The market is estimated to rise to $31.5 billion by 2031, with an expected CAGR of 10.2% from 2022 to 2031. This market sizing includes all the tags, readers, and software designed for RFID cards and RFID key fobs, including all form factors. The NFC market, on the other hand, reached $23.1 billion in the same year. IDTechEx found that the RFID market was worth $12.8 billion in 2022.
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