Radio Frequency Identification (RFID) Market to Record a CAGR of 10.39%

The radio frequency identification (RFID) market size is expected to grow by USD 8.88 bn from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 10.39% during the forecast period.

The industrial segment will contribute the highest market share growth during the forecast period. In the manufacturing process, incorporating RFID middleware helps in understanding and tracking the movement of semi-finished goods. The increasing applications of RFID in the industrial processes during the forecast period will drive the growth of this segment.

The radio frequency identification (RFID) market is fragmented, and the vendors are deploying growth strategies such as trying to expand the scope of their offerings and allowing an increase in customization to compete in the market. Alien Technology LLC, ASSA ABLOY AB, Avery Dennison Corp., CipherLab Co. Ltd., CoreRFID Ltd., Datalogic Spa, eAgile Inc., FEIG ELECTRONIC GmbH, Fujitsu Ltd., GAO RFID Inc., Honeywell International Inc., Impinj Inc., Mojix Inc., Nedap NV, NXP Semiconductors NV, RFID4U, Siemens AG, SATO Holdings Corp., Unitech Electronics Co. Ltd., and Zebra Technologies Corp. are among some of the major market participants.