RFID Market Size is Expected to Reach USD 26,435.12 Million by 2025

The RFID market size is expected to grow from USD 17,253.65 million in 2018 to USD 26,435.12 million by 2025, at a Compound Annual Growth Rate (CAGR) of 6.28% during the forecasted period, according to new research.

The Radio Frequency Identification (RFID) market is highly competitive and is marked by the presence of a great number of foreign and regional players.

The market has witnessed growing rivalry between vendors based on the pricing model, differentiation of technology, brand name, service quality, product differentiation, and technical expertise. Some of the key players in the market are Alien Technology, Applied Wireless RFID, Avery Dennison, Caen RFID, and Checkpoint Systems.

The growth of the RFID market is mainly driven by the increasing need for efficient supply chain management in the emerging economies of APAC, Middle East & Africa, and China. Robust protection in various applications such as inventory management, production process monitoring, along with long-distance object reading features of RFID tags, are also expected to increase the market growt