Global Radio Frequency Identification (RFID) Technology Market to Reach $57.2 Billion by 2026
SAN FRANCISCO, May 14, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Radio Frequency Identification (RFID) Technology - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Amid the COVID-19 crisis, the global market for Radio Frequency Identification (RFID) Technology estimated at US$27.1 Billion in the year 2020, is projected to reach a revised size of US$57.2 Billion by 2026, growing at a CAGR of 13.3% over the analysis period. Tags, one of the segments analyzed in the report, is projected to record a 15% CAGR and reach US$33.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Readers segment is readjusted to a revised 11.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.1 Billion in 2021, While China is Forecast to Reach $13.9 Billion by 2026
RFID Software Segment to Reach $8.6 Billion by 2026
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SOURCE Global Industry Analysts, Inc.
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