RFID Tags Market Is Touching New Level – A Comprehensive Study with Key Players 2025| Alien Technology,Atmel Corp,Avery Dennison Corporation,Checkpoint Systems,Confidex Ltd
Some of the key players operating in this market include: Alien Technology,Atmel Corp,Avery Dennison Corporation,Checkpoint Systems,Confidex Ltd.,GAO RFID,HID Global Corporation,Impinj Inc.,Invengo Information Technology Co., Ltd.,Keonn Technologies,S.L.,Laird,MoreRfid.
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Advancements in RFID Technology to Aid Market Growth
Radiofrequency identification (RFID) tags have garnered immense popularity over the past few decades, owing to numerous factors, including flexibility, low power requirement, and location assistance. RFID tags are extensively used across a host of industrial sectors, such as oil & gas, construction, e-Commerce, retail, port management, etc. Advancements in technology have led to the development of cutting-edge RFID tags with wide coverage and long-range capabilities. In addition, numerous other innovations have directly influenced the demand for IC-based and surface acoustic wave (SAW) RFID tags in a positive way.
RFID Tags Market: Overview
The global RFID tags market is expected to register a CAGR of ~10% between 2020 and 2030
• Rising use of RFID in manufacturing units for productivity enhancement; growing government initiatives across the world, increasing usage of security & access control applications during the COVID- 19 outbreak, and high adoption of RFID technology in the retail industry are some of the factors expected to trigger the growth of the RFID tags market in the near future
• The global RFID tags market is projected to reach US$ 29.4 Bn by 2030 from US$ 11.5 Bn in 2020
• North America holds a major share of the RFID tags market in terms of revenue, and is anticipated to dominate the market during the forecast period, followed by Europe and Asia Pacific
• North America remains the leading region in the RFID tags market, with revenues in 2020 estimated at US$ 4.5 Bn
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North America RFID Tags: Market Snapshot
North America is a developed region and hence, innovation and new technologies are expected to be trends witnessed in the region over the next few years. North America held a prominent share of the global RFID tags market in 2019. For the same reason, North America is expected to witness highest opportunity addition in the market globally, with Europe and Asia Pacific being the next closest regions.
Key Growth Drivers of RFID Tags Market
Growing Interest of the Retail Sector in RFID Technology
Increasing interest of the retail sector in the RFID technology is primarily due to enterprises’ desire to achieve greater visibility and speed in their supply chains, and want to increase both store effectiveness and operational efficiency. RFID in retail can be used to prevent theft and track items that are frequently moved and often misplaced. The RFID technology allows retailers to track their inventory throughout the retail supply chain, from warehouse shelves all the way to the sales floor. An effective supply chain operation ensures that goods are delivered on time and to the place where customers are able to buy them. Potential gains from the usage of RFID tags include reduced labor costs, increased sales, and lower inventory levels.
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