Rise in demand for RFID in the banking and healthcare sector, rise in efficiency offered by RFID tags, and inclination toward RFID products have boosted the growth of the India RFID market
Rise in demand for RFID in banking and healthcare sector, rise in efficiency offered by RFID tags, and inclination toward RFID products have boosted the growth of the India RFID market. However, tag collision hinders market growth. On the contrary, innovation of cloud-based systems is expected to open new opportunities for the market players in the future.
As per the report published by Allied Market Research, the India RFID market is projected to reach $1.86 billion by 2030, growing at a CAGR of 14.1% from 2021 to 2030. The report highlights market characteristics, market potential, growth by segmentation, and competitive landscape.
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Covid-19 pandemic impact on the market:
- The Covid-19 pandemic significantly affected the electronics and semiconductor sector due to rise in the number of Covid-19 cases. The partial or completed lockdown disrupted the supply chain and created challenges for manufacturers to reach customers.
- The outbreak forced companies to closed their manufacturing facilities to curb the spread of the virus.
Based on project type, the tags segment is anticipated to hold the largest share during the forecast period. In addition, the segment is expected to register the highest CAGR of 14.6% during the forecast period.
On the basis of frequency, the high-frequency segment is projected to manifest the highest CAGR of 14.9% during the forecast period. In addition, the segment is estimated to contribute the highest share during the forecast period.
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Based on application, the transportation segment is expected to register the highest CAGR of 16.2% during the forecast period. However, the retail segment would hold the largest share during the forecast period.
The India RFID market includes an in-depth analysis of the prime market players such as Alien Technology, LLC, Bar Code India Limited (BCI), Avery Dennison Corporation, Bartronics India Limited, Bartech Data Systems Pvt. Ltd, Identiv, Inc., Honeywell International Inc., NXP Semiconductors N.V., Infotek Software & Systems Ltd. (i-TEK), and Zebra Technologies Corporation
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About Allied Market Research:
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