India RFID Market is projected to grow at a CAGR of 11.0% from 2024-2030F

Retail sector by Application held the highest revenue share of India RFID Market -6Wresearch

In 2023, the retail sector accounted for the largest revenue share in India, primarily due to the increased adoption of RFID technology for efficient inventory management, enhanced customer experiences, and improved supply chain visibility. As the retail sector expands with the upcoming launch of more malls in the coming years, there would be increased utilization of RFID technology for efficient management, further driving market growth.

According to 6Wresearch, India RFID Market is projected to grow at a CAGR of 11.0% from 2024-2030F. The establishment of a logistics division by the Department of Commerce in July 2017, led by the Special Secretary to the Government of India, aims to promote integrated development in the sector. This initiative, along with the development of multi-modal logistics parks at 35 strategic locations involving a total investment of $5.97 billion, would significantly impact the RFID market in India.

Therefore, as the logistics infrastructure improves, there would be a growing demand for enhanced tracking, better inventory management, and increased operational efficiency throughout the supply chain, which would accelerate the adoption of RFID technology in India.

According to Parth, Senior Research Analyst, 6Wresearch, the tags generated highest revenue share in India due to increased demand for efficient inventory management, growing retail and logistics sectors, and rising awareness of RFID benefits. There is also recurring demand for tags driven by frequent replenishment needs, asset tracking, and the need for enhanced authentication. Additionally, government initiatives promoting technology adoption and modernization in industries further drive tag sales and revenue growth.

India RFID Market (2024-2030) report provides an in-depth analysis with 18 figures and 5 tables, covered in 66 pages. The report thoroughly covers the market, by offering, frequency and application. The report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high-growth areas, and market drivers which would help stakeholders devise and align their market strategies according to the current and future market dynamics.