South America Radio-Frequency Identification Technology (RFID) Market Research Report, 2029

South America Radio-Frequency Identification Technology (RFID) Market Research Report, 2029

Actual Market Research 31-01-2024 81 Pages Figures : 12 Tables : 25 Region : South America Category : IT & Telecommunications Technology

If you purchase this report now and we update it in new 100 days, get it free!

1. Honeywell International Inc.

2. Avery Dennison Corporation

3. Fujikura Kasei Co. Ltd.

4. Software AG

5. NXP Semiconductors N.V.


The RFID (Radio Frequency Identification) market in South America is experiencing dynamic growth, fueled by a convergence of factors driving adoption across diverse industries and sectors. As one of the fastest-growing regions globally, South America presents a fertile ground for RFID technology to thrive, offering a myriad of opportunities for businesses to enhance operational efficiency, improve supply chain visibility, and address regulatory compliance requirements. With increasing regulatory mandates, particularly in industries like food safety, pharmaceuticals, and customs compliance, businesses are turning to RFID solutions to ensure compliance and streamline their operations. Moreover, the persistent challenge of counterfeit products in South America has spurred the adoption of RFID technology for product authentication and traceability, safeguarding brand integrity and consumer safety. Beyond regulatory compliance and counterfeit prevention, RFID technology enables businesses to optimise their supply chains, reduce operational costs, and enhance productivity through automation and real-time asset tracking. Technological advancements, such as improved tag performance, IoT integration, and cloud-based solutions, further drive the adoption of RFID across industries, making it more accessible and scalable for businesses of all sizes. Government initiatives and support programmes further catalyse RFID adoption, fostering innovation and economic growth in the region. With its transformative potential and broad applicability across industries, the RFID market in South America is poised for continued expansion, offering businesses a pathway to greater efficiency, competitiveness, and success in the evolving digital landscape. According to the research report "South America Radio-Frequency Identification (RFID) Market Research Report, 2029," published by Actual Market Research, the South America Radio-Frequency Identification (RFID) market is projected to add more than USD 760 Million from 2024 to 2029. Various sectors in South America, including retail, healthcare, logistics, manufacturing, and agriculture, are increasingly recognising the benefits of RFID technology. This widespread adoption is driven by the need for enhanced operational efficiency, improved inventory management, better supply chain visibility, and increased security. RFID technology enables automation and streamlining of processes, leading to cost reductions and efficiency improvements for businesses in South America. By accurately tracking assets, monitoring inventory levels in real-time and optimising logistics operations, RFID helps organisations reduce labour costs, minimise errors, and improve overall productivity. Counterfeiting is a significant challenge in South America, particularly in industries such as pharmaceuticals, cosmetics, and luxury goods. RFID technology provides a powerful tool for product authentication, enabling businesses to verify the authenticity of goods throughout the supply chain and combat counterfeit products effectively. Advances in RFID technology, such as improved tag performance, increased read ranges, and enhanced data management capabilities, are making RFID solutions more accessible and affordable for businesses in South America. Additionally, innovation in areas like printable RFID tags, IoT integration, and cloud-based RFID systems is driving further adoption and expansion of RFID applications. Governments in South America are increasingly promoting the adoption of RFID technology through various initiatives and support programs. These initiatives aim to enhance supply chain visibility, improve public safety and security, and stimulate economic growth by fostering innovation and technological development in the region. As awareness of the benefits of RFID technology increases among businesses and industries in South America, there is a growing willingness to invest in RFID solutions. Education and training programmes, industry events, and successful use cases are helping to educate stakeholders about the value proposition of RFID and drive adoption across sectors. Market Drivers • Counterfeit Prevention: Counterfeiting is a prevalent issue in South America, particularly in industries such as pharmaceuticals, cosmetics, and luxury goods. RFID technology provides a powerful tool for counterfeit prevention by enabling product authentication and traceability throughout the supply chain, thereby protecting brand integrity and consumer safety. • Supply Chain Optimisation: RFID technology offers opportunities for supply chain optimisation by providing real-time visibility and tracking of goods throughout the supply chain. By accurately monitoring inventory levels, tracking assets, and optimising logistics operations, RFID helps businesses improve efficiency, reduce costs, and enhance overall supply chain performance. Market Challenges • Limited Infrastructure: In some regions of South America, especially rural areas, there is limited infrastructure to support RFID deployments. This includes access to reliable internet connectivity, an adequate power supply, and infrastructure for installing and maintaining RFID equipment. Without robust infrastructure, businesses may face challenges in implementing and sustaining RFID solutions effectively. • Education and Awareness: Many businesses in South America lack awareness of the potential benefits and applications of RFID technology. Educating stakeholders about the capabilities and value proposition of RFID, as well as providing training on how to effectively implement and utilise RFID systems, is essential for driving adoption. However, limited awareness and understanding of RFID technology can slow its adoption and inhibit its full potential in the region. Based on the product types, there are segmented tags, readers, and software and services. According to the frequency, it is segmented into low frequency, high frequency, and ultra-high frequency. In South America, readers lead the market. RFID readers are often the backbone of RFID systems, responsible for capturing and processing data transmitted by RFID tags. As businesses in South America invest in RFID technology to enhance operational efficiency, improve supply chain visibility, and address regulatory requirements, RFID readers become essential components of these deployments. Advancements in RFID reader technology, such as improved read ranges, faster processing speeds, and enhanced connectivity options, contribute to their widespread adoption in South America. These advancements enable businesses to deploy RFID readers in diverse environments and applications, from retail stores and warehouses to manufacturing facilities and healthcare settings. With advancements in technology and economies of scale, RFID readers have become more affordable and accessible to businesses in South America. The decreasing cost of RFID readers makes it easier for businesses of all sizes to invest in RFID technology and realise the benefits of improved efficiency, visibility, and compliance. In South America, the low frequency contributes to the market. LF RFID technology is known for its robust performance in challenging environments, including those with high levels of moisture, metal, or interference. In South America, where industries such as agriculture, mining, and oil and gas are prevalent, LF RFID systems are preferred for asset tracking, equipment monitoring, and personnel safety due to their resilience in harsh conditions. LF RFID operates at frequencies that are less susceptible to interference from metal and liquid compared to higher-frequency RFID technologies. This immunity to interference makes LF RFID technology suitable for applications where proximity to metal objects or liquids is common, such as in industrial settings or when tracking assets stored in metallic containers. In terms of the tag types active and passive, passive RFID tags are a leading market. Based on the end user, they are bifurcated into Retail, Healthcare, Logistics & Supply Chain, Transportation, Aerospace & Defence, Animal Tracking/Agriculture, Commercial, Security & Access Control, and Others. Passive RFID tags are generally more cost-effective compared to active RFID tags. This cost advantage makes passive RFID technology more accessible to businesses across various industries in South America, including retail, healthcare, logistics, and manufacturing. Businesses can deploy passive RFID tags in large volumes for applications such as inventory management, asset tracking, and supply chain optimisation without incurring significant expenses. In South America, passive RFID tags are used in diverse settings, including retail stores, warehouses, distribution centres, hospitals, and manufacturing facilities. These tags can be attached to a variety of items, including products, assets, equipment, and vehicles, enabling businesses to track and manage their resources effectively. Passive RFID tags have improved read ranges compared to earlier generations, enabling businesses in South America to deploy RFID systems in larger environments and achieve greater coverage. This increased read range allows passive RFID technology to be used effectively in applications such as inventory management, asset tracking, and access control across a wide range of industries and settings. Furthermore, the logistics and supply chain are increasing the use of RFID technology. RFID technology enables real-time tracking and monitoring of inventory throughout the supply chain. In South America, where logistics operations can be complex and geographically dispersed, RFID provides visibility into the movement and location of goods, leading to improved inventory accuracy and reduced stockouts. RFID tags can be attached to assets such as containers, pallets, and vehicles, enabling businesses to track their movement and usage in real-time. In South America, where logistics operations often involve the transportation of goods across long distances and challenging terrain, RFID helps businesses optimize asset utilization, prevent loss or theft, and improve asset maintenance and lifecycle management. RFID can be integrated with other technologies, such as GPS, sensors, and cloud-based platforms, to create comprehensive logistics solutions tailored to the needs of businesses in South America. These integrated solutions enable real-time monitoring, predictive analytics, and decision support, empowering businesses to make informed decisions and optimise their logistics and supply chain operations. According to the report, the major countries covered in the report include Brazil, Argentina, Colombia, and the rest of South America. Brazil has the largest economy in South America and is home to a diverse range of industries, including retail, manufacturing, agriculture, healthcare, and logistics. The sheer size and economic influence of Brazil make it a significant player in the RFID market, with a large potential customer base and demand for RFID solutions across various sectors. Brazil's robust industrial and commercial activity drives demand for RFID technology in key sectors such as retail, manufacturing, and logistics. With a thriving retail sector, an extensive manufacturing base, and complex supply chain networks, Brazil presents ample opportunities for RFID adoption to improve operational efficiency, enhance supply chain visibility, and meet regulatory requirements. The Brazilian government has shown a proactive stance towards promoting technology adoption and innovation, including RFID technology. Initiatives such as tax incentives, investment subsidies, and industry partnerships encourage businesses to invest in RFID solutions to improve competitiveness, drive growth, and enhance productivity. Brazil has implemented regulatory requirements and industry standards that mandate the use of RFID technology in certain sectors, such as food safety, pharmaceuticals, and logistics. Compliance with these regulations drives RFID adoption as businesses seek to ensure product traceability, authenticity verification, and regulatory compliance throughout the supply chain. Brazil boasts a vibrant technology ecosystem with a growing number of RFID solution providers, research institutions, and innovation hubs. Technological advancements in RFID hardware, software, and applications cater to the specific needs and challenges of Brazilian businesses, driving adoption and market leadership in the region. The RFID market is characterised by a diverse range of companies, each contributing uniquely to the industry's landscape. There are many companies that are operating segments of the RFID market, including Zebra Technologies Corporation, Avery Dennison Corporation, Honeywell International Inc., Impinj, Inc., Assa Abloy AB, NXP Semiconductors N.V., Datalogic S.p.A., Invengo Information Technology Co., Ltd., ORBCOMM Inc., CCL Industries Inc., and many more. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • RFID market Research Report with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product type • Tags • Readers • Software & Services 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 • 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 and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone 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 making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the RFID industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services