RFID Tags Market: Introduction
The global RFID tags market is anticipated to reach a value of US$ 29.4 Bn by 2030. The RFID tags market is projected to expand at a CAGR of ~10% from 2020 to 2030 in terms of revenue. The growth of the RFID tags market is due to increasing number of supply chain and retail companies, which, in turn, has triggered growth of the market globally. Over the forecast period, North America is anticipated to emerge as the leading RFID tags market, followed by Europe and Asia Pacific.
RFID Tags: Market Segmentation
The global RFID tags market has been segmented in terms of type, form factor, application, and region. Based on type, the market has been classified into active RFID tags and passive RFID tags. In terms of form factor, the label segment dominated the global RFID tags market in 2019. Based on application, the market has been divided into retail & wholesale, agriculture, healthcare/ medical, BFSI, transportation & logistics, education, and others (automotive and food & beverages).
RFID Tags Market: Regional Outlook
In terms of region, the global RFID tags market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the RFID tags market during the forecast period. The U.S. is estimated to hold a notable share of the RFID tags market in North America and the market in the country is projected to expand at a CAGR of 7.1% during the forecast period.
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The changing industry scenario, along with recent upsurge in cost and services of products have resulted in higher demand for RFID systems, especially tags. Asia Pacific held a substantial share of the global RFID tags market in 2019 with China, India, and Japan being the major markets in the region. The RFID tags market in Europe, Middle East & Africa, and South America is also projected to expand moderately during the forecast period.
The report provides in-depth segment analysis of the global RFID tags market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the RFID tags market.
RFID Tags Market: Competition Dynamics
The research study includes profiles of leading companies operating in the global RFID tags market. Key players profiled in the report include Alien Technology, Atmel Corp, Avery Dennison Corporation, Checkpoint Systems, Confidex Ltd., FUJITSU, GAO RFID, HID Global Corporation, Honeywell Corporation, Impinj Inc., Invengo Information Technology Co., Ltd., Keonn Technologies, S.L., Laird, MoreRfid., MTI Wireless Edge, NXP Semiconductors N.V., Omni- ID Ltd., RF Code, Vizinex RFID, and Zebra Technologies Corp.