India RFID Market (2024-2030) | Size, Value, Analysis, Forecast, Companies, Revenue, Growth, Share, Industry & Trends

Topics Covered in India RFID Market Report

India RFID Market Report thoroughly covers the market, by offering, frequency and application. India RFID Market Outlook report provides an unbiased and detailed analysis of the ongoing India RFID Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.

India RFID Market Synopsis

The India RFID market saw significant growth from 2020 to 2023, driven by the expansion of logistics, manufacturing and government initiatives. The logistics sector, strengthened by the Department of Commerce’s 2017 efforts and the 2022 National Logistics Policy, enhanced transportation efficiency and increased the need for tracking and inventory management solutions. Additionally, India’s investment in manufacturing, supported by the "Make in India" initiative and the push for semiconductor production, coupled with the Ministry of Defence’s US$ 67.66 billion allocation in the 2022-23 Union Budget, accelerated the adoption of RFID technology for supply chain tracking across the country.

According to 6Wresearch, India RFID Market is projected to grow at a CAGR of 11.0% from 2024-2030F. India's RFID market is set to grow significantly due to expansion in key sectors like logistics and manufacturing. By 2030, the logistics sector is projected to reach USD 378.69 billion, supported by government investments of USD 5.97 billion in multi-modal logistics parks and advanced tracking systems, further driving RFID adoption. In manufacturing, major investments, including over $15 billion from set up of manufacturing plants such as Tata Electronics and Tata Semiconductor Assembly, along with US$ 830 million) for the Semiconductors and Display Manufacturing Ecosystem, would significantly enhance automation and efficiency, boosting RFID demand for inventory management and supply chain optimization. Additionally, the retail sector’s anticipated addition of 40 million square feet of shopping mall space by 2027 in top cities like Delhi NCR (13.87 million sq ft) and Chennai (7.75 million sq ft), would further elevate the need for efficient inventory management, faster checkouts, enhanced customer experience, and improved supply chain visibility across India in coming years.

Market Segmentation By Offerings

Software and services are expected to experience higher growth in India’s RFID market due to increasing demand for customized solutions, improved data analytics capabilities, and enhanced system integration. The need for real-time tracking, inventory management, and operational efficiency drives businesses to invest in software that complements RFID hardware, fostering greater adoption and innovation in various sectors, including retail and logistics.

Market Segmentation By Frequency

Ultra High Frequency (UHF) is projected to see higher growth in India’s RFID market due to its longer read range, faster data transfer rates, and ability to track multiple items simultaneously. Increasing applications in sectors such as logistics, retail, and transportation, coupled with the rising demand for efficient inventory management and asset tracking solutions, further bolster UHF's market expansion.

Market Segmentation By Application

The government and defense sectors are poised for significant growth in India's RFID market due to the need for enhanced security, asset tracking, and efficient inventory management. The adoption of RFID in applications like FASTags for toll collection and railway monitoring minimizes accidents by enabling real-time tracking of vehicles and infrastructure. Additionally, government initiatives promoting technology integration in public services would further accelerate RFID implementation in these critical sectors.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India RFID Market Overview
• India RFID Market Outlook
• India RFID Market Forecast
• Historical Data and Forecast of India RFID Market Revenues for the Period 2020-2030F
• Historical Data and Forecast of India RFID Market Revenues, By Offerings, for the Period 2020-2030F
• Historical Data and Forecast of India RFID Market Revenues, By Frequency, for the Period 2020-2030F
• Historical Data and Forecast of India RFID Market Revenues, By Application, for the Period 2020-2030F
• Region-wise Porter’s Five Force Analysis
• India RFID Market Drivers and Restraints
• India RFID Market Trends and Evolution
• Market Opportunity Assessment, By Offerings
• Market Opportunity Assessment, By Frequency
• Market Opportunity Assessment, By Application
• India RFID Market Revenue Ranking, By Companies
• Market Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Offerings

• Tags
• Readers
• Software & Services

By Frequency

• Low Frequency
• High Frequency
• Ultra High Frequency

By Application

• Retail
• Transportation & Logistics
• Government & Defence
• Manufacturing
• Healthcare
• Commercial Sector & Ticketing
• Others (Livestock, Residential, etc)