Authored By: Sarah
11 Jul 2024

 RFID Market for Industrial Applications Market to grow by USD 2677.78 million between 2023-2027

According to a research report “ RFID Market for Industrial Applications Market” by Product (RFID tags, Middleware, Passive RFID systems, Active RFID systems ) Type (High frequency, Ultra-high frequency, Low frequency ) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2027 published by Technavio, the market size is estimated to grow by USD 2677.78 million at a CAGR of  10.63% during the forecast period. In the context of Industry 4.0's evolution, RFID technology plays a pivotal role in the industrial applications market. This technology facilitates real-time data access and exchange, enabling advanced communication and monitoring systems. IoT-connected RFID ecosystems offer increased automation, self-diagnosis, and new levels of analysis. Industry 4.0's transformation includes RFID, characterized by data exchange, cloud services, cyber-physical systems, AI, and autonomous techniques. RFID's integration into Industry 4.0 enhances productivity by optimizing inventory management, streamlining supply chains, and improving overall operational efficiency..

Browse market data tables, figures, and in-depth TOC on “RFID Market for Industrial Applications Market” by Product (RFID tags, Middleware, Passive RFID systems, Active RFID systems ) Type (High frequency, Ultra-high frequency, Low frequency ) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2027.

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By Product, the RFID tags segment is projected to dominate the market size in 2024.

In the industrial sector, High Frequency (HF) RFID technology, operating within the 13.56 MHz frequency range, offers a harmonious blend of close proximity and broader coverage. This technology's unique features make it indispensable for applications demanding higher data transfer rates and robust security. HF RFID is extensively utilized in Near Field Communication (NFC) applications, such as contactless payment systems and access control, ensuring seamless interaction between devices and enhanced security.

By Type, High frequency  segment is expected to hold the largest market size for the year 2024.

In the industrial sector, RFID (Radio Frequency Identification) technology has emerged as a game-changer for streamlined operations and enhanced efficiency. RFID tags, comprised of an antenna and an IC (Integrated Circuit), facilitate data exchange with readers through radio waves. These tags are integral to RFID systems, which offer advantages such as real-time tracking and automatic data capture, surpassing the limitations of barcode technology. Despite higher costs, RFID tagging is a preferred choice for industries seeking to optimize supply chain management and inventory control.

North America is forecasted to hold the largest market size by region in 2024.

The Americas, driven by a robust industrial sector, leads the global RFID market for industrial applications. Key contributors include automotive giants like Ford Motor and Tesla, consumer electronics powerhouses such as Apple, and aerospace and defense industries. Prominent vendors, Zebra and Honeywell, have established long-term presence, fostering RFID adoption. The US, with its automotive industry resurgence due to declining oil prices, and increasing automation investments, will fuel RFID demand.

The RFID Market for Industrial Applications Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alien Technology LLC
  • ASSA ABLOY AB
  • Avery Dennison Corp.
  • CAEN RFID S.r.l.
  • CCL Industries Inc.
  • CipherLab Co. Ltd.
  • CoreRFID Ltd.
  • Datalogic SpA
  • GAO Group Inc.
  • Honeywell International Inc.
  • Impinj Inc.
  • Mojix Inc.
  • NXP Semiconductors NV
  • Pepperl and Fuchs SE
  • RFID4U
  • Terso Solutions Inc.
  • Ubisense Ltd.
  • Unitech Computer Co. Ltd.
  • Willion Frick and Co.
  • Zebra Technologies Corp.
.

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Research Analysis Overview

In the industrial sector, RFID technology has emerged as a game-changer, revolutionizing various applications through its contactless data transfer capabilities. The RFID Market encompasses mountable tags, which are essential for industrial applications such as toll booths and manufacturing facilities. The DoseID Consortium, a leading organization in the pharmaceutical industry, has adopted RFID technology to ensure the security and safety of their products, including Rocuronium Bromide Injection from Fresenius Kabi. Correios and other logistics providers utilize RFID technology for vehicle identification and electronic toll collection systems. RFID solutions, including TagMaster's affordable offerings, enhance productivity by streamlining processes and reducing manual labor. EHR/ERP systems integrate RFID technology, enabling real-time tracking and monitoring of inventory and assets. Blockchain technology further strengthens RFID's security features, ensuring data integrity and authenticity. RFID technology comes in various forms, including RAIN RFID (UHF), NFC (HF), and Dual-Frequency (DF) series, catering to diverse industrial requirements. Electronic circuitry advances continue to drive down costs and increase efficiency, making RFID an indispensable tool for industrial applications.

Market Research Overview

In the industrial sector, RFID technology has gained significant traction due to its ability to enhance supply chain visibility, asset management, and inventory management in various applications. RFID-tagged tires, for instance, are used in manufacturing and logistics to monitor tire inventory and prevent misplacement or stockouts. RFID reader technology, which includes mountable tags, embedded tags, and tags in the form of tie wraps, key fobs, wristbands, tickets, cards, labels, ring tags, and batteries, plays a crucial role in automatic identification and data collection. EHR/ERP systems, blockchain, and chip technology are increasingly being integrated with RFID systems to ensure data protection, privacy, and security. In the retail sector, RFID technology is used for omnichannel retail, restocking processes, and smart shelves to improve the shopping experience and e-commerce operations. RFID readers, which come in various frequencies such as ultra-high-frequency (UHF), high-frequency (HF), and low-frequency (LF), have different transmission ranges and technical limitations. Cost-effective RFID solutions are available from companies like Avery Dennison, Trace-ID, PervasID, Contrinex, AccelerateGov, NXP NTAG Semiconductors, and others. RFID technology is also used in manufacturing processes for asset management, logistics, and economies of scale. In the healthcare sector, RFID technology is used for inventory management, data protection, and privacy, with applications including RAIN RFID (UHF) and NFC (HF) for tracking medical supplies and pharmaceuticals like Rocurium Bromide Injection from Fresenius Kabi. RFID systems' architecture includes readers, tags, software components, and electronic circuitry, and technical limitations include interference and read range. RFID technology is also used in vehicle identification systems like FASTag for toll fees and automatic identification at entry/exit lanes, gantry, and toll booths.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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