Radio Frequency Identification in Retail Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 17.3 Billion by 2030, growing at a CAGR of 7.5% from 2024 to 2030.
During the 2018-2022 period, RFID adoption in the retail sector grew significantly, driven by the increasing need for automation and the ability to track products in real-time. RFID technology was integrated into various aspects of the retail business, including supply chain management, asset tracking, and customer service improvements. Leading retail brands implemented RFID solutions to optimize their operations and gain competitive advantages. According to market reports, RFID technology has enabled retailers to achieve up to 99% inventory accuracy, resulting in fewer lost sales and better stock management.
Moving from 2023 to 2033, RFID is expected to experience a transformative shift as technology becomes more advanced and widespread. New advancements such as passive and active RFID systems will continue to improve accuracy and efficiency. The growth of the Internet of Things (IoT) and smart sensors will allow for enhanced connectivity, providing retailers with even more valuable data about consumer behavior and supply chain trends. This next phase of RFID's evolution promises to bring even more automation and personalized experiences to customers.
RFID's demand in retail will also benefit from the increasing interest in sustainability. Retailers are focusing on reducing waste and improving efficiency, which will encourage the widespread use of RFID as a tool for better tracking and management of resources. Furthermore, the growing interest in omnichannel retailing, where businesses operate both online and offline, will further accelerate RFID adoption, as it enables seamless integration of inventory management systems across channels.
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The Radio Frequency Identification (RFID) technology has played an increasingly important role in the retail market, evolving from 2018 to 2022 and shaping the way businesses operate. The market has seen steady growth in RFID adoption, as retailers have realized its potential for streamlining inventory management, improving customer experiences, and enhancing operational efficiencies. RFID tags have become critical in tracking merchandise, reducing stock-outs, and preventing theft. This surge in demand from 2018 to 2022 has set the stage for the anticipated developments from 2023 to 2033, where RFID's role in the retail landscape is expected to expand even further.
Zebra Technologies
Alien Technology
Avery Dennison
Impinj
SML RFID
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Radio Frequency Identification in Retail Market
Supermarket
Department Store
Other
Based on Types the Market is categorized into Below types that held the largest Radio Frequency Identification in Retail market share In 2023.
Consumers
Merchants
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Radio Frequency Identification in Retail Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Radio Frequency Identification in Retail Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Radio Frequency Identification in Retail Market, By Type
6. Global Radio Frequency Identification in Retail Market, By Application
7. Global Radio Frequency Identification in Retail Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Radio Frequency Identification in Retail Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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