MarketsandMarkets: RFID Market Set to Exceed USD 30 Billion by 2034 as Automation and Digital Tracking Accelerate
The global RFID market is projected to grow from USD 14.58 billion in 2025 to USD 30.47 billion by 2034, registering a compound annual growth rate (CAGR) of 8.5%, according to the latest market report published by MarketsandMarkets
The steady expansion is being driven by the rising adoption of automated identification technologies, real-time asset tracking, and RFID-enabled digital transformation across multiple industries.
Retail, transportation, logistics and warehousing, industrial manufacturing, and healthcare and pharmaceutical sectors are identified as the primary growth engines, as organizations increasingly rely on RFID to enhance operational visibility, accuracy, and efficiency. The report highlights that wider deployment of RFID tags, readers, and software platforms—combined with deeper integration with IoT and enterprise systems—is reshaping how businesses manage inventory, assets, and secure identification processes.
From a regional perspective, Asia Pacific is expected to record the fastest growth in the RFID market, expanding at a CAGR of 10.5%. This growth is supported by rapid retail expansion, increasing manufacturing capacity, and accelerated logistics digitalization across major economies including China, India, Japan, and South Korea.
Segment-wise, RFID tags accounted for the largest share of the market in 2024, representing approximately 51%, driven by large-scale item-level tagging and asset tracking deployments across retail and supply chain operations. High-frequency (HF) RFID also dominated by frequency segment, holding a 57% market share in 2024, supported by strong adoption in contactless payments, access control, ticketing, and secure identification applications. Meanwhile, the labels segment is forecast to register the highest CAGR of 12.4% between 2025 and 2034, fueled by high-volume use in retail inventory management and warehouse automation.
Contactless payments emerge as another high-growth area, with the segment projected to grow at a CAGR of 11.8%, reflecting rising adoption of digital payments, NFC-enabled systems, and transit fare collection platforms. Retail remains the largest vertical in the RFID market, driven by widespread item-level tagging initiatives, inventory accuracy programs, and omnichannel fulfillment strategies among global retailers.
The report identifies Zebra Technologies, Avery Dennison, Honeywell, HID Global, and Datalogic as leading players in the RFID ecosystem, supported by broad product portfolios and strong enterprise deployments. At the same time, companies such as ORBCOMM, Mojix, eAgile, Omni-ID, and Omnitas are strengthening their market positions through innovation in RFID hardware, software platforms, and industry-specific solutions.
According to MarketsandMarkets, ongoing trends in retail digitalization, e-commerce growth, smart logistics, and contactless services will continue to reshape RFID adoption. These developments are pushing enterprises to deploy RFID-based solutions for real-time visibility, automation, and secure identification, reinforcing RFID’s role as a foundational technology in data-driven and high-velocity operational environments.
