North American RFID Market Forecast to Be Worth $13.5B by 2023

The North American market for radio-frequency identification (RFID) technologies will grow from nearly $7.2 billion in 2018 to $13.5 billion by 2023, according to a market report by BCC Research, based here.

The RFID market in North America is projected to be increasing at a compound annual growth rate (CAGR) of 13.4% for the period of 2018-2023. The U.S. RFID technologies market will grow from nearly $5.3 billion in 2018 to $9.6 billion by 2023 with a CAGR of 12.7%. In Canada, the market is forecast to grow from $1.2 billion in 2018 to $2.6 billion by 2023 with a CAGR of 16.1%.