RFID Investment Opportunities in APAC Market Size

APAC RFID Market Analysis

The RFID Investment Opportunities in APAC Market size is estimated at USD 5.11 billion in 2024, and is expected to reach USD 7.06 billion by 2029, growing at a CAGR of 6.68% during the forecast period (2024-2029).

Technological advancements have led to new approaches within the RFID technology like microprocessors with 5.8 GHz tags for smart cards and chipless IDs that enable contactless communication even in the absence of a silicon chip.

• The RFID technology has emerged as a low-cost alternative for RFID system and has the potential to penetrate mass markets for low-cost item tagging, considering the high cost of silicon RFID transponders compared to optical barcodes.
• The APAC region is forecasted to be the greatest user of RFID technology and will witness strong growth in RFID revenues owing to increasing opportunities of RFID applications in countries such as India, China, Japan, South Korea and Taiwan.
• For instance, The Institute of Electrical and Electronics Engineers (IEEE) estimated that by 2020, more than 50 billion objects would be networked, of which many will use chipless RFID.
• The government support and initiatives for the use of Radio Frequency Identification (RFID) technology across various industrial verticals such as national ID cards and transportation, in addition increasing acceptance of RFID technology by private players has also added strong potential to RFID market.
• Many alternate labelling methods are being developed like linear barcoding and 2D data matrix barcoding, which hamper the growth of RFID. GS1 logistics label is the latest example which is used in the serial shipping container.