. 18. Global RFID Equipment Market for 300mm, Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of RFID Equipment Market for 300mm, By Country, 2020 & 2028
FIG NO. 20. Global RFID Equipment Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of RFID Equipment Market for Others, By Country, 2020 & 2028
FIG NO. 22. Market Revenue Share, By Frequency Type, 2020 & 2028
FIG NO. 23. Global RFID Equipment Market for Low, Revenue (USD Billion) 2016 – 2028
FIG NO. 24. Comparative Revenue Analysis of RFID Equipment Market for Low, By Country, 2020 & 2028
FIG NO. 25. Global RFID Equipment Market for High, Revenue (USD Billion) 2016 – 2028
FIG NO. 26. Comparative Revenue Analysis of RFID Equipment Market for High, By Country, 2020 & 2028
FIG NO. 27. Global RFID Equipment Market for Ultra-high, Revenue (USD Billion) 2016 – 2028
FIG NO. 28. Comparative Revenue Analysis of RFID Equipment Market for Ultra-high, By Country, 2020 & 2028
FIG NO. 29. Market Revenue Share, By Application, 2020 & 2028
FIG NO. 30. Global RFID Equipment Market for Healthcare, Revenue (USD Billion) 2016 – 2028
FIG NO. 31. Comparative Revenue Analysis of RFID Equipment Market for Healthcare, By Country, 2020 & 2028
FIG NO. 32. Global RFID Equipment Market for Aerospace, Revenue (USD Billion) 2016 – 2028
FIG NO. 33. Comparative Revenue Analysis of RFID Equipment Market for Aerospace, By Country, 2020 & 2028
FIG NO. 34. Global RFID Equipment Market for Defense, Logistics and transportation, and Retail, Revenue (USD Billion) 2016 – 2028
FIG NO. 35. Comparative Revenue Analysis of RFID Equipment Market for Defense, Logistics and transportation, and Retail, By Country, 2020 & 2028
FIG NO. 36. Global RFID Equipment Market for Security and access control application, Revenue (USD Billion) 2016 – 2028
FIG NO. 37. Comparative Revenue Analysis of RFID Equipment Market for Security and access control application, By Country, 2020 & 2028
FIG NO. 38. Global RFID Equipment Market for Automotive, Revenue (USD Billion) 2016 – 2028
FIG NO. 39. Comparative Revenue Analysis of RFID Equipment Market for Automotive, By Country, 2020 & 2028
FIG NO. 40. Global RFID Equipment Market for Animal Tracking, Revenue (USD Billion) 2016 – 2028
FIG NO. 41. Comparative Revenue Analysis of RFID Equipment Market for Animal Tracking, By Country, 2020 & 2028
FIG NO. 42. Global RFID Equipment Market Revenue Share, By Region, 2020 & 2028
FIG NO. 43. North America RFID Equipment Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 44. Porter’s Five Forces Analysis for Global RFID Equipment Market
FIG NO. 45. PEST Analysis for Global RFID Equipment Market
FIG NO. 46. Pricing Analysis for Global RFID Equipment Market
FIG NO. 47. Value Chain Analysis for Global RFID Equipment Market
FIG NO. 48. Company Share Analysis, 2019
FIG NO. 49. Radar Determinant Chart, 2019
FIG NO. 50. Company Strategic Developments – Heat Map Analysis
FIG NO. 51. SAVI TECHNOLOGY, INC. Business Segment Revenue Share, 2020 (%)
FIG NO. 52. SAVI TECHNOLOGY, INC. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 53. Market Channels
FIG NO. 54. Marketing Channel Development Trend
FIG NO. 55. Growth in World Gross Product, 2008-2018
FIG NO. 56. Research Methodology – Detailed View
FIG NO. 57. Research Methodology
List of Tables
TABLE NO. 1. Global RFID Equipment Market: Snapshot
TABLE NO. 2. Quarterly RFID Equipment Market Revenue by Region, 2020
TABLE NO. 3. Quarterly RFID Equipment Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global RFID Equipment Market for Tags, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global RFID Equipment Market for Readers, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global RFID Equipment Market for Software, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global RFID Equipment Market for 200mm, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global RFID Equipment Market for 300mm, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global RFID Equipment Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global RFID Equipment Market for Low, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global RFID Equipment Market for High, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global RFID Equipment Market for Ultra-high, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global RFID Equipment Market for Healthcare, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global RFID Equipment Market for Aerospace, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. Global RFID Equipment Market for Defense, Logistics and transportation, and Retail, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 18. Global RFID Equipment Market for Security and access control application, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 19. Global RFID Equipment Market for Automotive, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 20. Global RFID Equipment Market for Animal Tracking, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 21. Global RFID Equipment Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 22. North America RFID Equipment Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 23. North America RFID Equipment Market Revenue, By Product Type, 2016 – 2028 (USD Billion)
TABLE NO. 24. North America RFID Equipment Market Revenue, By Wafer-size Type, 2016 – 2028 (USD Billion)
TABLE NO. 25. North America RFID Equipment Market Revenue, By Frequency Type, 2016 – 2028 (USD Billion)
TABLE NO. 26. North America RFID Equipment Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 27. U.S. RFID Equipment Market Revenue, By Product Type, 2016 – 2028 (USD Billion)
TABLE NO. 28. U.S. RFID Equipment Market Revenue, By Wafer-size Type, 2016 – 2028 (USD Billion)
TABLE NO. 29. U.S. RFID Equipment Market Revenue, By Frequency Type, 2016 – 2028 (USD Billion)
TABLE NO. 30. U.S. RFID Equipment Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 31. Canada RFID Equipment Market Revenue, By Product Type, 2016 – 2028 (USD Billion)
TABLE NO. 32. Canada RFID Equipment Market Revenue, By Wafer-size Type, 2016 – 2028 (USD Billion)
TABLE NO. 33. Canada RFID Equipment Market Revenue, By Frequency Type, 2016 – 2028 (USD Billion)
TABLE NO. 34. Canada RFID Equipment Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 35. Mexico RFID Equipment Market Revenue, By Product Type, 2016 – 2028 (USD Billion)
TABLE NO. 36. Mexico RFID Equipment Market Revenue, By Wafer-size Type, 2016 – 2028 (USD Billion)
TABLE NO. 37. Mexico RFID Equipment Market Revenue, By Frequency Type, 2016 – 2028 (USD Billion)
TABLE NO. 38. Mexico RFID Equipment Market Revenue, By Application, 2016 – 2028 (USD Billion)
TABLE NO. 39. Drivers for the RFID Equipment Market: Impact Analysis
TABLE NO. 40. Restraints for the RFID Equipment Market: Impact Analysis
TABLE NO. 41. Major Buyers of Beverage Packaging
TABLE NO. 42. Distributors/Traders List of Beverage Packaging
TABLE NO. 43. Global RFID Equipment Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 44. Global RFID Equipment Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global RFID Equipment market. Zion Research has collected and analyzed key data belong to the global RFID Equipment market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of RFID Equipment across the world has been calculated through primary and secondary research.
Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in validation of findings from secondary research and to understand key trends in the RFID Equipment industry. Primary research makes up the major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the RFID Equipment market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Radio Frequency Identification (RFID) is the technology which uses electromagnetic fields to automatically track the tags attached to objects. The tags contain electronically stored information which is read by using radio waves. Advancements in RFID technology has resulted in real-time tracking of objects, animals, and other things. The information on the tag can be read from a distant location and need not be within the line-of-sight of the reader. The RFID system consists of two parts: a tag and a reader. Tags are embedded with a transmitter and a receiver. A reader which is a two-way radio transmitter and receiver; which emits a signal to the tag using an antenna, to read the information encoded on the tag. The tag responds with the information present in its memory slot. Then the reader will transmit the collected data to a RFID computer program.
The chip-less factor of RFID has given it a new dimension of tracking the objects, due to which various verticals find the use of RFIDs. The lower prices of RFID tags or labels and the increasing use of RFID technology in various verticals are expected to drive the growth of this market. One of the main drivers for this market is the rising need for inventory management. Inventory management involves keeping track of products, assets or objects, storage of components required for production and monitoring the quantity of finished products. Any negligence in inventory management can lead to substantial financial losses. Further, RFIDs are widely used in healthcare industry ranging from patient identification, tracking medical equipment and for several other functions. Due to the use of RFIDs in various industries such as healthcare, logistics and transportation, aerospace, warehouse and distribution activities, security and access control applications, animal tracking, automotive, defense and military, retail, sports and others this market is anticipated to witness significant growth in the forecast period. RFIDs are used for tagging of animals. The ear tag is a plastic or metal object used for the identification of domestic livestock and other animals. This is expected to be an important driver for RFID equipment market as various governments are making it mandatory to tag the animals so that they can be monitored and tracked using their Animal Identification Number (AIN). However, presently high installation cost of RFID systems is a major factor restraining the growth of this market. In addition, the necessary maintenance for both tags and readers has often led to an unexpected level of through-life maintenance cost which also is a restraint for the market. The inoperability of the device away from hostile physical conditions is expected to be the main challenge for this market. In coming years, the wide use of RFIDs in public transportation, healthcare, animal tracking is expected to provide major potential opportunities for RFID equipment manufacturers.
The market is segmented on the basis of product, wafer size, frequency, applications, and region. On a product basis, the market is segmented as tags, reader, and software. Under wafer size, it is categorized as 200mm, 300m, and others. Whereas, on a frequency basis, they are divided into low, high, and ultra-high. Further application wise they are categorized into aerospace, defense, healthcare, animal tracking, retail, sports, security and access control, transportation and others. Regional segmentation is as North America, South America, Europe, Asia Pacific, the Middle East and Africa.
The some of the leading players operating in the global RFID equipment market are Avery Dennison, Alanco Technologies, Inc, Hitachi Ltd., Savi Technology, Inc., Intermec Inc., Motorola Inc., NXP Semiconductors and Zebra Technologies Corporation amongst others.
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The global RFID Equipment Market was valued at USD 14.5 Billion in 2020.
The global RFID Equipment Market is expected to reach USD 63.7 Billion by 2028, growing at a CAGR of 20.1% between 2021 to 2028.
The key factor driving the global RFID Equipment Market growth is increasing use of RFID technology in various verticals and low cost of RFIDs.
North America ruled the RFID Equipment with a significant share for the year 2020 in terms of income followed by Asia Pacific and Europe.
Some of the major companies operating in RFID Equipment Market are Savi Technology, Inc., Intermec Inc., Zebra Technologies Corporation, NXP Semiconductors, Avery Dennison, Checkpoint Systems Inc., Gemalto NV, Motorola and Alien Technology among others.
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