Radio Frequency Identification is a technology that allows for the wireless transfer of data between an electronic tag attached to an object and a reader device using radio waves. RFID tags can be embedded in a variety of objects, including products, vehicles, animals, and even people. Also, this system consists of three main components: the RFID tag, the reader device, and a backend database or software system. The tag contains a microchip that stores data and an antenna that communicates with the reader device. When the reader device emits a radio signal, the tag responds with its stored information. Further, this technology can be utilized for a wide range of applications, that includes inventory management, asset tracking, supply chain management, and access control. RFID tags can also be used for tracking goods in transit, enabling real-time monitoring of their location and condition.
Radio Frequency Identification Market
As per the analysis by Emergen Research, the global Radio Frequency Identification Market size was USD 14.27 Billion in 2022 and is predicted to reach a CAGR of 11.9% over the foreseen period. The rising demand for inventory management is anticipated to boost the global radio frequency identification market share as this technology is being majorly utilized for inventory management in several industries, such as retail, healthcare, and logistics. The rising requirement for improved supply chain visibility is enhancing the industry share because RFID technology helps in improving supply chain visibility by providing real-time information on the location and status of goods. Technological advancements in RFID, such as the development of passive and active RFID tags, are propelling the RFID market size. Further, the rising acceptance of RFID in healthcare is uplifting the industry share as it helps in tracking medical equipment, patient records, and medication. It also helps in enhancing patient safety and reducing medical errors.
However, huge cost and standard concerns are the major factors restricting the global market share. Also, limited range and privacy & security concerns are the other factors anticipated to hinder the growth of the market.
Top leading companies in the Radio Frequency Identification Market: Top 10 By Revenue
- NXP Semiconductors N.V
- 3M Company
- Alien Technology
- ACTAtek Technology
- Impinj Inc.
- Axcess International, Inc.
- Ascendent ID
- Avery Dennison Corporations
- Checkpointt System Inc.
- Honeywell International Inc.
Top 10 Leading Companies in the Radio Frequency Identification Market by Revenue
Checkpointt System Inc. – Revenue [US$704.6 Billion]
Checkpointt System Inc. is a US-based retail company headquartered in Thorofare, NJ. It is a public company with over five thousand employees. The company was founded in the year 1969 and specializes in sectors including Apparel Labeling Solutions, Merchandise Visibility, Asset Protection, Vertically Integrated RF/RFID Solutions, RFID Software, Merchandise Availability Solutions, Omni-Channel Retail Solutions, On-Shelf Availability, Acousto Magnetic, Inventory Management, Loss Prevention, Electronic Article Surveillance, RF/RFID Source Tagging Solutions, RFID Hardware, @Source Solutions, Source Tagging Program, High Theft Solutions, EAS, Retail, AM Labels, Radio Frequency, and Self-Checkout.
3M – Revenue [US$35.355 Billion]
3M is US based multinational conglomerate company headquartered in Saint Paul, Minnesota, United States. The company is a manufacturer and distributor of a wide range of products which includes building materials & adhesives to medical and home cleaning supplies. Its safety and industrial sectors give a rise to most profits and sales. Further, the company has made 37 acquisitions and spent more than US$14.95 Billion on the acquisitions. It has invested in numerous sectors including Security and Surveillance Technology, Healthcare IT, Speech & Voice Recognition, and others.
Honeywell International Inc. – Revenue [US$34.392 Billion]
Honeywell International Inc. is an appliance, electrical, and electronics manufacturing company headquartered in Charlotte, North Carolina. It is a multinational conglomerate corporation, the company majorly offers services in the areas covering building technologies, aerospace & technologies, performance materials, and safety & productivity solutions. Also, the company manufactures innovative solutions which can help healthcare organizations in simplifying day-to-day tasks keep buildings and clinicians safe, and optimize processes. Further, it was acquired by AlliedSignal in 1999, which elected to keep the Honeywell name for its brand recognition. The Honeywell products include air & thermal systems, auxiliary power units, cabin management and cleaning, cockpit systems, and displays, and others.
NXP Semiconductors N.V – Revenue [US$ 11.063 Billion]
NXP Semiconductors N.V. is a Netherlands-based semiconductor manufacturing company headquartered in Eindhoven, Noord-Brabant. It is a public company with over ten thousand employees. The company was founded in the year 2006 and specialized in the sectors such as Identification, High-Performance Mixed Signal, Automotive, Wireless Infrastructure, Digital Networking, Industrial, Smart City, Communication Infrastructure, Smart Home, and Mobile. Also, the company has made 9 acquisitions and spent more than $ 130M on the acquisitions. It has invested in various sectors such as Internet of Things Infrastructure, Analog and Mixed Signal ICs, Digital ICs, and others.
Avery Dennison Corporations – Revenue [US$8.4 Billion]
Avery Dennison Corporation is a US-based packaging and container manufacturing company headquartered in Mentor, Ohio. It is a public company with more than ten thousand employees. The company is specialized in the sectors such as apparel & footwear branding, advertising & promotions, architecture & buildings, durable goods and equipment, automotive, electronic & electrical, government, food, medical & healthcare, RFID, retail, supply chain & logistics, transportation, and consumer packaged goods. Also, it has acquired 14 companies and the largest acquisition to date was in 2021 when it acquired Vestcom for $1.5 Billion.
Impinj Inc. – Revenue [US$258 Million]
Impinj Inc. is an American IT services and IT consulting company headquartered in Seattle, WA. It is a public company with more than five hundred employees. The company was founded in the year 2000 and specialized in sectors including RAIN RFID readers, RAIN RFID antennas,
RAIN RFID Solutions, RAIN RFID, and RAIN RFID tag chips. Further, the company has raised a total funding of $132M over 10 rounds. The recent funding round was a Post IPO round on Nov 02, 2021, for $250M.
Alien Technology – Revenue [US$28.6 Million]
Alien Technology is a US-based wireless services company headquartered in San Jose, CA. It is a privately held company with more than two hundred employees. The company was founded in the year 1994 and specialized in UHF RFID ICs, UHF Fixed Readers, UHF RFID Inlays/Tags, UHF Handheld Readers, and RFID Services including "Alien Academy", and Alien Academy. Also, the company offers professional and educational services to several industries, such as manufacturing, retail, consumer goods, defense, transportation & logistics, value-added resellers, pharmaceuticals through label converters, and system integrators in the United States and globally.
ACTAtek Technology – Revenue [US$7.1 Million]
ACTAtek Technology is a UK-based IT services and IT consulting company headquartered in Birmingham, West Midlands. It is a privately held company with more than fifty employees. The company was founded in the year 2007 and specialized in the sectors such as Access Control, Time and Attendance, Workforce Management, Security, Payroll, Smart card, Fingerprint, and School Attendance.
Axcess International, Inc. – Revenue [US$5 Million]
Axcess International, Inc. was a technology company headquartered in New York, United States. The company was founded in 1983 and focused on providing wireless identification and sensing solutions to various industries. The company primarily offered a range of wireless solutions, such as RFID (Radio Frequency Identification) and RTLS (Real-Time Location System) technologies, which allowed companies to track and manage their assets in real time. Also, the solutions of the company were used in a variety of applications, including supply chain management, healthcare, and security.
Ascendent ID – Revenue [US$5 Million]
Ascendent ID is a US-based IT service and IT consulting company headquartered in San Mateo, California. It is a privately held company with more than fifty employees. The company was founded in the year 2014 and specialized in the sectors such as Marketing Transformation, Executive Research, Professional Development + Coaching, and Executive Community.
FAQs
Who is the market leader in RFID? ›
The major companies in RFID market are – Zebra Technologies (US), Alien Technology (US), CAEN RFID (Italy), Impinj (US), Avery Dennison (US), Honeywell (US), NXP Semiconductors (Netherlands), GAO RFID (Canada), HID Global (US), Invengo (China), Infotek Software & Systems (P) Ltd (i-TEK) (India), Bartronics India Ltd.
What is the outlook for the RFID market? ›The global RFID market was valued at $11.8 billion in 2021, and is projected to reach $31.5 billion by 2031, growing at a CAGR of 10.2% from 2022 to 2031.
How much is the RFID market worth? ›The RFID market size in North America is estimated to be valued at USD 6.1 billion by 2027 from USD 4.45 billion in 2022, growing at a CAGR of 6.49% from 2022 to 2027.
How big is the RFID tag market? ›The Market for RFID Tags was valued at US$ 12,345.2 Million in 2022, and it is anticipated to have grown to US$ 31,803.3 Million by the end of 2033. The market for RFID tags is estimated to evaluate to US$ 13,271.1 Million in 2023 and is estimate to grow at a CAGR of 9.1% from 2023 to 2033.
What is better than RFID? ›Batteries power Bluetooth tags and hence have their own power source. Therefore, for applications that require the tag to be working continuously, like in wearable technology, BLE is the better option when compared to RFID. Both RFID and BLE technology have varying levels of security, depending on the implementation.
What is the future of RFID in retail? ›The Future of RFID
The next big impact that RFID will have on retail is in the checkout process. As the technology becomes more precise, affordable, and readily available, it will find its way into point of sale systems across all retail verticals.
There is a global shortage of microchips of all kinds, and RFID chips are no exception. The semiconductor fabrication plants are backlogged and have been unable to produce enough chips to meet the demand.
What is next for RFID? ›RFID technology is poised for some significant advancements fueled by what analysts say will be more rapid growth in healthcare, retail, food safety, and other markets. The future of RFID is growing and expanding as more industries and companies invest in the technology.
Does Amazon use RFID tags? ›Amazon is using RFID for tracking goods in its warehouses and for its expanding list of supply chain users and partners. In addition, Amazon is utilizing AI and RFID to improve the tracking and auditing of customers' orders. Amazon is also part of the retail and apparel world.
Who controls radio frequency? ›The radio spectrum is the radio frequency (RF) portion of the electromagnetic spectrum. In the United States, regulatory responsibility for the radio spectrum is divided between the Federal Communications Commission (FCC) and the National Telecommunications and Information Administration (NTIA).
Who manufactures RFID? ›
| Company | Location | Year Founded |
|---|---|---|
| Rockwell Automation | Milwaukee, WI | 1903 |
| Siemens Corporation | Washington, DC | 1847 |
| McNaughton-McKay Electric Co. | Madison Heights, MI | 1910 |
| HID Global Corporation | Austin, TX | 1991 |
Generally speaking, active tags are $25 and up. Active tags with special protective housing, extra-long battery life or sensors can run $100 or more.
Is RFID outdated? ›RFID is comparatively older technology but can still be relevant for supply chain management. Learn some potential logistics uses for RFID and reasons for its increased adoption.
Why RFID is the future? ›In the future, RFID solutions will provide data for real-time tactical and strategic decision-making. The utilization of RFID data will become faster and more relevant. In the future, RFID can be used in new use cases. RFID and sensor solutions can provide actionable input.
What is the demand for RFID? ›Market Synopsis. The global Radio Frequency Identification (RFID) market size was USD 14.27 Billion in 2022 and is expected to register a revenue CAGR of 11.9% during the forecast period. Increasing use of RFID systems in manufacturing units is a major factor driving market revenue growth.
Is RFID more expensive than barcodes? ›Cost is one of the main obstacles to RFID technology for many businesses. A typical barcode label costs a few cents each, while an RFID tag can run anywhere from $1 to over $30 depending on the type of tag you need. RFID readers are about ten times more expensive than barcode scanners.
What percentage of retailers use RFID? ›In overall adoption, North America continues to be the frontrunner with 93% of retailers surveyed using RFID.
Why RFID not widely adopted? ›RFID technology has a wide scope in the manufacturing industry due to its technologically advanced features. But due to its initial high cost, lack of standards and privacy concerns organizations are reluctant in adopting the technology.
What are the three types of RFID? ›Now that you know how a RFID system works, it is time to get to know the different types of RFID systems in the market. Depending on the frequency band they operate at we find different systems: low frequency (LF), high frequency (HF / NFC) and utra-high frequency (UHF).
What will block RFID? ›RFID-blocking wallets are made from thin, durable metal, such as carbon fiberandaluminum. These special materials prevent unwanted radio frequencies from penetrating the card case and activating the RFID tagon your credit, debit, or ID cards.
Does Walmart use RFID? ›
To this day, all US Walmart locations use RFID to track incoming shipments and merchandise on the sales floor.
Why invest in RFID? ›Better visibility: With RFID technology, businesses can track products throughout the supply chain, from production to delivery to the end customer. This increased visibility can help businesses identify and address issues more quickly, improving customer satisfaction and reducing the risk of product recalls.
Why did Walmart choose RFID? ›Walmart began experimenting with RFID technology in 2003. The experiment proved successful. Using RFID tags on select items, Walmart saw cost savings and a more efficient supply chain. Based on these results, Walmart went on to invest almost $500 million in its RFID technology in 2004.
What is the major problem with RFID? ›RFID challenges
RFID is prone to two main issues: Reader collision. Reader collision, when a signal from one RFID reader interferes with a second reader, can be prevented by using an anti-collision protocol to make RFID tags take turns transmitting to their appropriate reader. Tag collision.
An RFID-blocking wallet uses a layer of carbon fiber or aluminum to block the electromagnetic signal emitted from your card. The wallet acts like a Faraday cage. It creates a barrier and cancels out electromagnetic signals. Whether you've owned a contactless payment card or not, the market for it has grown rapidly.
Is RFID replacing barcode? ›Well, RFID tags aren't necessarily meant to replace barcodes. They're designed to complement barcodes – and co-exist in some cases. Though both are used for product tracking and inventory management in some capacity, their capabilities vary, and purpose differ.
Where will the RFID chip be implanted? ›In the future, an RFID chip implanted into your hand, between your thumb and your index finger on the back of your hand, could contain a lot of useful information – that you usually carry around in your wallet or purse.
What is more secure than RFID? ›Near-field communication (NFC) is an emerging security technology created in the mid-2000s by Philips and Sony. It has quickly risen in popularity in access control systems. Like RFID, NFC employs radio signals. These signals are more advanced and secure than the RFID predecessor.
Is RFID an emerging technology? ›Radio Frequency Identification (RFID) technology is considered as a new sensing paradigm due to its low-cost, passive wireless power transfer capability, flexibility, and non-line-of-sight communication.
Can cell phones detect RFID tags? ›An RFID sled is an RFID scanner with the same capabilities as a handheld UHF RFID reader; however, it's also equipped with Bluetooth technology that can connect the RFID sled to mobile devices such as a smartphone or a tablet. It is used to read RFID tags for asset and inventory tracking.
Do police use RFID tags? ›
Tracking Police equipment from Carbines and Tasers to expensive portable radios or Opioid response or Narcan kits is easy. RFID validates the chain of custody because inventory assigned to the officer is tracked automatically when in-range of RFID readers (installed at the doorways).
Do grocery stores use RFID tags? ›More efficient inventory management
This is due to how RFID generally uses radio waves to easily identify items and transmit information about them; supermarkets can make use of RFID tags to make sure that their store personnel are always alerted when shelves are becoming empty and need restocking.
RF, or radio frequency weapons, also known as directedenergy weapons, use electromagnetic energy on specific frequencies to disable electronic systems.
What frequency is 5G? ›5G Frequency FAQs
It uses the mmWave spectrum band at 28 GHz and 39 GHz.
This interference may be caused by equipment in your home, such as hair dryers, sewing machines, electric drills, doorbell transformers, light switches, smartphone chargers, power supplies, computing devices, washing machines, clothes dryers, fluorescent lights, LED lights, or garage door openers.
Is there a universal RFID reader? ›The multi-standard RFID reader allows system manufacturers and integrators to integrate contactless identification and authentication into their solutions regardless of the transponders used by the customer. The device covers all common RFID technologies in the frequency ranges 125/134.2 kHz as well as 13.56 MHz.
Is RFID a Blockchain technology? ›RFID transports and captures product information, which is protected by the blockchain.
Are all RFID chips the same? ›There are a variety of RFID tags on the market today, differentiated by frequency range (low, high and ultra-high). Each RFID type can be either active (powered), passive (un-powered) or semi-passive (battery-assisted).
How common is RFID crime? ›RFID skimming isn't common or practical because thieves typically have to be in very close proximity to a card. Furthermore, contactless card payments are capped, which makes this a high-risk but relatively-low reward crime.
Is there RFID crime? ›Some security experts have voiced concerns about a phenomenon called RFID skimming, in which a thief with an RFID reader may be able to steal your credit card number or personal information simply by walking within a few feet of you.
How long do RFID tags last? ›
Active: Active RFID tags usually last between three to five years, depending on the battery. Some tags may allow for battery replacement, while other tags may not. These tags also last much longer than other RTLS technologies such as ultra wide-band tags and WiFi tags).
Is RFID blocking a gimmick? ›Let's dive into the specifics of RFID history, technology, scanning, skimming, shimming and blocking. In the end you might want to block RFID, but you won't want to do it with a wallet. And RFID blocking wallets are still a scam. RFID blocking material built into wallets is a total scam.
What is the RFID trend in 2023? ›Overall, IDTechEx forecasts that 39.3 billion passive RFID tags will be sold in 2023, up from 33 billion in 2022, indicating a 20% year on year increase.
Is RFID still used in credit cards? ›Though many new credit cards are RFID-enabled, not all of them are. On the other hand, all newly-issued credit cards come with an EMV chip. You won't be able to see the RFID chip in a credit card because it's inside the card. Credit cards with RFID technology are easy to use.
What are the pros and cons of RFID? ›- PRO: Inventory control. ...
- PRO: Enhanced data and inventory detail. ...
- PRO: Smart shelving. ...
- PRO: Cut checkout wait times. ...
- CON: Security. ...
- CON: Privacy and transparency. ...
- CON: Cost and integration.
RFID uses wireless frequencies, which by their nature respond to any type of signal without proper verification standards. Thus, it is prone to attacks like Eavesdropping, Man-in-the-middle attack, etc.
Why RFID is better than NFC? ›RFID is far more configurable and customizable than NFC. Low-frequency RFID has a small read range, but low-frequency RFID waves can pass through water or metal. High-frequency systems can support ranges of a few inches to a few feet, while ultra-high frequency systems can range 25 feet or more.
Who is the founder of RFID? ›RFID was, however, officially invented in 1983 by Charles Walton when he filed the first patent with the word 'RFID'.
Who makes RFID technology? ›| Company | Location | Year Founded |
|---|---|---|
| Rockwell Automation | Milwaukee, WI | 1903 |
| Siemens Corporation | Washington, DC | 1847 |
| McNaughton-McKay Electric Co. | Madison Heights, MI | 1910 |
| HID Global Corporation | Austin, TX | 1991 |
One of the main positive trends for the company is a steady adoption of RFID tag and label technologies across industries but driven by the apparel business. AVY notes that it currently has a >50% market share.
Is RFID part of Blockchain? ›
RFID transports and captures product information, which is protected by the blockchain.
What was the first RFID technology? ›World War II (WWII) is considered the first time RFID-like technology was used. Radar, discovered in 1935 by Sir Robert Alexander Watson-Watt, was used throughout the American, British, and German military.
Is RFID still used today? ›Nowadays, the most modern and effective organizations are using RFID technology to automate assets tracking. Systems based on RFID solutions avoid many problems caused by manual tracking.
Why are some companies hesitant to adopt RFID technology? ›Sometimes, it may provide inaccurate information as it is unable to track or identify the tags when there is high traffic or moisture in the content. It may be very costly for some of the companies due to which they do not adopt this technology.
Does Walmart use RFID technology? ›To this day, all US Walmart locations use RFID to track incoming shipments and merchandise on the sales floor.
What are the two specific business uses of RFID technology? ›RFID is a highly versatile technology with applications throughout business – from controlling manufacturing processes to maintenance and inspection of equipment, managing assets and tracking goods through to distribution.
Is Avery Dennison a good stock to buy? ›Out of 7 analysts, 4 (57.14%) are recommending AVY as a Strong Buy, 2 (28.57%) are recommending AVY as a Buy, 1 (14.29%) are recommending AVY as a Hold, 0 (0%) are recommending AVY as a Sell, and 0 (0%) are recommending AVY as a Strong Sell. If you're new to stock investing, here's how to buy Avery Dennison stock.
Is RFID the future? ›In the future, RFID solutions will provide data for real-time tactical and strategic decision-making. The utilization of RFID data will become faster and more relevant. In the future, RFID can be used in new use cases.
Will RFID replace barcodes? ›While barcode scanners require a line of sight to scan each code individually, RFID scanners can read multiple codes at once, which can help streamline operations. RFID systems are much more efficient for scanning a large number of items but can be more expensive and require more setup than barcodes.