The research study involved 4 major activities in estimating the size of the RFID market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the value chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, various secondary sources have been referred to for identifying and collecting information required for this study. The secondary sources include annual reports, press releases, investor presentations of companies, white papers, and articles from recognized authors. Secondary research has been mainly done to obtain key information about the market’s value chain, the pool of key market players, market segmentation according to industry trends, regional outlook, and developments from both market and technology perspectives.
In the RFID market report, the global market size has been estimated using both the top-down and bottom-up approaches, along with several other dependent submarkets. The major players in the market were identified using extensive secondary research, and their presence in the market was determined using secondary and primary research. All the percentage shares splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Primary Research
Extensive primary research has been conducted after understanding the RFID market scenario through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across 4 major regions—North America, Europe, Asia Pacific, and Rest of the World. Approximately 25% of the primary interviews have been conducted with the demand-side vendors and 75% with the supply-side vendors. Primary data has been collected mainly through telephonic interviews, which consist of 80% of the total primary interviews; questionnaires and emails have also been used to collect the data.
After successful interaction with industry experts, brief sessions were conducted with highly experienced independent consultants to reinforce the findings of our primary research. This, along with the in-house subject matter experts’ opinions, has led us to the findings as described in the report.
Note: “Others” includes sales, marketing, and product managers
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the market engineering process, both top-down and bottom-up approaches, along with data triangulation methods, have been used to estimate and validate the size of the RFID solutions and services and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
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Identifying top-line investments and spending in the ecosystem and considering segment-level splits and major market developments
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Identifying different stakeholders in the RFID market that influence the entire market, along with participants across the supply chain
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Analyzing major manufacturers and service providers in the RFID market and studying their solutions
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Analyzing trends related to the adoption of RFID
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Tracking recent and upcoming market developments, including investments, R&D activities, product launches, expansions, collaborations, acquisitions, and partnerships, as well as forecasting the market size based on these developments and other critical parameters
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Carrying out multiple discussions with key opinion leaders to identify the adoption trends of RFID solutions and services
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Segmenting the overall market into various other market segments
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Validating the estimates at every level through discussions with key opinion leaders, such as chief executives (CXOs), directors, and operation managers, and finally with the domain experts at MarketsandMarkets
RFID Market : Top-Down and Bottom-Up Approach
Data Triangulation
After arriving at the overall market size by the market size estimation process explained in the earlier section, the overall RFID market has been divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments, the data triangulation and market breakdown procedures have been used, wherever applicable. The data has been triangulated by studying various factors and trends from both the demand and supply side perspectives. Along with data triangulation and market breakdown, the market has been validated by top-down and bottom-up approaches.
Market Definition
Radio Frequency Identification (RFID) is a technology that uses electromagnetic fields to automatically identify and track tags attached to objects. The tags contain electronically stored information and are either active, powered by a battery, or passive, by the signal of the RFID reader. There are three main parts of an RFID system: a tag, a reader, and a software system for data processing. This technology allows for efficient collection and management of data, greatly reducing human effort and error. RFID technology is applied in many industries, such as retail, logistics & warehousing, healthcare, aerospace & defense, and automotive. In retail, it is used in managing the inventory, preventing theft, and optimizing the supply chain. It enhances tracking and tracing in the logistics sector. In the healthcare sector, it is applied in patient tracking, equipment management, and drug authentication. The growth in the RFID market is heavily dependent on factors like automation, real-time data visibility, and upgrading the tracking system. The key benefits associated with it include tiny size for RFID tags, maximum range of reading, IoT-based, and cloud integration. In the near future, further research and development about the technology are expected to explore new applications and strengthen RFID technology in modern industrial as well as commercial practices.
Key Stakeholders
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Raw Material Supplier
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RFID Chip Manufacturers
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Tag, Readers, and Label Manufacturers
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System Integrators
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Software Developers
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Platform Providers
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Distributors and Resellers
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Consultants and Service Providers
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Regulatory Bodies
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Research and Development Institutes
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End Users
Report Objectives
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To define, describe, and forecast the size of the RFID market, by offering, tag type, form factor, frequency, material, wafer size, application, vertical, and region, in terms of value
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To forecast the market for tag type, in terms of volume
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To forecast the size of various segments with respect to four regions, namely, North America, Asia Pacific, Europe, and Rest of the World (Middle East & Africa and South America)
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To identify and analyze key drivers, restraints, opportunities, and challenges influencing the growth of the RFID market
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To study the value chain and related industry segments of the RFID market
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To strategically analyze the micromarkets concerning individual growth trends, prospects, and contributions to the overall market
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To assess the trends and disruptions impacting customers’ businesses’ pricing trends, patents and innovations, trade data, regulatory landscape, Porter’s five forces, case studies, key stakeholders and buying criteria, technology trends, market ecosystem, key conferences and events, and impact of AI/Gen AI related to the RFID market
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To analyze opportunities for various stakeholders by identifying the high-growth segments of the market
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To strategically profile the key players and comprehensively analyze their market position in terms of revenue, market share, and core competencies, along with detailing the competitive landscape for the market leaders
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To analyze competitive developments such as product launches, acquisitions, partnerships, collaborations, and expansions carried out by players in the RFID market
Available Customizations
With the given market data, MarketsandMarkets offers customizations according to the specific requirements of companies. The following customization options are available for the report:
Country-wise Information:
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Country-wise breakdown for North America, Europe, Asia Pacific, and Rest of the World
Company Information:
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o Detailed analysis and profiling of additional market players (up to five)
LARGEST MARKET SHARE IN 2025-2033
ASIA PACIFIC FASTER-GROWING MARKET IN REGION
Ethan
Apr, 2022
I need the report, for analyzing RFID manufacturing companies .
Vinit
Apr, 2022
I’m doing market research as an investor. COuld you please provide me a sample of the report. Thank you for your help. .
Matthew
Apr, 2022
Sample for RFID overview, including LF, HF, UHF markets and products by type. .
mohammad
Apr, 2022
I would like to have a big picture (map) of RFID tag consumers (sectors, companies, buyers, applications, etc.) and providers (tag manufacturers, chip manufacturers, solution providers, distributors, etc.) worldwide. thanks.
Nagendra
Apr, 2022
Keener to know about the Indian market, Applications, verticals.. etc .
Commodore
Jun, 2022
Can we get a sample of the report on LF/HF.UHF segment? If specific info on India is available, same would be useful. Please treat this on priority..
Manuel
Sep, 2022
Training about RFID markets, and internal knowledge..