Radio Frequency Identification (RFID) Market - 40% of Growth to Originate from APAC

The global radio frequency identification (RFID) market is expected to grow by USD 7.86 billion from 2020 to 2025 at a CAGR of 10.07% as per the latest market report by Technavio. 40% of the market's growth will originate from APAC during the forecast period. China is the key market for radio frequency identification (RFID) in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The key factor driving growth in the radio frequency identification (RFID) market is the adoption of inventory management systems. In the end-user segments such as industrial and retail, the data entry and database of the equipment or product were managed manually, which led to an increase in errors and inaccuracy and was a time-consuming process. With the help of RFID tags, the user will be able to record and recognize the database of the product with better precision. Industries such as manufacturing, logistics, and warehousing require an accurate database of the products, which will aid in better decision-making among these end-user industries. With the introduction of RFID tags, vendors, manufacturers, and other end-users have found major improvements in the overall data entry.

Thus, accuracy in database management will result in an increased demand for RFID products. The key factor driving growth in the radio frequency identification (RFID) market is the adoption of inventory management systems. In the end-user segments such as industrial and retail, the data entry and database of the equipment or product were managed manually, which led to an increase in errors and inaccuracy and was a time-consuming process. With the help of RFID tags, the user will be able to record and recognize the database of the product with better precision. Industries such as manufacturing, logistics, and warehousing require an accurate database of the products, which will aid in better decision-making among these end-user industries. With the introduction of RFID tags, vendors, manufacturers, and other end-users have found major improvements in the overall data entry. Thus, accuracy in database management will result in an increased demand for RFID products.