This report provides a comprehensive overview of Radio Frequency Identification (RFID) technology. It begins by explaining the fundamental working principles of RFID, including its key components like RFID tags, readers, and antennas, and then details the different types of RFID tags, such as passive, semi-passive, and active. The report then discusses the business and technical problems that RFID technology solves, including improved asset tracking, inventory management, and automated toll payments, and also compares RFID with barcode and QR code technologies. Furthermore, it addresses the limitations of RFID, like security vulnerabilities and cost, while also providing a case study of RFID implementation at Walmart and showcasing its applications in various market sectors, including retail, banking, healthcare, and supply chain management. The report concludes by emphasizing the potential of RFID to enhance operational efficiency and security across diverse industries.