Global RFID Market Growth Projection to 203

As the industry navigates through increasing demands, the surge in hybrid RFID solutions is anticipated to address the limitations typically faced with single-technology systems. This evolution is poised to bolster the RFID market growth, backed by the integration of RFID technology with existing networks like Wi-Fi or GPS, thus minimizing the need for additional infrastructural investments. Such innovations underscore the transition towards RFID-enabled IoT solutions, further propelled by the diminishing costs of RFID tags, the ubiquitous utilisation of IP networks, and the broadening scope of commercial opportunities.

In 2022, the 8-inch wafer size segment demonstrated a significant market share, accredited to the wide-scale production of 8-inch (or 200 mm) wafers by leading manufacturers. With the expected reduction in costs of 12-inch wafers, the market could witness a paradigm shift, easing the transition for industry players to adapt to larger wafer sizes, fundamentally impacting chip manufacturing processes.

The market segment for ultra-high frequency (UHF) RFID tags is poised to witness the highest growth rate during the forecast period. Supported by advanced passive and active tag technologies, these tags serve key applications ranging from asset tracking to inventory management and supply chain enhancements.

The versatility and heightened efficiency of UHF tags ensure their prominence across diverse industry verticals, attributing to the segment's rapid growth and substantial contribution to the overall market prognosis.