Global RFID market to reach USD 19.16 billion by 2027.
Global RFID market is valued at approximately USD 9.71 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 10.2 % over the forecast period 2021-2027. Radio Frequency Identification (RFID) uses electromagnetic fields to automatically track and identify tags attached to objects. It is a wireless system which consists of two components: tags and readers. Increasing installation of RFID in manufacturing units due to COVID-19 has forecasted an increase in the demand for radio frequency detection market. For Instance: As per Institute of Electric and Electronic Engineers, there is an upsurge in the market for RFID in 2018 from US$ 100 million to US$ 343 million in 2020 due to increase in the contact tracing after COVID 19. However, high purchase, installation and maintenance costs impede the growth of the market over the forecast period of 2021-2027. Also, the rising need for contact tracking solutions due to COVID-19 is likely to increase the market growth during the forecast period.

The regional analysis of the global RFID market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the increased installation of RFID systems in manufacturing units due to rise in COVID 19 has increased the demand for RFID systems in the United States. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2021-2027. Factors such as rising adoption of new technologies in several industries like healthcare, aerospace, commercial, agriculture would create lucrative growth prospects for the RFID market across Asia-Pacific region.

Major market players included in this report are:
Honeywell international inc.
Avery demission corporation
Motorola solutions inc.
CAEN RFID S.L.R
Applied wireless identification group, inc.
ALIEN technology
Invengo information technology co., ltd.
Savi technology
IMPINJ INC.
Checkpoint Systems Inc.



The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product Type:
Tags
Readers
Software and services

By frequency:
Low frequency
High frequency
Ultra-high frequency
By Application:
Agriculture
Commercial
Transportation
Healthcare
Logistics and supply chain
Aerospace
Defense
Retail
Security and access control
Sports
Animal tracking
Ticketing
By form factor:
Card
Implant
Key fob
Label
Paper ticket
Band
others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027

Target Audience of the Global RFID market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors