RFID In Industrial Application Market Size, Share Global Analysis Report, 2023 – 2030

Industry Insights

[184+ Pages Report] According to the report published by Facts Factors, the global RFID in industrial application market size was worth around USD 17.90 billion in 2022 and is predicted to grow to around USD 37.50 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.14% between 2023 and 2030. The report analyzes the global RFID in industrial application market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the RFID industrial application market.

The RFID In Industrial Application Market report analyzes and notifies the industry statistics at the global, regional, and country levels to acquire a thorough perspective of the entire RFID in the industrial application market. The historical and past insights are provided for FY 2020 to FY 2022 whereas projected trends are delivered for FY 2023 to FY 2030. The quantitative and numerical data is represented in value (USD Billion) from FY 2020 – 2030.

This specialized and expertise-oriented industry research report scrutinizes the technical and commercial business outlook of RFID in the industrial application industry. The report analyzes and declares the historical and current trends analysis of RFID in the industrial application industry and subsequently recommends the projected trends anticipated to be observed in the RFID in the industrial application market during the upcoming years.

Key Insights from Primary Research

• Wide-ranging interviews with ExOs of multiple companies operating in the RFID in the industrial application market directed towards a sizeable growth of RFID in the industrial application market with an anticipated CAGR of 11.14% for a period ranging from 2023 to 2030.
• Their projection indicates towards larger market value beyond USD 37.50 billion by 2030. Their insights have been further validated with our extensive analysis of RFID in the industrial application market conducted by expert research analysts.
• CXOs also believe that the Asia Pacific region will be the brightest spot for the expansion of RFID in the industrial application market. The North American region is expected to hold the largest market share.
• Based on the frequency type submarket, the ultra-high frequency is projected to be the fastest growing over the forecast period. The RFID tags are expected to continue higher demand among the product type.

Key Recommendations from Analysts

• Our analysts recommend a greater focus on the North American region owing to the enormous potential of the region mainly backed by the largest economy like the United States.
• A large industrial base, higher export volume, and larger warehouses are boosting factors, however near higher growth potential can be witnessed in major markets like China, India, and major countries of Europe.
• Our statistical analysis of future trends is directed toward faster growth of RFID in industrial applications during the years between 2023 to 2026 owing to heavy investments in infrastructure development within the Asia Pacific region.
• Our analysts predict the Asia-Pacific region to be the top investment pocket in the global RFID in the industrial application market owing to the rising penetration of advanced techniques.

The quantitative data is further underlined and reinforced by comprehensive qualitative data which comprises various across-the-board market dynamics. The rationales which directly or indirectly impact the RFID in industrial application industry are exemplified through parameters such as growth drivers, restraints, challenges, and opportunities among other impacting factors.

Throughout our research report, we have encompassed all the proven models and tools of industry analysis and extensively illustrated all the key business strategies and business models adopted in the RFID industrial application industry. The report provides an all-inclusive and detailed competitive landscape prevalent in the RFID in the industrial application market.

The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of RFID in the industrial application industry. The RFID in industrial application market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.

The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the RFID in the industrial application sector. Key strategic developments in the RFID in industrial application markets competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the RFID in industrial application market are appropriately highlighted in the report.

The RFID market in industrial applications is growing due to the rise in the number of RFID device tag suppliers thereby increasing the ease of access to RFID solutions in the market. Various tags have the ability to deliver frequency bands including monitoring, analysis, and inventory management through the advancement of cloud-based supply chain management systems. It allows end-users to know if there is no drug. It also leads to improving the supply chain by reducing future losses of finished products. This market activity is extremely favorable to the RFID industry as medium-sized retailers may deploy these tags.

Additionally, the important factors leading to the market growth are the essential safety of specific applications such as production process monitoring, inventory management, and long-distance reading object accessibility of RFID tags. Moreover, the advancement in the automobile industry has influenced the growth of global RFID in the automotive sector.

The RFID in industrial application market research report delivers an acute valuation and taxonomy of RFID In the Industrial Application industry by practically splitting the market on the basis of different products, frequency bands, applications,s and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2023 to FY 2030.

Report Scope

The regional segmentation of RFID in the industrial application industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa. Further, country-wise data for RFID in the industrial application industry is provided for the leading economies of the world.

RFID in the industrial application market is segmented based on product, frequency, and applications.  On the basis of product segmentation, the market is classified into tags, readers, and software. On the basis of frequency, the market is segmented into low frequency, high frequency, and ultrahigh frequency. In terms of application segmentation, the market is bifurcated into access control, livestock tracking, ticketing, cashless payment, and inventory management.

Some of the leading players in the global market include

• Invengo Technology Pte. Ltd.
•  Coridian Technologies Inc.
•  ELA Innovation
•  Vitaran Electronics
•  AB&R (American Barcode and RFID)
•  Balluff Inc.
•  AbeTech Corporate
• Imprint Enterprises
•  SMARTRAC Industries
• VisuaScan Inc

The taxonomy of the RFID in industrial application industry by its scope and segmentation is as follows:

By Product Type Segmentation Analysis

• Tags
• Readers
• Software

By FrequencySegmentation Analysis

• Low Frequency
• High Frequency
• Ultrahigh Frequency

By Application Segmentation Analysis

• Access Control 
• Livestock Tracking 
• Ticketing 
• Cashless Payment 
• Inventory Management

By Regional Segmentation Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

KEY BUSINESS POINTERS ADDRESSED & FOREMOST REASONS TO PROCURE THE REPORT:

• Statistical Analysis of the Past, Current, and Future Trends of the Industry with Validated Market Sizes Data
• Direct and Indirect Rationales Impacting the Industry
• In-depth and Micro Analysis of Viable Segments and Sub-segments
• Companies and Vendors Market Share, Competitive Landscape, and Player Positioning Analysis
• Demand Side (Consumption) and Supply Side (Production) Perspective and Analysis wherever applicable
• Key Buyers and End-Users Analysis
• Value Chain and Manufacturing Cost Structure Analysis wherever relevant
• Key Marketing Strategies as well as Key Sales Channels adopted in the market
• Investment Opportunity Analysis & Patents Analysis wherever feasible
• Technological Road Map & Technical Analysis
• Robust Research Methodology comprising dynamic mix (65%~35%) of Extensive Primary Research (primary interviews, ad-hoc surveys, questionnaires) and Protracted Secondary Research (proprietary in-house database, paid external databases, publically available validated sources)