RFID market trends in the following five years

The RFID sector is constantly growing, also in 2023, the year in which the analysis and research company, IDTechEx, forecasts a market value of 14 billion dollars, easily exceeding the 12.8 billion for 2022.

The segment includes labels, cards, fobs and other RFID formats, as well as tags, scanners and inactive and active software/services for RFID; these include, moreover, "Passive RFID tags" representing over half of the total RFID market. According to the analysis carried out by IDTechEx, in 2023 39.3 billion passive RID tags will be sold, data which testify to a significant step forward from the 33 billion in 2022 and a two-figure growth rate due mostly to UHF passive RFID tags.

The company also forecasts sales of UHF (RAIN) tags accounting for 30% of HF tag sales, including NFC. It is a trend due mainly to the high price of the HF tags used for the security of critical operations such as payments and access, compared to UHF (RAIN) tags, less costly and largely disposable, which are used for labelling objects. Despite this growth, the RFID market needs to face a series of problem areas, particularly those relating to the global supply chain that began in 2021 and still has to be resolved. In general, the fall in global GDP has led to a number of sectors reducing the acquisition of RFID tags, potentially slowing down the growth rate.

Among the best-performing sectors is the labelling of retail garments, in a sector that has an ecosystem of solutions and functions already set up for the application of RFID technology, something which, moreover, occurs in any context in which it is necessary to reduce costs, and optimisation and organization of the logistics chain.

Our network