India Radio-Frequency Identification (RFID) Market Research Report, 2029

The Radio-Frequency Identification (RFID) market in India is expanding quickly. For new entrants, the significant initial investment remains a problem. In order to lower the overall cost of RFID goods, market participants are liberally funding research and development efforts to create better components. Industry analysts state that long-term success in RFID products made in India requires optimizing reasonable rates. High returns on investment and the availability of affordable RFID technologies are expected to fuel the growth of the India Radio-Frequency Identification (RFID) market. Moreover, the market's overall growth is boosted by the growing installation of RFID systems in industrial facilities to increase productivity. High acquisition costs, however, are a significant barrier to the Radio-Frequency Identification (RFID) market in India. Conversely, the RFID business in India is predicted to benefit greatly from the increased need for contact-tracing technologies. Leading RFID companies, such as NXP Semiconductors, Honeywell International Inc., and Zebra Technologies Corp., are focusing their investments on more innovative, cost-effective, and safe products and solutions for a variety of applications. Although the technology was introduced to India in the early 2000s, adoption issues still exist. Shops using RFID technology face a number of difficulties, including expenses and adjustments to their operational procedures. Due to their restricted operating budgets, many SMEs require high-quality, reasonably priced solutions. Projects may get more complex when local needs are customized. According to him, interoperability problems are caused by fragmented tech stacks and inadequate infrastructure, necessitating expert integration. Retailers, particularly small and medium-sized enterprises (SMEs) with tight budgets, may have to make a sizable initial investment in RFID technology, including tags, readers, and software. Changing workflows and procedures is a common part of implementing RFID, and this can have an impact on current operations. According to the research report "India Radio-Frequency Identification (RFID), 2029," published by Actual Market Research, the India Radio-Frequency Identification (RFID) Market is expected to grow with more than 14% CAGR from 2024 to 2029. High return on investment and the availability of affordable RFID technologies are expected to fuel the growth of the India Radio-Frequency Identification (RFID) market. Moreover, the market's overall growth is boosted by the growing installation of RFID systems in industrial facilities to increase productivity. Nonetheless, one of the main obstacles to the Radio-Frequency Identification (RFID) market in India is the high cost of acquisition. Conversely, the RFID business in India is predicted to benefit greatly from the increased need for contact-tracing technologies. The greater efficiency provided by RFID tags and the growing need for RFID in the banking and healthcare sectors are the main factors influencing the growth of the India Radio-Frequency Identification (RFID) market. The Radio-Frequency Identification (RFID) market in India is expanding due to merchants' increasing inclination towards RFID goods. But worries of tag collisions limit the market's expansion. On the other hand, the market is anticipated to benefit greatly from cloud-based system innovation. RFID technology is expected to be essential in helping India's rapid transition to a future that is more efficient and technologically advanced. In addition to bolstering India's digital aspirations, ID Tech's pledge to produce RFID Readers and Tags there is evidence of the company's commitment to offering superior, regional solutions.

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Based on the Product type the market is divided into Tags, Readers, and Software & Services. The market leader is the reader’s category. In India, the RFID (Radio Frequency Identification) market's Tags category is becoming more significant. The implementation of RFID technology across multiple sectors has been encouraged by the Indian government. For instance, RFID tags are used in logistics and transportation to track vehicles and collect tolls. RFID tag demand is further increased by government efforts like the products and Services Tax (GST) and the National Agricultural Market (e-NAM), which also enhance the need for effective products tracking and tracing. Benefits from RFID tags include increased inventory accuracy, lower labor costs, and higher operational efficiency. RFID technology, including tags, is becoming a desirable option for Indian firms looking to streamline their processes and cut expenses. Based on the Tag Type the market is divided into Passive, Active. In India's RFID (Radio Frequency Identification) industry, the passive segment is dominating, while the active category is becoming more significant. Active RFID tags can broadcast their signal constantly since they have a power source (typically a battery). Real-time asset tracking and monitoring is made possible by this functionality. The capacity to follow the flow of products and vehicles in real-time is beneficial for several Indian industries, particularly supply chain management, transportation, and fleet management, as it improves operational efficiency and maximizes asset usage. Compared to passive RFID tags, active tags are able to send a greater amount of data, including sensor data like motion, humidity, and temperature. Based on the Frequency the market is divided into Low Frequency (30 KHz to 300 KHz), High Frequency (3 to 30 MHz), and Ultra-High Frequency (300 MHz to 3GHz). In the Indian RFID (Radio Frequency Identification) industry, the High Frequency (3 to 30 MHz) segment is becoming more significant. Applications that rely on proximity and contactless transactions are ideal for high-frequency RFID technology. The need for high-frequency RFID solutions is rising in India, where contactless payment methods and access control systems, such smart cards and NFC (Near Field Communication) devices, are becoming more and more important. Smart cards and access control systems frequently use high-frequency RFID technology for tasks including employee identification, building access, and collecting fares for public transportation. High-frequency RFID-based secure and effective access control systems are becoming more and more in demand as smart city projects and digital identity solutions gain traction in India.

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Kripa Shah

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Based on the Application type the market is divided into Retail Healthcare, Logistics & Supply Chain, Transportation, Aerospace & Defense, Animal Tracking/Agriculture, Commercial Security and Access Control, Others (Apparel, Food, Sports, Ticketing, etc.). RFID technology is becoming more and more popular in India's retail sector, expanding its application outside the field of medicine. RFID has been adopted by companies like Decathlon India and Azorte Reliance, allowing for accurate and quick inventory management and doing away with the need for tedious human scanning. Additionally, the addition of smart fitting rooms and RFID-enabled interactive screens is improving the whole shopping experience by providing consumers with convenient and personalized experiences that encourage them to return to physical stores. Considered in this report: • Geography: India • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • India Radio-Frequency Identification (RFID) market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation

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By Product type: • Tags • Readers • Software & Services • Others By Tag Type: • Passive • Active By Frequency: • Low Frequency (30 KHz to 300 KHz) • High Frequency (3 to 30 MHz) • Ultra-High Frequency (300 MHz to 3GHz) By Application: • Retail • Healthcare • Logistics & Supply Chain • Transportation • Aerospace & Defence • Animal Tracking/Agriculture • Commercial • Security and Access Control • Others (Apparel, Food, Sports, Ticketing, etc.) The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Radio-Frequency Identification (RFID) Industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.