Chicago, March 10, 2024 (GLOBE NEWSWIRE) — The RFID market is projected to reach USD 40.9 billion by 2032 from USD 15.8 billion in 2023; it is expected to grow at a CAGR of 11.1% from 2023 to 2032. The RFID market is being propelled by several key factors, including a growing demand for RFID technology in manufacturing facilities to enhance productivity, the availability of affordable RFID solutions with promising returns on investment, a rising necessity to enhance inventory management, and the increasing number of government initiatives and regulations aimed at bolstering safety and security.
RFID technology has emerged as a contemporary solution for both industrial and consumer sectors, driven by the growing integration of information technologies. An RFID solution consists of a label or tag and a reader for seamless tag communication. The introduction of handheld and sled readers has significantly bolstered the functionality of RFID solutions, enabling cost-effective asset tracking. RFID tag technology has evolved from short-range reading to active frequency tags capable of tracking assets over distances exceeding 100 meters. These active frequency tags are not limited to standalone asset tracking but also enable real-time monitoring of mobile assets and personnel.
To know about the assumptions considered for the study download the pdf brochure
They are now widely employed in industries like transportation, logistics, supply chain, retail, and defense for real-time asset tracking. With ongoing technological advancements and innovations, passive ultra-high frequency RFID has been further divided into a new band (860 to 960 MHz) known as RAIN RFID. The adoption of RAIN RFID has experienced substantial growth, reaching numerous suppliers in the ecosystem and establishing itself as the most widely adopted RFID frequency globally. The continued progress in RFID technology and increased price competitiveness have empowered RFID solution providers to embrace hybrid technology. Integrating RFID with existing end-user communication technologies has become a strategic approach to reduce initial investments and expand market reach, as standalone RFID installations can be capital-intensive, particularly for large-scale deployments. Presently, RFID solutions not only furnish asset data but also enable the analysis of such data to gain insights into various aspects such as asset lifecycle management, production cycles, customer behavior analysis, predictive maintenance, and more within their respective industries.
RFID companies include:
- Zebra Technologies Corp. (US),
- Alien Technology, LLC (US),
- CAEN RFID S.r.L. (Italy),
- Impinj, Inc. (US),
- Avery Dennison Corporation (US),
- Honeywell International Inc.(US),
- NXP Semiconductors (Netherlands),
- GAO Group (Canada),
- HID Global Corporation (US),
- Invengo Information Technology Co., Ltd. (China),
- Infotek Software & Systems (P) Ltd (i-TEK) (India),
- Bartronics India Limited (India),
- Bartech Data Systems Pvt. Ltd., ORBCOMM Inc. (US),
- GlobeRanger (US),
- Mojix (US),
- SAG Securitag Assembly Group Co., Ltd. (Taiwan),
- Linxens (France),
- Checkpoint Systems, Inc. (US),
- Identiv, Inc. (US),
- Confidex (Finland),
- Datalogic S.p.A. (Italy),
- Nedap N.V. (Netherlands),
- Jadak (US)
Avery Dennison Corporation (US)
The company operates across three primary business segments: Materials Group (formerly encompassing Label and Graphic Materials as well as Industrial and Healthcare Materials), and Solutions Group (formerly Retail Branding and Information Solutions). Within its product portfolio, the company provides UHF RFID inlays, HF RFID inlays, and NFC RFID inlays. Under the Retail Branding and Information Solutions (RBIS) segment, the company delivers branding solutions, covering creative services, brand enhancements, graphic tickets, RFID inlays, tags, and labels, in addition to packaging solutions targeted at retailers, apparel manufacturers, and brand owners.
RBIS information solutions encompass item-level RFID solutions, visibility and loss prevention solutions, price ticketing and marking solutions, care, content, and country of origin compliance solutions, and brand protection and security solutions. Avery Dennison Corporation boasts an extensive array of inlays, tags, and sensor-based RFID solutions, underpinned by more than 800 patents, offering a significant technological advantage. With the acquisition of Smartrac (Netherlands), a prominent inlay and tag manufacturer, the company has secured a leading position in the RFID market. Focusing on large-scale adoption at major retailers is pivotal to its enduring success in the RFID inlays and tags sector, and this strategy has translated into consistent revenue growth. With a diverse range of RFID products, the company reinforces its position in the market, further strengthening its competitive stance with the introduction of new RFID Inlays and Tags in 2022. Avery Dennison Corporation stands as a prominent player in the inlay market, providing solutions to retailers, apparel manufacturers, and brand owners. Its expansion strategy revolves around swift product launches and partnerships with key players in the RFID ecosystem, such as SUKU (US) and Impinj, Inc. (US).
Zebra Technologies Corp. (US)
The company operates within two primary business segments: Asset Intelligence & Tracking and Enterprise Visibility & Mobility. The Asset Intelligence & Tracking segment focuses on products like barcode scanners, imagers, printers, location solutions, printing supplies, and associated services, serving the RFID market. Its key client industries include healthcare, retail, manufacturing, hospitality, transportation, and logistics. The company’s RFID solutions encompass active and passive RFID tags, beacons, and other tracking devices for locating, managing, and optimizing valuable assets, equipment, and personnel. With a global presence spanning North America, Europe, APAC, the Middle East, Africa, and South America, Zebra Technologies Corp. is a prominent RFID solutions provider, offering a wide-ranging product portfolio to support applications like asset tracking, identification, personnel tracking, and logistics management. These solutions aid industries in asset tracking and maintenance cost reduction. The company has a worldwide footprint, boasting engineering and manufacturing facilities in North America, Europe, and Asia, along with a robust global sales and engineering support network to effectively serve its customers. Zebra is actively investing in and developing various complementary technologies alongside RFID, including UWB, Wi-Fi, BLE, GPS, and hybrid technologies. Its proprietary hybrid technology, the Location Engine Platform/Software, facilitates data collection from multiple technologies. Zebra supports the growth of its RFID business by providing a comprehensive array of solutions, including readers, labels, printers, and reader tools. Substantial investments in research and development, ranging from 9-10% of its revenue, have resulted in numerous product launches in the RFID market, highlighting the company’s dedication to technological advancement. Zebra Technologies Corp. is uniquely positioned to foster the evolution of RFID technology, given its strong financial capabilities and ongoing investments in research and development, particularly in readers and printers. In 2022, the company allocated nearly USD 570 million to research and development activities, underlining its commitment to innovation. With approximately 2,000 engineers and innovation and design experts globally, the company focuses on expanding and enhancing its product and solution portfolio.
