About RFID Tags
The RFID tags are a sort of tracking system, which uses smart barcodes to identify items. It may also be called an RFID chip. RFID stands for radio frequency identification, and RFID tags utilize radio frequency technology. These radio waves transmit data from the tag to a reader that then transmits the information to the RFID computer program. RFID tags are generally used for merchandise, however, they can also be used to track vehicles, pets, and even patients with Alzheimer’s disease. The technology is becoming more affordable, versatile, and powerful, and it is being adopted by businesses in an ever-wider range of applications. RFID tags look promising, driven by strong demand, technological advancements, and emerging applications. Addressing challenges and capitalizing on these trends will be key for sustained growth in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.3% |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing on production technologies, efficiency enhancement, and product life. There are various growth opportunities in this market which are captured by leading players via tracking the ongoing process enhancement and huge investment in market growth strategies Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global RFID Tags market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
NXP Semiconductors (Netherlands), Alien Technology, LLC (United States), Texas Instruments Incorporated (United States), STMicroelectronics (Switzerland), Huada Semiconductor Co., Ltd. (China), Coilcraft, Inc. (United States), Abracon (United States), AMA USA, Inc. (United States), Analog Devices, Inc. (United States), Atmel Corporation (United States), Shanghai Fudan Microelectronics Group Co., Ltd. (China), Zebra Technologies Corp. (United States), Shanghai Quanray Electronics Co., Ltd. (China) and Cisper (Netherlands) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Impinj, Inc. (United States), InfoChip LP. (United States), Fleetcor Technologies, Inc. (United States), ORBCOMM (United States), APKID (United Kingdom), HID Global Corporation (United States) and EM Microelectronic (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global RFID Tags market by Type (Active RFID, Passive RFID (Crypto RFID Passive Tags, Non-Crypto RFID Passive Tags) and Semi-Passive RFID), Application (Fleet Management, Assets, Inventory, & Parts Tracking, Pharmaceuticals, Medical Devices & Healthcare, Animal Traceability, Security Control Jewellery, Libraries and Others) and Region.
On the basis of geography, the market of RFID Tags has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Sales Channel, the sub-segment i.e. Direct will boost the RFID Tags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Frequency , the sub-segment i.e. Low Frequency will boost the RFID Tags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. RFID Chips will boost the RFID Tags market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Interest of the Retail Sector in RFID Technology
Market Growth Drivers:
The Rising Applications of RFID Tags within the Retail Stores and The Rising Demand for RFID Tags in the Aerospace Sector
Challenges:
The Major Challenge is the Price and Return on Investment (ROI) in the Implementation of RFID Technology
Restraints:
Concern about Security, Privacy, and Ethics Problems
Opportunities:
Emerging Demand from APAC Regions and Advancement in Technologies and Material Identification Management
Market Leaders and their expansionary development strategies
On May 20, 2022, HID Global acquired Vizinex RFID, a provider of high-performance RFID tags that are tailored to the exact requirements of customers. This acquisition was a strategic move for HID Global to expand its portfolio of high-performance passive RFID tags and strengthen its position in the market.
On May 11, 2022, SML Group, launched the Technology Innovation Development Center (TIDC), the first-ever RFID inlay R&D center and production hub in Hong Kong. It is a significant development for the industry, showcasing the company's commitment to innovation and growth.
Key Target Audience
RFID Tags Manufacturers, RFID Tags Traders/Distributors, RFID Tags Importer/Exporter, Technology Investors, Regulatory & Government Bodies and Downstream Vendors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.