At 12.9% CAGR, the Asia Pacific RFID Market is projected to be worth US$ 12,128.88 million by 2030, says Business Market Insights

According to Business Market Insights research, the Asia Pacific RFID market was valued at US$ 5,196.02 million in 2023 and is expected to reach US$ 12,128.88 million by 2030, registering a CAGR of 12.9% from 2023 to 2030. Increasing uses of RFID technology in healthcare and retail industries and rising deployment of RFID technology are the critical factors attributed to the Asia Pacific RFID market expansion.        

In many industries, the integration of RFID and IoT devices helps in tracking the location of assets in warehouses or supply chains; monitoring the conditions of assets, such as temperature and humidity, in healthcare industries; and automating tasks such as inventory management. RFID and IoT systems are developed to provide accurate, and zero fuel loss. It can help to improve efficiency, reduce costs, and prevent the loss or disarrangement of items. Companies such as Impinj, Inc. are investing strong capital foe the new IoT devices with advanced RAIN RFID chips. The new E710, E510, and E310 RAIN RFID reader chips enable the development of quick-to-market IoT devices that reliably identify, locate, and authenticate connected things.

Additionally, in November 2022, Impinj, Inc. launched two RAIN RFID tag chips to advance IoT connectivity for automotive, pharmaceutical, and food applications. These new chips are designed to help organizations manage product shelf life efficiently and reduce waste. Thus, the benefits of RFID deployment in IoT devices would propel the Asia Pacific RFID market growth in the coming years.

On the contrary, availability of RFID alternatives hampers the Asia Pacific RFID market.

Based on type, the Asia Pacific RFID market is segmented into active and passive. The passive segment held 68.1% share of Asia Pacific RFID Market in 2023, amassing US$ 3,538.22 million. It is projected to garner US$ 7,969.30 million by 2030 to expand at 12.3% CAGR during 2023–2030. 

Based on frequency band, the Asia Pacific RFID market is segmented into low frequency, high frequency, and ultrahigh frequency. The high frequency segment held 55.8% share of Asia Pacific RFID Market in 2023, amassing US$ 2,899.72 million. It is projected to garner US$ 6,829.93 million by 2030 to expand at 13.0% CAGR during 2023–2030.

Based on end user, the Asia Pacific RFID market is segmented into public sector, healthcare, education, sports & recreation, hospitality, residential, BFSI, manufacturing, telecommunications, and others. The hospitality segment held 20.8% share of Asia Pacific RFID Market in 2023, amassing US$ 1,078.49 million. It is projected to garner US$ 2,812.21 million by 2030 to expand at 14.7% CAGR during 2023–2030.

Based on product, the Asia Pacific RFID market is segmented into cards, key fob, smartphones, band, and others. The cards segment held 49.1% share of Asia Pacific RFID Market in 2023, amassing US$ 2,276.10 million. It is projected to garner US$ 5,316.90 million by 2030 to expand at 12.9% CAGR during 2023–2030.

Based on offering, the Asia Pacific RFID market is segmented into tags, readers, and software & services. The tags segment held 62.4% share of Asia Pacific RFID Market in 2023, amassing US$ 3,244.43 million. It is projected to garner US$ 7,580.82 million by 2030 to expand at 12.9% CAGR during 2023–2030.

Based on application, the Asia Pacific RFID market is segmented into parcel & mailboxes, lockers, ticketing, and others. The others segment held 61.2% share of Asia Pacific RFID Market in 2023, amassing US$ 3,177.38 million. It is projected to garner US$ 7,736.89 million by 2030 to expand at 13.6% CAGR during 2023–2030.

Based on country, the Asia Pacific RFID market has been categorized into China, Japan, India, South Korea, Australia, Indonesia, Singapore, Malaysia, Taiwan, Thailand, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.9% share of Asia Pacific RFID Market in 2023. It was assessed at US$ 1,345.05 million in 2023 and is likely to hit US$ 3,368.72 million by 2030, exhibiting a CAGR of 14.0% during the forecast period.      

Key players operating in the Asia Pacific RFID market are APK Identification; Assa Abloy AB; Bar Code India Ltd; dormakaba Holding AG; Honeywell International Inc; Impinj Inc; MIWA LOCK Co Ltd; OMRON Corp; Siemens AG; and Zebra Technologies Corp, among others.

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