RFID in Retail Market Overview and Forecast by 2031
The RFID in Retail Market is expected to register a CAGR of 15.6% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by Product (Hardware, Software, Services); Frequency (Low, High, Ultra-High, Others); End User (Apparel and Fashion, Electronics, Grocery and Food Retail, Pharmacy and Healthcare Retail, others). The global analysis is further broken-down at regional level and major countries. The report offers the value in USD for the above analysis and segments
Purpose of the ReportThe report RFID in Retail Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
RFID in Retail Market Segmentation
roduct- Hardware
- Software
- Services
- Low
- High
- Ultra-High
- Others
- Apparel and Fashion
- Electronics
- Grocery and Food Retail
- Pharmacy and Healthcare Retail
- others
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South and Central America
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- South and Central America
Strategic Insights
RFID in Retail Market Growth Drivers- Precision Inventory Management: RFID technology enables real-time tracking of merchandise with 99% accuracy, eliminating manual counting errors. Retailers can instantly monitor stock levels across multiple stores, reducing stockouts and overstock situations. This precise inventory visibility allows for optimized purchasing decisions and improved supply chain efficiency.
- Cost Reduction and Operational Efficiency: Implementing RFID reduces labor-intensive inventory processes, cutting operational expenses by up to 30%. Automated tracking minimizes human errors, decreases inventory shrinkage, and accelerates stock reconciliation. Retailers can reallocate human resources to more strategic tasks, enhancing overall organizational productivity and profitability.
- Omnichannel Integration and Real-Time Synchronization: RFID enables seamless inventory synchronization across online and offline channels, creating a unified retail ecosystem. Retailers can provide real-time stock availability, support buy-online-pickup-in-store strategies, and offer personalized customer experiences. This technology bridges digital and physical retail landscapes, enhancing customer satisfaction and operational transparency.
- Adoption of RFID for Personalized Shopping Experiences: Retailers are using RFID to create personalized shopping experiences for customers. RFID-enabled smart shelves and fitting rooms can provide personalized recommendations based on a shopper’s preferences and past purchases. As the demand for personalized retail experiences grows, RFID is becoming a key enabler of customized product offerings and tailored shopping journeys, enhancing customer satisfaction and loyalty.
- Advanced Customer Experience Enhancement: RFID transforms retail interactions through intelligent fitting rooms, personalized recommendations, and frictionless checkout processes. By tracking customer preferences and movement patterns, retailers can create immersive shopping experiences, optimize store layouts, and deliver targeted marketing strategies that increase customer engagement and loyalty.
- Sustainability and Ethical Supply Chain Tracking: RFID technology enables comprehensive product lifecycle tracking, supporting sustainability initiatives and ethical sourcing. Retailers can verify product origins, monitor environmental impact, and provide transparency to environmentally conscious consumers. This opportunity allows brands to differentiate themselves by demonstrating commitment to responsible manufacturing and environmental stewardship.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the RFID in Retail Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the RFID in Retail Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The RFID in Retail Market is estimated to witness a CAGR of 15.6% from 2023 to 2031
Growing focus on precision inventory management and cost reduction and operational efficiency are the major factors driving the RFID in retail market
Integration of IoT and AI with RFID systems is anticipated to play a significant role in the global RFID in retail market in the coming years
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request
Some of the customization options available based on the request are an additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation# as our team would review the same and check the feasibility
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 RFID In Retail Market - By Product
1.3.2 RFID In Retail Market - By Frequency
1.3.3 RFID In Retail Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. RFID IN RETAIL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. ECOSYSTEM ANALYSIS
4.4. EXPERT OPINIONS
5. RFID IN RETAIL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. RFID IN RETAIL MARKET - GLOBAL MARKET ANALYSIS
6.1. RFID IN RETAIL - GLOBAL MARKET OVERVIEW
6.2. RFID IN RETAIL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. RFID IN RETAIL MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. TAGS
7.3.1. Overview
7.3.2. Tags Market Forecast and Analysis
7.4. READERS
7.4.1. Overview
7.4.2. Readers Market Forecast and Analysis
7.5. SOFTWARE
7.5.1. Overview
7.5.2. Software Market Forecast and Analysis
8. RFID IN RETAIL MARKET - REVENUE AND FORECASTS TO 2028 - FREQUENCY
8.1. OVERVIEW
8.2. FREQUENCY MARKET FORECASTS AND ANALYSIS
8.3. LOW
8.3.1. Overview
8.3.2. Low Market Forecast and Analysis
8.4. HIGH
8.4.1. Overview
8.4.2. High Market Forecast and Analysis
8.5. ULTRA-HIGH
8.5.1. Overview
8.5.2. Ultra-High Market Forecast and Analysis
8.6. OTHERS
8.6.1. Overview
8.6.2. Others Market Forecast and Analysis
9. RFID IN RETAIL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America RFID In Retail Market Overview
9.1.2 North America RFID In Retail Market Forecasts and Analysis
9.1.3 North America RFID In Retail Market Forecasts and Analysis - By Product
9.1.4 North America RFID In Retail Market Forecasts and Analysis - By Frequency
9.1.5 North America RFID In Retail Market Forecasts and Analysis - By Countries
9.1.5.1 United States RFID In Retail Market
9.1.5.1.1 United States RFID In Retail Market by Product
9.1.5.1.2 United States RFID In Retail Market by Frequency
9.1.5.2 Canada RFID In Retail Market
9.1.5.2.1 Canada RFID In Retail Market by Product
9.1.5.2.2 Canada RFID In Retail Market by Frequency
9.1.5.3 Mexico RFID In Retail Market
9.1.5.3.1 Mexico RFID In Retail Market by Product
9.1.5.3.2 Mexico RFID In Retail Market by Frequency
9.2. EUROPE
9.2.1 Europe RFID In Retail Market Overview
9.2.2 Europe RFID In Retail Market Forecasts and Analysis
9.2.3 Europe RFID In Retail Market Forecasts and Analysis - By Product
9.2.4 Europe RFID In Retail Market Forecasts and Analysis - By Frequency
9.2.5 Europe RFID In Retail Market Forecasts and Analysis - By Countries
9.2.5.1 Germany RFID In Retail Market
9.2.5.1.1 Germany RFID In Retail Market by Product
9.2.5.1.2 Germany RFID In Retail Market by Frequency
9.2.5.2 France RFID In Retail Market
9.2.5.2.1 France RFID In Retail Market by Product
9.2.5.2.2 France RFID In Retail Market by Frequency
9.2.5.3 Italy RFID In Retail Market
9.2.5.3.1 Italy RFID In Retail Market by Product
9.2.5.3.2 Italy RFID In Retail Market by Frequency
9.2.5.4 United Kingdom RFID In Retail Market
9.2.5.4.1 United Kingdom RFID In Retail Market by Product
9.2.5.4.2 United Kingdom RFID In Retail Market by Frequency
9.2.5.5 Russia RFID In Retail Market
9.2.5.5.1 Russia RFID In Retail Market by Product
9.2.5.5.2 Russia RFID In Retail Market by Frequency
9.2.5.6 Rest of Europe RFID In Retail Market
9.2.5.6.1 Rest of Europe RFID In Retail Market by Product
9.2.5.6.2 Rest of Europe RFID In Retail Market by Frequency
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific RFID In Retail Market Overview
9.3.2 Asia-Pacific RFID In Retail Market Forecasts and Analysis
9.3.3 Asia-Pacific RFID In Retail Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific RFID In Retail Market Forecasts and Analysis - By Frequency
9.3.5 Asia-Pacific RFID In Retail Market Forecasts and Analysis - By Countries
9.3.5.1 Australia RFID In Retail Market
9.3.5.1.1 Australia RFID In Retail Market by Product
9.3.5.1.2 Australia RFID In Retail Market by Frequency
9.3.5.2 China RFID In Retail Market
9.3.5.2.1 China RFID In Retail Market by Product
9.3.5.2.2 China RFID In Retail Market by Frequency
9.3.5.3 India RFID In Retail Market
9.3.5.3.1 India RFID In Retail Market by Product
9.3.5.3.2 India RFID In Retail Market by Frequency
9.3.5.4 Japan RFID In Retail Market
9.3.5.4.1 Japan RFID In Retail Market by Product
9.3.5.4.2 Japan RFID In Retail Market by Frequency
9.3.5.5 South Korea RFID In Retail Market
9.3.5.5.1 South Korea RFID In Retail Market by Product
9.3.5.5.2 South Korea RFID In Retail Market by Frequency
9.3.5.6 Others RFID In Retail Market
9.3.5.6.1 Others RFID In Retail Market by Product
9.3.5.6.2 Others RFID In Retail Market by Frequency
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa RFID In Retail Market Overview
9.4.2 Middle East and Africa RFID In Retail Market Forecasts and Analysis
9.4.3 Middle East and Africa RFID In Retail Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa RFID In Retail Market Forecasts and Analysis - By Frequency
9.4.5 Middle East and Africa RFID In Retail Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa RFID In Retail Market
9.4.5.1.1 South Africa RFID In Retail Market by Product
9.4.5.1.2 South Africa RFID In Retail Market by Frequency
9.4.5.2 Saudi Arabia RFID In Retail Market
9.4.5.2.1 Saudi Arabia RFID In Retail Market by Product
9.4.5.2.2 Saudi Arabia RFID In Retail Market by Frequency
9.4.5.3 U.A.E RFID In Retail Market
9.4.5.3.1 U.A.E RFID In Retail Market by Product
9.4.5.3.2 U.A.E RFID In Retail Market by Frequency
9.4.5.4 Rest of Middle East and Africa RFID In Retail Market
9.4.5.4.1 Rest of Middle East and Africa RFID In Retail Market by Product
9.4.5.4.2 Rest of Middle East and Africa RFID In Retail Market by Frequency
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America RFID In Retail Market Overview
9.5.2 South and Central America RFID In Retail Market Forecasts and Analysis
9.5.3 South and Central America RFID In Retail Market Forecasts and Analysis - By Product
9.5.4 South and Central America RFID In Retail Market Forecasts and Analysis - By Frequency
9.5.5 South and Central America RFID In Retail Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil RFID In Retail Market
9.5.5.1.1 Brazil RFID In Retail Market by Product
9.5.5.1.2 Brazil RFID In Retail Market by Frequency
9.5.5.2 Argentina RFID In Retail Market
9.5.5.2.1 Argentina RFID In Retail Market by Product
9.5.5.2.2 Argentina RFID In Retail Market by Frequency
9.5.5.3 Rest of South and Central America RFID In Retail Market
9.5.5.3.1 Rest of South and Central America RFID In Retail Market by Product
9.5.5.3.2 Rest of South and Central America RFID In Retail Market by Frequency
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. RFID IN RETAIL MARKET, KEY COMPANY PROFILES
11.1. ALIEN TECHNOLOGY, LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. APPLIED WIRELESS, INC.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ASSA ABLOY GLOBAL SOLUTIONS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. AVERY DENNISON CORPORATION
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CHECKPOINT SYSTEMS
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. GAO RFID INC.
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. HONEYWELL INTERNATIONAL INC.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NXP SEMICONDUCTORS
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SMARTRAC N.V.
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. ZEBRA TECHNOLOGIES CORP.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.Alien Technology, LLC
2.Applied Wireless, Inc.
3.ASSA ABLOY Global Solutions
4.Avery Dennison Corporation
5.Checkpoint Systems
6.GAO RFID Inc.
7.Honeywell International Inc.
8.NXP Semiconductors
9.Smartrac N.V.
10.Zebra Technologies Corp.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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