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RFID Tags Market

Global Market Study on RFID Tags: Call for Precise Management and Quality Control to drive the market

RFID Tags Market by Working Type (Active RFID Tags and Passive RFID Tags)

RFID Tags Market Outlook (2023 to 2033)

The Market for RFID Tags was valued at US$ 12,345.2 Million in 2022, and it is anticipated to have grown to US$ 31,803.3 Million by the end of 2033. The market for RFID tags is estimated to evaluate to US$ 13,271.1 Million in 2023 and is estimate to grow at a CAGR of 9.1% from 2023 to 2033.

The RFID (Radio Frequency Identification) tags market is a rapidly growing industry that is driven by the increasing demand for automated data collection, tracking, and inventory management in various industries such as retail, healthcare, transportation, logistics, and manufacturing. The RFID tags consisted 20% of the global RFID market.

RFID tags are tiny electronic gadgets with a microchip and an antenna that are used for wireless object or person identification and tracking. RFID technology enhances the visibility and efficiency of the supply chain while enabling real-time tracking and surveillance of assets.

RFID tag can be used to identify items, animals, and humans by being attached to them. It operates by transmitting data via radio waves between the tag and a scanner, who then sends it to a computer system for processing.

RFID tags come in a variety of shapes and sizes, and can be either passive or active. Passive tags do not have their own power source, and rely on the energy from the reader to power them up and transmit information. Active tags, on the other hand, have their own power source and can transmit information over longer distances.

The RFID tags market in North America held 25.9% which is the uppermost market share in the worldwide landscape in 2022 and is projected to retain its position within the forecast period. The demand for RFID tags in the Europe region it held around 20.5% of the market in 2022.

RFID Tags Market Size (2023)

US$ 12,345.2 Million

Projected Market Value (2033)

US$ 31,803.3 Million

Global Market Growth Rate (2023 to 2033)

9.1%

Active RFID Tags Market Share (2022)

36.3%

India Market Growth Rate (2023 to 2033)

12.6%

Retail & Consumer Goods Market CAGR (2022)

12.6%

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What Drivers Will Act as for the Growth of RFID Tags Market?

“The Increasing adoption of IoT devices will boost the RFID Tags market”

The increasing adoption of IoT (Internet of Things) devices is expected to boost the RFID (Radio Frequency Identification) tags market. IoT devices are connected to the internet and can collect and exchange data with other devices, allowing for seamless communication and automation of processes.

RFID technology is a crucial component of IoT, enabling the identification and tracking of objects and assets in real-time. As IoT devices become more widely adopted in various industries such as healthcare, retail, transportation, and logistics, the demand for RFID tags is expected to increase.

RFID technology provides accurate and real-time information about the location and status of assets, enabling businesses to improve operational efficiency, reduce costs, and enhance the overall customer experience.

  • In March 2023, Smart Spaces has collaborated with HID to add an employee documentation to Apple Wallet and providing a safest and easiest way for workforce to enter buildings. Employees and staff in the building can now easily and securely enter offices with a tap of their iPhone or Apple Watch by adding their employee badge to Apple Wallet.
  • In November 2022, Impinj, Inc. has announced the new Impinj M780 and M781 RAIN RFID tag chips, Impinj M700 series' first expanded memory chips. These brand-new tag chips are intended to support businesses that control product shelf life, cut waste, and adhere to rules in the medical, food, and industrial manufacturing sectors.
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Why is Demand for RFID Tags Increasing across United States of America?

“The Increased adoption in retail in United States of America will boost the Demand for RFID Tags market in United States of America”

The increased adoption of RFID technology in the retail industry in the United States of America is likely to boost the demand for RFID tags in the market. Retailers have been using RFID tags to improve inventory accuracy, reduce out-of-stocks, and increase operational efficiency.

As more retailers adopt the technology and expand its use to other areas such as supply chain management and customer experience, the demand for RFID tags is expected to increase.

In addition, the retail industry is a large and influential market segment that can drive the adoption of RFID technology across other industries. As retailers benefit from the advantages of RFID technology, other industries may take notice and begin implementing the technology as well, leading to further growth in the demand for RFID tags in the United States of America market.

The United States of America had the maximum market share in RFID tags of 16.4% for the year 2022.

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What Factors Allow India to Be a Major Market for Managed Security Services?

“The Increasing regulations in India Will Boost the RFID Tags Market”

India's increasing regulations are likely to boost the RFID tags market in the country. The Indian government has been implementing several regulations and initiatives in recent years to promote the use of RFID technology in various sectors.

For example, in 2020, the Indian government announced the National RFID Program, which aims to provide a unique identification number to every livestock and fish in the country using RFID tags. This program is expected to help improve the management and monitoring of livestock and fish, as well as prevent diseases and enhance food safety.

In addition, the Indian government has also mandated the use of RFID tags in toll plazas across the country to improve traffic management and reduce congestion.

This initiative has been successful in reducing travel time and increasing the efficiency of toll collection. The increasing adoption of RFID technology by various industries, the RFID tags market in India is expected to grow significantly in the coming years.

The Indian market will grow with CAGR of 12.6% over the forecasted period.

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What Factors Are Allowing RFID Tags to Grow in France?

“The French Industry Has Adopted RFID tags in various sectors Will Boost the RFID Tags Market”

The adoption of RFID tags by various industries in France is expected to boost the RFID tags market in the country. The French industry has been quick to recognize the benefits of RFID technology in improving operations, enhancing efficiency, and reducing costs.

The retail industry in France has adopted RFID tags for inventory management, which helps in maintaining an accurate count of the items in stock and reduces the need for manual inventory checks. The logistics industry is using RFID tags for tracking shipments, which provides real-time visibility into the movement of goods and reduces the risk of loss or theft.

The healthcare industry in France is also using RFID tags for tracking medical equipment and supplies, which helps in managing inventory and ensuring that critical equipment is available when needed.

The adoption of RFID technology by various industries in France is expected to drive the growth of the RFID tags market in the country. With the increasing adoption of RFID technology and the development of new applications, the RFID tags market in France is expected to continue to grow in the coming years.

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What Are Different Factors Allow Active RFID Tags to Hold the Dominant Share in the RFID Tags Market?

“Longer Read Range and Real Time Tracking of Active RFID Tags Will Drive the Demand for RFID Tags Market”

Longer read range and real-time tracking capabilities are two of the key advantages of active RFID tags, and these features are driving demand for RFID tags in a variety of industries.

The longer read range of active RFID tags allows for tracking of assets over large areas, such as in warehouses, distribution centres, and outdoor environments. This makes them ideal for applications where passive RFID tags may not have sufficient range, such as tracking shipping containers or monitoring inventory in a large retail store.

Real-time tracking is another key advantage of active RFID tags. With real-time tracking, users can monitor the location and status of assets in real-time, which is critical for industries such as logistics, transportation, and healthcare. Real-time tracking allows companies to optimize their supply chain operations, reduce inventory shrinkage, and improve asset utilization.

Overall, the demand for RFID tags is expected to continue to grow as more industries adopt RFID technology to improve their operations and gain better visibility into their supply chains.

The Active RFID Tags had the uppermost market share of 57.7% in 2022.

What Factors are influencing the Demand for Retail & Consumer Goods in RFID Tags market?

“Inventory Management in Retail and Goods sector that Will Boost the RFID Tags Market”

Inventory management is one of the key applications of RFID technology in the retail and consumer goods sector, and it is expected to drive demand for RFID tags in this market.

RFID tags can improve inventory management by providing real-time visibility into inventory levels and item locations. With RFID tags, retailers can track inventory levels in real-time, which helps them avoid stock outs and overstocking. This can lead to improved sales and profitability, as well as a better customer experience.

RFID tags can also improve the accuracy of inventory data, which is important for retailers who need to quickly locate items for customers and accurately track their inventory levels. By providing accurate inventory data in real-time, retailers can reduce the time and cost associated with manual inventory management processes.

Overall, the demand for RFID tags in the retail and consumer goods sector is expected to continue to grow as retailers seek to improve their inventory management, optimize their supply chain operations, and enhance the customer experience.

The Retail and goods sector will boost in the market with CAGR of 13.5% over the forecast period.

Competitive Landscape

The companies in RFID Tags are diversifying its product offering and improve its market position, the businesses focus on launching new products, upgrading existing products, and strategically expanding into new marketplaces.

  • In July 2022, The Zebra Technologies Corporation has announced that BE Switch craft has adopted Zebra’s radio frequency identification (RFID) solution to obtain real-time insight into its financial data and manufacturing process to help it better meet the expectations of its customers.
  • In August 2021, HID Global has announced that it has acquired Omni-ID, a top producer of RFID tags and industrial internet of things hardware components for uses such as passive and active tagging, tracking, monitoring. The acquisition strengthens HID's position in China and India and extends its market dominance in RFID technology.

Recent developments related to key players providing RFID tags market solutions have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

RFID Tags Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia & New Zealand
  • GCC Countries
  • Turkey
  • Israel
  • Northern Africa
  • South Africa

Key Market Segments Covered

  • Working Type
  • Frequency Band
  • Application
  • Region

Key Companies Profiled

Pricing

Available upon Request

Key Segments of RFID Tags Market Industry Research

By Working Type:

  • Active RFID Tags
  • Passive RFID Tags

By Frequency Band:

  • Low Frequency
  • High Frequency
  • Ultra High Frequency
  • Microwave Frequency

By Application:

  • Logistic & Transportation
  • Retail & Consumer Goods
  • Automotive
  • Government
  • Healthcare & Medical
  • Agriculture, Farming & Livestock
  • Aerospace & Defence
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Zebra Technologies Corp
  • Omni-Id, Inc.
  • GAO RFID Inc.
  • Impinj, Inc.
  • Alien Technology
  • Confidex Ltd
  • Honeywell International
  • Invengo Information Technology Co. Ltd.
  • NXP Semiconductors
  • HID Global Corporation
  • SMARTRAC N.V

- Frequently Asked Questions -

In 2022, the market value RFID tags were US$ 12,345.2 Mn.

The global RFID tags market is estimated to advance at 9.1% CAGR through the forecast period 2023-2033.

The market for RFID tags is forecasted to climb to US$ 31,803.3 Mn by 2033 end.

Demand for RFID tags market in India is projected to rise at a CAGR of 12.6% over the forecast period.

In 2022, the North America RFID tags market held a dominant market share of 26.5%.

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