RFID tags or transponders are devices used in identifying assets. The tags contain information which is transmitted over radio waves to a database for cross-checking. The tags are deployed on assets for tracking and inventory management purposes. The global RFID tags market report by Market Research Future (MRFR) contains drivers, challenges, opportunities, and trends for the period of 2017 to 2023 (forecast period). The impact of the COVID-19 pandemic on the industry is analyzed and is included in the report.
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The global RFID tags market is estimated to grow at a CAGR of 7.6% during the estimated period. The use of these tags for monitoring and tracking of assets can drive the market growth. The expansion of the logistics industry and safe transport of goods and commodities can support the trend. Establishment of warehouses and presence of logistic delivery providers are likely to facilitate market growth.
The use of advanced technology for management of livestock and their transport can drive the demand for RFID tags. Livestock farming among farmers and the unmet demands of protein among health enthusiasts and gym rats can drive the market demand exponentially.
THE global RFID tags market has been segmented based on types and end-user.
Based on the type, the global RFID tags market has been segmented into passive, active, and semi-passive. Passive tags had the highest market share in 2016. Passive tags do not have an internal power source. They, therefore, depend on the power induced by the reader. Due to the lack of a battery, these tags are cost-effective, robust, and smaller than others. Passive tags are used to perform a variety of tasks, such as access control, inventory management, supply chain management, and tool monitoring. The popularity of passive RFID tags is, therefore, growing among end-users. It is expected to display the fastest growth in the forecast period. The active tag has an on-board battery and transmits its ID signal periodically. Batteries make the cost, size, and lifespan of active tags unworkable for retail trade. These tags are used to track containers and pallets, as well as large military assets. These tags are also used to track ocean containers and land, vehicles, logistics, and other high and wide value assets. The semi-passive tag has a small battery on board and is activated in the presence of an RFID reader.
Based on the end-user, the market has been segmented into healthcare, retail, automotive, logistics and transportation, and others. The logistics and transportation sector dominate the end-user segment of the market. RFID-based technologies are widely applied to improve transportation security and safety. The use of RFID tags in the healthcare sector is increasingly growing. This technology helps in patient tracking, asset management, parking, and medication authentication and control. In addition, growing concerns regarding counterfeit drugs and safety, a growing need to minimize operating costs in healthcare, and an increase in the incidence of cases of theft of medical devices are opening up the demand for RFID tags in the healthcare sector.
Based on the regions, the global RFID tags market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
North America dominates the market for global RFID tags. Growing government initiatives to adopt RFID tags is a crucial driver of market growth in the region. In addition, high growth in the retail sector in the North American area is also a driving factor for the development of the industry. In addition, major RFID tag manufacturers such as Alien Technology and HID Global Corporation, among others, are present in the North American area. This also has a positive impact on the growth of the market. The United States accounted for the largest market share of the North American region.
The Asia Pacific region is expected to rise at the highest CAGR in the forecast period. The phenomenal growth of the packaging sector in the Asia Pacific region is a critical factor in the industry’s growth. Growing industrial expansion and increasing urbanization of the population in developing countries will further boost the market. China, Indonesia, Japan, India, and Thailand are the main contributors to the Asia Pacific industry. China accounts for the country’s largest share, mainly due to rapid growth in urbanization and industrial development.
The Middle East & Africa is another big market in terms of demand for RFID tags and is expected to contribute to market development during the forecast period.
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The prominent players in the RFID tags market include Alien Technology (U.S.), Confidex Ltd (Finland), HID Global Corporation (U.S.), Honeywell International Inc. (U.S.), Omni-ID Ltd (U.S.), Impinj, Inc. (U.S.), Invengo Information Technology Co. Ltd (China), Smartrac N.V. (Netherlands), The Tag Factory (India), Atmel Corporation (U.S.), NXP Semiconductors N.V. (Netherlands), RF Code Inc. (U.S.), GAO RFID Inc. (Canada), CoreRFID Ltd (U.K.) and Tageos (France).
Table Of Contents
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.2 Research Objective
2.3 Research Type
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Threat Of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power Of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
5 Global RFID Tags Market, By Type
5.2 Passive Tags
5.2.1 Market Estimates & Forecast, 2020-2027
5.2.2 Market Estimates & Forecast By Region, 2020-2027
5.3 Active Tags
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast By Region, 2020-2027
5.3 Semi-Passive Tags
5.3.1 Market Estimates & Forecast, 2020-2027
5.3.2 Market Estimates & Forecast By Region, 2020-2027……….
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