According to a new report published by Introspective Market Research, titled, “RIFT Market by Offerings, By Wafer Size, By Frequency, By Form, By Material, By Application: Global Opportunity Analysis and Industry Forecast, 2024–2032
RFID Market was valued at USD 15.85 billion in 2023 and is likely to reach USD 41.21 billion by 2032, increasing at a CAGR of 11.2% from 2024 to 2032.
A distinctive proof ofRadio Frequency Identification (RFID) refers to a remote framework that consists of two parts: tags and core programs. A probe can be a device with one or more radio wires that emits radio waves and receives signals from the RFID tag. Supply chain management and coordination make RFID innovations widely applicable. Sensor-based RFID innovation is gradually coordinated with product assembly to track and trace product roots and prevent contamination or changes in the supply chain. Coordination and transportation are the most important application areas of RFID innovation. Warehouse management, dock management, cargo and freight management, and distribution centres are some of the areas where innovative RFID is mainly used. Radio Frequency Identification (RFID) basically refers to a remote framework that consists of two main components: tags and firmware.
A tracker is basically a device that contains one or more receiving wires that emit radio waves and receive signals from RFID tags. Tags that use radio waves to transmit their character and other important data to nearby readers can be passive or dynamic. Removable RFID tags are primarily portable and do not require a battery. Be that as it may, dynamic RFID tags run on batteries. These RFID tags can store a large amount of information from a single serial number to a few pages of basic information. RFID probes are advertised as having a versatile frame count, so they can be hand-held or attached to a pole or overhead. of.
RFID enables programmed and real-time data collection of tagged objects or resources by calculating points of interest such as area, space, temperature and other important measurements. This improves the visibility of resources in various forms, which helps improve decision-making and operational efficiency. RFID is coherently coordinated with IoT phases and acts as an important source of information between interconnected devices and sensors. By combining RFID data with IoT steps, companies gain access to comprehensive knowledge that enables optimized forms and informed decision-making. RFID facilitates the mechanization of processing by activating functions or workflows based on predefined rules or capabilities. RFID researchers naturally detect tagged items entering or leaving certain zones, provoking actions such as updating inventory, organizing replenishment or warnings about potential problems, simplifying operations. When managing the supply chain, RFID ensures comprehensive traceability of products during their movement at various stages. By coordinating RFID data with IoT steps and supply chain management frameworks, companies optimize inventory levels, improve coordination, minimize errors and improve delivery accuracy, ultimately improving supply chain capabilities. of.
The innovation creates a decentralized and permanent record where all value-based data, RFID tag passes and related data are securely stored. Every exchange, like the development of Blockchain products through the supply chain, is encrypted and connected to previous exchanges, forming an immutable audit trail. Integrating RFID data with the blockchain enables real-time recording of all product development and exchange throughout the supply chain. Thanks to this simplicity, partners can trace the journey of the goods from the source to the final customer. Customers can verify products by checking RFID tags and comparing blockchain records, ensuring their authenticity and provenance. RFID tags can be encoded with special identifiers attached to points on the blockchain. This enables instant verification of product authenticity throughout the supply chain and store. Ignoring changes to real RFID tags or blockchain records can quickly identify counterfeit products, thus reducing the risk of blackmail. of.
Global RIFT Market, Segmentation
The RIFT market is segmented on the basis of By Offerings (Tags, Readers, Software & Services), By Wafer Size (8inch, 12inch and other Wafer Sizes), By Frequency (Low Frequency, High Frequency, Ultra-High Frequency), By Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band, Other Form Factors), By Material (Plastic, Paper, Glass), By Application (Agriculture, Commercial, Transportation, Healthcare, Logistics, Food, Security& Access Control, Automotive and Others) and region.
Form Factor:
The Form Factor segment is further classified into Card, Implant, Key Fob, Label, Paper Ticket, Band, Other Form Factors. Among these, the Card sub-segment accounted for the highest market share in 2023. coded with a unique identifier that allows the donations to reach authorized persons when shown to RFID card examiners at the department's information centres. This innovation significantly improves security by engaging organizations to monitor and control access to specific areas and protect sensitive information and resources. RFID cards, also known as smart cards or travel cards, are essential for collecting access fees in open transport systems such as buses, trains, metros and cable cars. Passengers load purchases onto these cards and tap them against RFID readers at entrances or gates to pay for their ride.
This strategy provides a consistent and efficient way to monitor boarding changes, assist passenger boarding forms and reduce congestion in passenger terminals. RFID cards are widely used for contactless payments in various business situations, counting stores, restaurants and entertainment places. These are usually called contactless credit or debit cards. These cards allow customers to switch cards by tapping or swiping the card to close RFID-enabled payment terminals. Local payments offer speed and convenience at the time of transaction, improving customer satisfaction, reducing exchange times and promoting hassle-free shopping.
Material:
The Material segment is further classified into Plastic, Paper and Glass. Among these, the Plastic sub-segment is anticipated to show the fastest growth by 2032. Plastic RFID tags and cards are very versatile and withstand wear and tear in a variety of situations. They are resistant to the introduction of moisture, temperature changes and physical stress, ensuring consistent performance during late periods. Plastic RFID tags and cards offer unprecedented design flexibility. They can be manufactured in different shapes, sizes and configurations to meet specific requirements.
Customization options such as printing, embossing or lamination allow you to combine branding, data or security points to meet different application needs. Plastic RFID tags and cards exceed expectations in terms of consistency, which promotes consistent transmission of data from RFID frames. They are compatible with a wide range of RFID frequencies, including LF, HF and UHF, and can be optimized for specific research areas and applications. It ensures stable and productive communication between RFID readers and tags.
Region:
The RIFT market in Asia-Pacific is projected to show the fastest growth by 2032. The Asia Pacific locale is expected to hold a significant share of the showcase and is anticipated to witness noteworthy development over the figure period. The quickly expanding execution and investigate work within the field of computerization and a critical extension of industry 4.0 have been driving the demand for RFID arrangements within the region. The region's development has been altogether driven by the expanding establishment of these RFID frameworks in fabricating units in order to move forward efficiency. The developing acknowledgment of electronic personality cards and RFID tags that are found in shrewd cards is additionally acting as a driver for the development of the RFID advertise within the locale.
Some of the leading RIFT market players are
- Alien Technology (United States)
- Avery Dennison Corporation (United States)
- CCL Industries Inc. (Canada)
- Checkpoint Systems, Inc. (United States)
- Datalogic S.p.A. (Italy)
- HID Global Corporation (United States)
- Honeywell International Inc. (United States)
- Impinj, Inc. (United States)
- Invengo Technology Pte. Ltd. (Singapore)
- NXP Semiconductors N.V. (Netherlands)
Key Industry Developments
- In Sep 2023 - The AD Pure range launches with AD Belt U9 Pure loads and labels ideal for global apparel, retail, industrial and supply chain applications. They are compact in size and offer excellent performance with hard-to-detect or low-profile materials such as cardboard and plastic.
- In March 2023 - Invengo brought and presented various new generation products at EuroShop, such as UHF readers, tags, security gates and antennas, as well as ATID palm readers, which showed their advanced technology in the RFID industry. Invego also presented to visitors’ cases of RFID applications in smart stores, manufacturing, logistics and warehouses. Unlimited and open communication with guests has brought a new, intelligent and rewarding experience for everyone.
Key Findings of the Study
- RFID is coherently coordinated with IoT phases and acts as an important source of information between interconnected devices and sensors.
- Integrating RFID data with the blockchain enables real-time recording of all product development and exchange throughout the supply chain.
- Plastic RFID tags and cards are very versatile and withstand wear and tear in a variety of situations.
- The RIFT market in Asia-Pacific is projected to show the fastest growth by 2032.
