South Korea Radio-Frequency Identification (RFID) Market Overview, 2029

South Korea is known for its enthusiasm and rapid adoption of new technologies. The culture reflects a willingness to embrace innovations like RFID that can bring efficiency, convenience, and improved services. RFID technology is intertwined with South Korea's broader initiative to develop smart cities. The focus on creating intelligent, connected urban environments encourages the integration of RFID for applications ranging from transportation to waste management. Furthermore, the South Korean government has played a pivotal role in fostering a culture of RFID adoption. Supportive policies, funding for research and development, and the establishment of standards have created an environment conducive to the widespread implementation of RFID technology. Applications such as contactless payment systems, smart transportation cards, and access control in public spaces align with the desire for efficient and convenient urban living. The adoption of RFID technology in South Korea gained momentum in the early 2000s. During this period, various industries recognised the potential of RFID for improving operational efficiency and supply chain visibility. South Korean companies began implementing RFID solutions for applications such as inventory management, logistics, and access control. In the 2010s, South Korea intensified its focus on smart city initiatives. RFID technology became an integral component of these projects, contributing to smart transportation systems, efficient waste management, and enhanced urban services. Smart city deployments leveraged RFID for applications like automated toll collection, public transportation ticketing, and waste bin monitoring. In recent years, the South Korean RFID market has continued to evolve with ongoing innovation and diversification of applications. RFID technology is integrated into various sectors, including agriculture, manufacturing, and tourism. The market has witnessed advancements in RFID solutions, such as the development of more sophisticated tags, sensors, and systems.

According to the research report "South Korea Radio-Frequency Identification (RFID) Market Overview, 2029," published by Bonafide Research, the South Korea Radio-Frequency Identification (RFID) market is anticipated to grow at more than 12% CAGR from 2024 to 2029. RFID is a key component of the smart city projects that South Korea has been aggressively investing in. Using RFID in trash management, public transit, and other areas improves the sustainability and general efficiency of urban living. Furthermore, the South Korean government has been supportive of RFID adoption, offering policies and incentives to encourage its use. Initiatives include funding for research and development, subsidies for RFID projects, and the establishment of standards to ensure interoperability. South Korea's strong emphasis on manufacturing and export-oriented industries drives the demand for RFID in logistics and supply chain optimization. RFID technology improves inventory management, enhances visibility, and ensures the smooth flow of goods, particularly in industries like automotive, electronics, and textiles. The retail sector in South Korea is embracing RFID for inventory management and customer experience enhancement. RFID enables retailers to streamline operations, reduce stockouts, and provide a seamless and personalised shopping experience for consumers. RFID technology is widely used in South Korea's public transportation systems. Contactless smart cards equipped with RFID facilitate seamless travel experiences, from buses and subways to high-speed trains. This contributes to efficient and convenient urban mobility.

Based on the product types, there are segmented tags, readers, and software and services. Among them, tags are a growing market, and the need for RFID tags has increased due to South Korea's dedication to the construction of smart cities. RFID tags are widely used in smart city initiatives for waste management, public services, and smart transportation. The market for RFID tags is expanding as a result of the initiatives' greater use of RFID. The logistics and supply chain sectors in South Korea heavily rely on RFID tags for inventory management, asset tracking, and efficient supply chain operations. RFID tags help businesses achieve real-time visibility into their logistics processes, reduce errors, and enhance overall supply chain efficiency. RFID tags are integrated into consumer electronics for various purposes, including inventory management, anti-counterfeiting measures, and supply chain visibility. South Korea's status as a technology hub and its focus on innovation drive the adoption of RFID tags in the consumer electronics sector. In terms of the tag types active and passive, active RFID tags contribute a significant market share. Active RFID tags are equipped with their own power source, allowing them to transmit signals over longer distances compared to passive RFID tags. This capability enables real-time tracking and monitoring of assets, vehicles, and personnel, making active RFID ideal for applications that require continuous location updates and status monitoring. In South Korea's highly industrialised and export-oriented economy, logistics and supply chain management are crucial for maintaining competitive advantages. Active RFID tags are used to track high-value assets, containers, and shipments throughout the supply chain, providing real-time visibility and improving inventory accuracy.

According to the frequency, it is segmented into low frequency, high frequency, and ultra-high frequency. Among them, high frequency is leading the market, and high-frequency RFID technology is commonly used in smart card applications. South Korea has widespread adoption of contactless smart cards for various purposes, including public transportation, access control, and electronic payments. The use of high-frequency RFID facilitates fast and reliable communication in these smart card systems. The widespread use of these cards contributes to the prevalence of high-frequency RFID in the country. In the healthcare sector, high-frequency RFID is often employed for applications such as patient tracking, asset management, and the monitoring of medical equipment. The reliable and secure communication offered by high-frequency RFID makes it suitable for healthcare environments where accuracy and efficiency are paramount. 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 South Korea, healthcare is the leading market. RFID tags are used for patient tracking and identification in healthcare facilities. Each patient may be assigned a unique RFID tag, which allows for accurate tracking of their movement throughout the facility. This helps healthcare providers locate patients quickly, manage patient flow, and ensure that patients receive timely care. South Korea is known for its innovation in healthcare technology, and RFID plays a key role in driving innovative solutions. From RFID-enabled smart hospital systems to wearable devices for patient monitoring, South Korean healthcare organisations leverage RFID technology to enhance patient care, improve operational efficiency, and drive technological advancements in the healthcare sector.?

Considered in this report:
• Geography: South Korea
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029



Aspects covered in this report:
• South Korea 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

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.

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.