Global Radio Frequency Identification (RFID) Market Size, Share, Forecast Report 2019-2025

The global RFID market is projected to reach USD 27.56 billion by 2025, witnessing a CAGR of 6.8% during the forecast period. Growing demand for security and access control applications, rapid adoption of RFID technology in the retail sector, and emergence of internet of things (IoT), are the factors primarily driving the market growth. In addition, increasing technological advancement has led to the integration of RFID with GPS and IoT, which is expected to create significant prospects for the market. However, high installation cost of RFID systems is likely to hamper the industry growth to some extent.

RFID has emerged as a promising technology with a wide range of applications across various end-use industries such as hospitals, retail, and automotive, among others. Increasing use of RFID tags in hospitals assist in tracking the patient’s health, while locating and monitoring every activity of the patient. Furthermore, as large amount of data in documents can create a difficulty in managing them, RFID is gaining a rapid access towards document tracking. RFID document-tracking systems help reduce document searching time and track the exact location of the desired entity.

The years used for the assessment are as follows;

• Historic years: 2015, 2016 and 2017
• Base year: 2018
• Forecast period: 2019 – 2025

RESEARCH METHODOLOGY

The research and analysis are based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are;

• Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
• Interacting with key opinion leaders of the market and developing data points based on interaction with them
• Study of past trends in the market and their year on year impact on the market size and share
• Analyzing the collected data points
• Bridging the data points to calculate the total RFID market and its various segments
• Anticipating potential risks
• Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the RFID market
• Finalizing the overall size and share for the global RFID market

OBJECTIVES:

• To classify the global RFID market into segments and analyze their growth prospects individually.
• To analyze market trends, opportunities, drivers and restraints associated with the RFID market.
• Profiling key companies operating in the global RFID market
• To study market response with respect to the mergers and acquisitions in the industry