Report : North America RFID Market Forecast to 2030 - Regional Analysis By Type (Active and Passive), Frequency Band (Low Frequency, High Frequency, and Ultrahigh Frequency), End User (Public Sector, Healthcare, Education, Sports & Recreation, Hospitality, Residential, BFSI, Manufacturing, Telecommunications, and Others), Product (Cards, Key FOB, Smartphones, Band, and Others), Offering (Tags, Readers, and Software & Services), Application (Parcel & Mailboxes, Lockers, Ticketing, and Others)
At 10.1% CAGR, the North America RFID Market is speculated to be worth US$ 12,539.19 million by 2030, says Business Market Insights
According to Business Market Insights research, the North America RFID market was valued at US$ 6,379.62 million in 2023 and is expected to reach US$ 12,539.19 million by 2030, registering a CAGR of 10.1% 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 North America 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. In April 2022, international restaurant chain Chipotle Mexican Grill used RFID technologies to enhance its traceability and inventory systems at its Chicago distribution center. In 2023, Chipotle Mexican Grill expanded the use of RFID technology to track ingredients from suppliers in real time. RFID gives Chipotle Mexican Grill a real-time view of its inventory at distribution centers and restaurants. Also, the suppliers of this restaurant chain use RFID technology to improve inventory management processes.
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. 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. Such benefits of the technology propel the adoption of RFID technologies in airline industries.
On the contrary, availability of RFID alternatives hampers the North America RFID market.
Based on type, the North America RFID market is segmented into active and passive. The passive segment held 70.8% share of North America RFID Market in 2023, amassing US$ 4,517.03 million. It is projected to garner US$ 8,654.69 million by 2030 to expand at 9.7% CAGR during 2023–2030.
Based on frequency band, the North America RFID market is segmented into low frequency, high frequency, and ultrahigh frequency. The high frequency segment held 57.5% share of North America RFID Market in 2023, amassing US$ 3,668.13 million. It is projected to garner US$ 7,194.46 million by 2030 to expand at 10.1% CAGR during 2023–2030.
Based on end user, the North America RFID market is segmented into public sector, healthcare, education, sports & recreation, hospitality, residential, BFSI, manufacturing, telecommunications, and others. The hospitality segment held 20.1% share of North America RFID Market in 2023, amassing US$ 1,281.06 million. It is projected to garner US$ 2,811.19 million by 2030 to expand at 11.9% CAGR during 2023–2030.
Based on product, the North America RFID market is segmented into cards, key fob, smartphones, band, and others. The cards segment held 55.1% share of North America RFID Market in 2023, amassing US$ 3,121.64 million. It is projected to garner US$ 6,162.75 million by 2030 to expand at 10.2% CAGR during 2023–2030.
Based on offering, the North America RFID market is segmented into tags, readers, and software & services. The tags segment held 63.4% share of North America RFID Market in 2023, amassing US$ 4,044.50 million. It is projected to garner US$ 7,887.47 million by 2030 to expand at 10.0% CAGR during 2023–2030.
Based on application, the North America RFID market is segmented into parcel & mailboxes, lockers, ticketing, and others. The others segment held 65.7% share of North America RFID Market in 2023, amassing US$ 4,194.16 million. It is projected to garner US$ 8,531.92 million by 2030 to expand at 10.7% CAGR during 2023–2030.
Based on country, the North America RFID market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 78.6% share of North America RFID Market in 2023. It was assessed at US$ 5,012.40 million in 2023 and is likely to hit US$ 10,061.20 million by 2030, exhibiting a CAGR of 10.5% during the forecast period.
Key players operating in the North America RFID market are Assa Abloy AB; 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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