At 9.3% CAGR, the Middle East & Africa RFID Market is projected to be worth US$ 2,178.81 million by 2030, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa RFID market was valued at US$ 1,168.04 million in 2023 and is expected to reach US$ 2,178.81 million by 2030, registering a CAGR of 9.3% 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 Middle East & Africa RFID market expansion.  

RFID technologies are used for various applications in many industries such as food, airline, and blockchain, due to technological advancements and rising awareness regarding their benefits. For instance, RFID tags can be attached to food products to track their movement throughout the supply chain. It helps improve inventory management, prevent food spoilage, and ensure food safety. Additionally, in April 2021, Stora Enso launched its "world-first" recyclable RFID tag for microwave-safe use. The Eco Meal RFID tag is designed for item-level ready to eat meal tagging and tracking. Such application and product development propel RFID technology adoption in food industries.

In the airline industry, RFID tags can provide accurate information about the location and status of emergency equipment, aircraft systems, and passengers. It can help to improve decision-making during an emergency. The airline deployed RFIDAeroCheck technology in its maintenance program. It will track the components within the server-wide application database, including information on defined equipment types, aircraft locations, configurations, and various parts.

Additionally, RFID can help airport authorities improve baggage handling by automating many manual processes, such as checking in bags, loading bags onto airplanes, and unloading bags from airplanes. It can help reduce the wait times for passengers in baggage handling. The benefits of the technology propel the adoption of RFID technologies in airline industries.

On the contrary, availability of RFID alternatives hampers the Middle East & Africa RFID market.

Based on type, the Middle East & Africa RFID market is segmented into active and passive. The passive segment held 68.8% share of Middle East & Africa RFID Market in 2023, amassing US$ 804.03 million. It is projected to garner US$ 1,383.44 million by 2030 to expand at 8.1% CAGR during 2023–2030. 

Based on frequency band, the Middle East & Africa RFID market is segmented into low frequency, high frequency, and ultrahigh frequency. The high frequency segment held 55.8% share of Middle East & Africa RFID Market in 2023, amassing US$ 651.49 million. It is projected to garner US$ 1,231.72 million by 2030 to expand at 9.5% CAGR during 2023–2030.

Based on end user, the Middle East & Africa RFID market is segmented into public sector, healthcare, education, sports & recreation, hospitality, residential, BFSI, manufacturing, telecommunications, and others. The hospitality segment held 21.2% share of Middle East & Africa RFID Market in 2023, amassing US$ 248.01 million. It is projected to garner US$ 516.85 million by 2030 to expand at 11.1% CAGR during 2023–2030.

Based on product, the Middle East & Africa RFID market is segmented into cards, key fob, smartphones, band, and others. The cards segment held 51.4% share of Middle East & Africa RFID Market in 2023, amassing US$ 541.57 million. It is projected to garner US$ 1,007.06 million by 2030 to expand at 9.3% CAGR during 2023–2030.

Based on offering, the Middle East & Africa RFID market is segmented into tags, readers, and software & services. The tags segment held 63.3% share of Middle East & Africa RFID Market in 2023, amassing US$ 739.75 million. It is projected to garner US$ 1,355.25 million by 2030 to expand at 9.0% CAGR during 2023–2030.

Based on the application, the Middle East & Africa RFID market is segmented into parcel & mailboxes, lockers, ticketing, and others. The others segment held 64.1% share of Middle East & Africa RFID Market in 2023, amassing US$ 748.94 million. It is projected to garner US$ 1,449.83 million by 2030 to expand at 9.9% CAGR during 2023–2030.

Based on country, the Middle East & Africa RFID market has been categorized into South Africa, Saudi Arabia, UAE, and the Rest of the Middle East & Africa. Our regional analysis states that South Africa captured 29.3% share of Middle East & Africa RFID Market in 2023. It was assessed at US$ 341.98 million in 2023 and is likely to hit US$ 625.27 million by 2030, exhibiting a CAGR of 9.0% during the forecast period.      

Key players operating in the Middle East & Africa RFID market are Assa Abloy AB; dormakaba Holding AG; Honeywell International Inc; OMRON Corp; Siemens AG; and Zebra Technologies Corp, among others.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com