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

With a robust economy and a burgeoning interest in innovation, Mexico has embraced RFID solutions to enhance efficiency, security, and visibility in various sectors. From supply chain management and retail to healthcare and manufacturing, Mexican businesses are leveraging RFID technology to streamline operations, reduce costs, and stay competitive in the global market. The RFID market in Mexico reflects a commitment to technological advancement, fostering a business environment where organisations seek to optimise processes, improve traceability, and ensure compliance with industry standards. As the adoption of RFID continues to expand, Mexico's RFID market is poised for sustained growth, contributing to the country's positioning as a key player in the broader landscape of technology-driven solutions. In Mexico, the development of RFID can be traced back to the early to mid-20th century, when the first rudimentary forms of radio frequency identification were conceptualised and tested. Early applications included military use during World War II. RFID technology saw early commercial applications in the 1970s and 1980s. The focus during this period was largely on asset tracking and access control systems. Barcode technology was more prevalent at this time, but RFID offered advantages in terms of automation and non-line-of-sight reading. The 1990s marked significant advancements in RFID technology, with the development of standards and increased interest across industries. The introduction of Electronic Product Code (EPC) standards, especially in retail and supply chain applications, laid the groundwork for broader adoption. Furthermore, the late 2000s and early 2010s saw RFID technology become more mature and cost-effective. Its applications expanded to various industries, including healthcare, manufacturing, and agriculture. The technology's capabilities for asset tracking, real-time data capture, and improved analytics were increasingly recognised. According to the research report "Mexico Radio-Frequency Identification (RFID) Market Research Report, 2029," published by Actual Market Research, the Mexico Radio-Frequency Identification (RFID) market is expected to reach a market size of more than USD 700 Million by 2029. Mexico is a significant player in supply chains, particularly in manufacturing and trade. RFID technology is widely adopted to optimise supply chain processes, offering real-time visibility, accurate tracking, and improved inventory management. The ability of RFID to enhance efficiency in logistics and distribution contributes to its growing demand. In the retail sector, RFID is utilised for inventory management, reducing stockouts, minimising theft, and improving overall operational efficiency. Mexican retailers are leveraging RFID to enhance the accuracy of stock levels, automate inventory control, and enhance the customer shopping experience. RFID is increasingly being applied in industrial settings for asset tracking, production monitoring, and quality control. Mexican industries, including manufacturing and automotive, deploy RFID technology to optimise processes, ensure the timely availability of materials, and enhance overall productivity. Due to Mexico’s’ prominence in international trade, RFID is employed to facilitate efficient cross-border movements. The technology aids in compliance with trade regulations and enhances visibility in the movement of goods, contributing to smoother international trade operations. The expansion of e-commerce activities in Mexico has increased the demand for RFID technology. RFID facilitates accurate order fulfilment, shipment tracking, and efficient management of goods in the e-commerce supply chain, aligning with the changing dynamics of consumer preferences. Ongoing advancements in RFID technology, including smaller and more cost-effective tags, improved read ranges, and enhanced data analytics capabilities, contribute to the growing adoption of RFID solutions in Mexico. These advancements make RFID more accessible and applicable to a wider range of industries. Based on the product types, there are three segments, tags, readers, and software and services. Among them, the reader market is leading market. As RFID technology finds applications in diverse sectors such as retail, logistics, healthcare, and manufacturing, the demand for RFID reader’s increases. RFID readers are essential components that capture data from RFID tags, enabling businesses to leverage RFID technology for various use cases. Mexico's role in global supply chains and trade necessitates efficient logistics and supply chain management. RFID readers play a crucial role in providing real-time visibility into the movement of goods, optimising inventory, and enhancing overall supply chain efficiency. In manufacturing, RFID readers are employed for tracking and monitoring the production process. They help in ensuring the right components are used, streamlining assembly lines, and providing real-time data for process optimization. In terms of the tag types active and passive, active RFID tags have a growing market. Active RFID tags often have more onboard memory compared to passive tags. This increased data capacity allows for storing additional information, such as sensor data or detailed asset information. Industries in Mexico looking for more comprehensive data sets prefer active RFID for its enhanced memory capabilities. Active RFID tags typically have longer battery life compared to other wireless technologies like GPS. This extended battery life makes active RFID a reliable choice for long-term deployments, reducing the need for frequent maintenance and replacement of tags. According to the frequency, it is segmented into low frequency, high frequency, and ultra-high frequency, among which the ultra-high frequency contributes to the market. UHF RFID technology is known for its versatility and extended read ranges. This makes it suitable for various applications, including supply chain management, inventory tracking, and logistics, where the ability to read tags from a distance is crucial. The versatility of UHF RFID makes it applicable across multiple industries in Mexico. In Mexico, a country with a significant role in global supply chains, UHF RFID is often chosen for its ability to enhance supply chain visibility and efficiency. UHF RFID tags can be read rapidly and simultaneously, allowing for quick and accurate tracking of items as they move through the supply chain. Based on the end user, they are bifurcated into Retail, Healthcare, Logistics & Supply Chain, Transportation, Aerospace & Defence, Animal Tracking/Agriculture, Commercial, Security and Access Control, and Others. Among them, in Mexico, the Logistics & Supply Chain is a growing market. RFID enables accurate and efficient inventory management, reducing manual errors and streamlining stock tracking processes. In Mexico, where efficient inventory management is crucial for timely deliveries and optimal stock levels, RFID helps automate processes and maintain accurate inventory records. RFID technology adheres to global standards, ensuring interoperability and compatibility across different systems and supply chain partners. This compliance facilitates seamless integration into existing logistics and supply chain processes in Mexico, aligning with industry best practices. Considered in this report: • Geography: Mexico • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029

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Aspects covered in this report: • Mexico 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 By Products Types: • Tags • Readers • Software & Services By Tag Types: • Passive • Active

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Kripa Shah

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By Frequency Types: • Low Frequency • High Frequency • Ultra-High Frequency By End User • Retail • Healthcare • Logistics & Supply Chain • Transportation • Aerospace & Defense • Animal Tracking/Agriculture • Commercial • Security and Access Control • Others 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.

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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.