Rfid Tags
RFID Tags Market Forecasts to 2030 - Global Analysis By Product Type (Correctional Tags, Healthcare Tags and Other Product Types), Tag Type (Passive, Semi-Passive and Active), Frequency Band (Ultra High Frequency, Microwave Frequency, Low Frequency and High Frequency), Material, Form Factor, End User and By Geography
According to Stratistics MRC, the Global RFID Tags Market is accounted for $15.55 billion in 2024 and is expected to reach $41.76 billion by 2030 growing at a CAGR of 17.9% during the forecast period. RFID (Radio-Frequency Identification) tags are small electronic devices that store and transmit data wirelessly through radio waves. Consisting of a microchip and an antenna, RFID tags are used for tracking and identifying objects, animals, and even people. RFID (Radio Frequency Identification) tags have become ubiquitous in various sectors due to their versatility and efficiency. Moreover, RFID technology finds applications in access control systems, enabling keyless entry and secure authentication in buildings and vehicles.
According to Avery Dennison, implementing RFID-based labels in the Aviation industry has reduced mishandling rates by 13% and has cut ramp loading time by around 4 minutes per aircraft turn.
Market Dynamics:
Driver:
Rising demand for smart packaging
Smart packaging, leveraging RFID technology, offers a range of benefits including real-time tracking, inventory management, and enhanced consumer engagement. RFID tags embedded within packaging enable seamless monitoring of product movement throughout the supply chain, optimizing logistics and minimizing losses. Moreover, the integration of RFID tags with smart packaging facilitates improved product authentication and anti-counterfeiting measures, ensuring product integrity and consumer safety. As industries increasingly prioritize efficiency, transparency, and sustainability in their operations, the adoption of smart packaging solutions becomes imperative, thereby driving the expansion of the RFID tags market.
Restraint:
High cost of RFID tags
The high cost of RFID tags poses a significant barrier to the widespread adoption and growth of the RFID tags market. These tags are essential for tracking and managing inventory, assets, and even individuals in various industries such as retail, healthcare, and logistics. The expense associated with RFID tags can deter businesses from implementing RFID technology on a large scale. The cost includes not only the tags themselves but also the necessary infrastructure, such as readers and software systems. However, the high initial investment may not always guarantee immediate returns, further dissuading organizations from embracing RFID solutions.
Opportunity:
Rising focus on inventory management
The rising emphasis on inventory management is propelling the RFID (Radio Frequency Identification) tags market forward as businesses increasingly recognize the pivotal role of real-time tracking and data analytics in optimizing operations. RFID technology enables seamless monitoring of inventory levels, locations, and movements, offering unparalleled visibility throughout the supply chain. With the ability to automatically identify and track items using radio waves, RFID tags eliminate manual data entry errors and streamline inventory management processes.
Threat:
Lack of battery power
The RFID tags market is significantly impacted by the limitation of battery power, predominantly in active RFID tags. These tags, which rely on battery power for their operation, face challenges in terms of size, cost, and maintenance. The need for periodic battery replacement or recharging increases operational costs and complexity, particularly in large-scale deployments across industries like supply chain management and asset tracking. However, battery-powered RFID tags often have larger form factors, limiting their applicability in certain environments where space is constrained.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the RFID (Radio Frequency Identification) tags market. The disruption in global supply chains led to delays in production and distribution of RFID tags, affecting availability and increasing costs. The widespread economic downturn resulted in reduced investments in RFID technology by businesses, particularly in industries such as retail, manufacturing, and logistics, which are major consumers of RFID tags. The pandemic underscored the importance of RFID technology in enhancing supply chain visibility and inventory management, driving long-term adoption despite short-term setbacks.
The Correctional Tags segment is expected to be the largest during the forecast period
Correctional Tags segment is expected to be the largest during the forecast period by offering innovative solutions tailored to the needs of correctional facilities. These tags provide real-time tracking and monitoring of inmates, enabling authorities to ensure compliance with parole or house arrest conditions. By leveraging RFID technology, these tags offer precise location tracking, alerts for unauthorized movements, and integration with centralized monitoring systems. This enhancement in the RFID Tags Market not only improves security measures within correctional institutions but also optimizes resource allocation and reduces operational costs.
The Passive segment is expected to have the highest CAGR during the forecast period
Passive segment is expected to have the highest CAGR during the forecast period by providing cost-effective and efficient solutions for tracking and monitoring assets. Passive RFID tags do not require an internal power source, drawing energy from the reader's radio waves, which makes them smaller, lighter, and more affordable compared to active tags. This cost-effectiveness encourages widespread adoption across diverse applications such as inventory management, supply chain logistics, and asset tracking in industries ranging from retail to healthcare. Additionally, advancements in passive RFID technology have led to improved read ranges, data storage capacity, and durability, further fueling market expansion.
Region with largest share:
North America region commanded the largest share of the market throughout the extrapolated period. With the increasing demand for streamlined supply chain operations, improved inventory management, and enhanced security measures, businesses are increasingly adopting RFID tags to track and monitor their assets throughout the entire lifecycle across the region. In North America, stringent regulations, such as those in the healthcare and automotive sectors, are driving the adoption of RFID technology for compliance and security purposes. Moreover, the region's advanced infrastructure and widespread adoption of IoT (Internet of Things) technologies further facilitate the integration of RFID systems, contributing to the market's growth.
Region with highest CAGR:
Asia Pacific region is poised to hold profitable growth over the projection period as these regulations often focus on standardization, privacy protection, and security measures, ensuring that RFID technology is deployed ethically and efficiently. Standardization efforts streamline interoperability among different RFID systems, fostering seamless integration and widespread adoption across industries in the region. Additionally, regulations addressing privacy concerns regarding the collection and use of RFID data instill consumer trust and confidence in the technology. Moreover, stringent security regulations in the region safeguard against potential threats like data breaches and unauthorized access, promoting a secure environment for RFID deployment.
Key players in the market
Some of the key players in RFID Tags market include AMS AG, Alien Technology, Atmel Corp, Confidex Ltd, GAO RFID Inc, HID Global Corporation, Honeywell International, Invengo Information Technology Co. Ltd, NXP Semiconductors and Zebra Technologies Corp.
Key Developments:
In November 2023, Avery Dennison has delivered the AD Maxdura Flexible Laundry UHF Hard Tag, designed for the laundry management enterprise. This RFID tag withstands harsh situations, best for hotels, hospitals, and restaurants.
In March 2023, NXP Semiconductors has announced the new PN7642, a newly developed single chip solution combining its configurable MCU with an NFC reader and SESIP Level 2 security. This innovation aims to enhance NFC transactions, making them faster and more secure, and is suitable for various applications including physical access, consumables authentication, and secure identity verification.
In March 2022, Avery Dennison Corporation the provider of branding and information labeling solutions announced the acquisition of the linerless label technology created by Catchpoint Ltd. This technology is used to make sure that labels should not stick to one another for this it as the feature of the silicon release coating. This deal includes ownership on all Catchpoint's patents, brand, and trade secrets.
Product Types Covered:
• Correctional Tags
• Healthcare Tags
• Other Product Types
Tag Types Covered:
• Passive
• Semi-Passive
• Active
Frequency Bands Covered:
• Ultra High Frequency
• Microwave Frequency
• Low Frequency
• High Frequency
Materials Covered:
• Plastic
• Paper
• Glass
• Other Materials
Form Factors Covered:
• Cards
• Fobs
• Hard Tags
• Labels
• Other Form Factors
End Users Covered:
• Surveillance and Security
• Banking, Financial services, and Insurance (BFSI)
• Aerospace & Defense
• Agriculture
• Healthcare
• Transportation & Logistics
• Automotive
• Food & Beverages
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global RFID Tags Market, By Product Type
5.1 Introduction
5.2 Correctional Tags
5.3 Healthcare Tags
5.4 Other Product Types
6 Global RFID Tags Market, By Tag Type
6.1 Introduction
6.2 Passive
6.3 Semi-Passive
6.4 Active
7 Global RFID Tags Market, By Frequency Band
7.1 Introduction
7.2 Ultra High Frequency
7.3 Microwave Frequency
7.4 Low Frequency
7.5 High Frequency
8 Global RFID Tags Market, By Material
8.1 Introduction
8.2 Plastic
8.3 Paper
8.4 Glass
8.5 Other Materials
9 Global RFID Tags Market, By Form Factor
9.1 Introduction
9.2 Cards
9.3 Fobs
9.4 Hard Tags
9.5 Labels
9.6 Other Form Factors
10 Global RFID Tags Market, By End User
10.1 Introduction
10.2 Surveillance and Security
10.3 Banking, Financial services, and Insurance (BFSI)
10.4 Aerospace & Defense
10.5 Agriculture
10.6 Healthcare
10.7 Transportation & Logistics
10.8 Automotive
10.9 Food & Beverages
10.10 Other End Users
11 Global RFID Tags Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 AMS AG
13.2 Alien Technology
13.3 Atmel Corp
13.4 Confidex Ltd
13.5 GAO RFID Inc
13.6 HID Global Corporation
13.7 Honeywell International
13.8 Invengo Information Technology Co. Ltd
13.9 NXP Semiconductors
13.10 Zebra Technologies Corp
List of Tables
1 Global RFID Tags Market Outlook, By Region (2022-2030) ($MN)
2 Global RFID Tags Market Outlook, By Product Type (2022-2030) ($MN)
3 Global RFID Tags Market Outlook, By Correctional Tags (2022-2030) ($MN)
4 Global RFID Tags Market Outlook, By Healthcare Tags (2022-2030) ($MN)
5 Global RFID Tags Market Outlook, By Other Product Types (2022-2030) ($MN)
6 Global RFID Tags Market Outlook, By Tag Type (2022-2030) ($MN)
7 Global RFID Tags Market Outlook, By Passive (2022-2030) ($MN)
8 Global RFID Tags Market Outlook, By Semi-Passive (2022-2030) ($MN)
9 Global RFID Tags Market Outlook, By Active (2022-2030) ($MN)
10 Global RFID Tags Market Outlook, By Frequency Band (2022-2030) ($MN)
11 Global RFID Tags Market Outlook, By Ultra High Frequency (2022-2030) ($MN)
12 Global RFID Tags Market Outlook, By Microwave Frequency (2022-2030) ($MN)
13 Global RFID Tags Market Outlook, By Low Frequency (2022-2030) ($MN)
14 Global RFID Tags Market Outlook, By High Frequency (2022-2030) ($MN)
15 Global RFID Tags Market Outlook, By Material (2022-2030) ($MN)
16 Global RFID Tags Market Outlook, By Plastic (2022-2030) ($MN)
17 Global RFID Tags Market Outlook, By Paper (2022-2030) ($MN)
18 Global RFID Tags Market Outlook, By Glass (2022-2030) ($MN)
19 Global RFID Tags Market Outlook, By Other Materials (2022-2030) ($MN)
20 Global RFID Tags Market Outlook, By Form Factor (2022-2030) ($MN)
21 Global RFID Tags Market Outlook, By Cards (2022-2030) ($MN)
22 Global RFID Tags Market Outlook, By Fobs (2022-2030) ($MN)
23 Global RFID Tags Market Outlook, By Hard Tags (2022-2030) ($MN)
24 Global RFID Tags Market Outlook, By Labels (2022-2030) ($MN)
25 Global RFID Tags Market Outlook, By Other Form Factors (2022-2030) ($MN)
26 Global RFID Tags Market Outlook, By End User (2022-2030) ($MN)
27 Global RFID Tags Market Outlook, By Surveillance and Security (2022-2030) ($MN)
28 Global RFID Tags Market Outlook, By Banking, Financial services, and Insurance (BFSI) (2022-2030) ($MN)
29 Global RFID Tags Market Outlook, By Aerospace & Defense (2022-2030) ($MN)
30 Global RFID Tags Market Outlook, By Agriculture (2022-2030) ($MN)
31 Global RFID Tags Market Outlook, By Healthcare (2022-2030) ($MN)
32 Global RFID Tags Market Outlook, By Transportation & Logistics (2022-2030) ($MN)
33 Global RFID Tags Market Outlook, By Automotive (2022-2030) ($MN)
34 Global RFID Tags Market Outlook, By Food & Beverages (2022-2030) ($MN)
35 Global RFID Tags Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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