RFID (Radio-Frequency Identification Tags) Market is expected to Double Its Size by Upcoming Years

According to new research study on "RFID (Radio-Frequency Identification Tags) Market," the report delivers comprehensive insights into the market's size, share, trends, and analysis. It encompasses a wealth of information regarding the industry's overview, growth patterns, demand dynamics, and global forecasts. Additionally, the report meticulously evaluates the competitive landscape, offering detailed profiles of key market players. Factors driving growth, market constraints, and recent industry developments are thoroughly examined within the report to provide a more profound understanding of the industry.
Advantage of requesting Sample PDF Report Before purchase to know about:
• Segmenting breakdown data by regions, types, manufacturers, and applications.
• Analysing and evaluating the current and future global status of market, encompassing production, revenue, usage, historical data, and forecasts.
• Identifying significant trends, drivers, and influencing factors on a global and regional scale.
• Presenting key manufacturers, their production, revenue, market share, and recent developments.
• Examining competitive advancements such as expansions, agreements, new product launches, and acquisitions in the market.
• Exploring the market potential and advantages in both global and key regional areas, assessing opportunities, challenges, limitations, and risks.

RFID Tags Market is valued at approximately USD 14.50 billion in 2022 and is anticipated to grow with a CAGR of more than 11.90% over the forecast period 2023-2030. RFID (Radio-Frequency Identification) tags, also known as RFID transponders or RFID chips are small electronic devices that use radio waves to transmit and receive data wirelessly. They consist of a microchip and an antenna, encapsulated in various form factors such as cards, stickers, labels, or embedded directly into objects.

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The microchip within an RFID tag contains unique identification information and often additional data, such as product details or sensor readings. The antenna is responsible for transmitting and receiving radio signals to communicate with RFID readers or scanners. Additionally, the rapidly growing e-commerce market and increasing integration of IoT technology are anticipated to be the growth drivers of this market. Furthermore, increasing adaptation of RFID in various industries and growing advanced technology in RFID tags emerged as growth opportunities in the market.

According to India Brand Equity Foundation (IBEF) in 2023. With the overall e-commerce market projected to soar to USD 350 billion by 2030, the demand for RFID tags is set to play a crucial role in this expansion. Moreover, in 2022 alone, the e-commerce industry is anticipated to witness a substantial growth rate of 21.5%, propelling its value to USD 74.8 billion. As the e-commerce sector continues to thrive, the utilization of RFID tags is expected to surge, supporting the industry's operational efficiency and supply chain management. According to Statista in 2022, the global count of Internet of Things (IoT) devices is expected to nearly triple from 9.7 billion in 2020 to over 29 billion by 2030.

Similarly, from the same source China is expected to have the largest number of IoT devices, with approximately 5 billion consumer devices by 2030. IoT devices are utilized across various industry sectors and consumer markets, with the consumer segment representing around 60 percent of all connected IoT devices in 2020. This proportion is expected to remain consistent over the next decade. However, data security & privacy concerns and a limited read range of RFID Tags may hamper the growth of the market during the forecasted period of 2023-2030.

The key regions considered for the Global RFID Tags Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America, has secured a significant share in the RFID market within the region during the forecast period from 2022 to 2030. The region holds a prominent position in the RFID market due to the presence of key players such as Apple Inc. and Intel Corporation, which have made substantial investments in developing next-generation portable devices solutions and advancing digital display devices. Asia Pacific region is the fastest growing region in the RFID Tags market. Asia Pacific region is experiencing notable advancements in the healthcare, retail, and manufacturing sectors, accompanied by the adoption of emerging technologies. Countries such as Japan, South Korea, China, India, Australia & New Zealand (ANZ), and ASEAN countries are displaying a keen interest in RFID technology due to its affordability and long-term benefits.

Major market player included in this report are:
NXP Semiconductors N.V.
CAEN RFID Srl
GAO RFID Inc.
Invengo Information Technology Co. Ltd.
Infotek Software and Systems Private Limited
Bartronics India Ltd.
Bartech Data Systems Private Limited
Bar Code India Limited
Securitag Assembly Group Co Ltd
Linxens India Private Limited

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Recent Developments in the Market:
In March 2022, Avery Dennison Corporation revealed its acquisition of the linerless label technology created by Catchpoint Ltd, a Yorkshire-based company in England. This acquisition encompasses Catchpoint's patents, brand, trade secrets, and extensive knowledge. As per the agreement, Avery Dennison may uphold Catchpoint's existing commercial agreements.
In June 2021, Impinj, Inc. introduced three next-gen RAIN RFID reader chips, namely Impinj E710, E510, and E310. This high-performance, low-power chips enable IoT device makers to meet the increasing demand for item connectivity in sectors such as retail, supply chain, and consumer electronics. With industry-leading integration and easy-to-use development tools, these chips facilitate the development of reliable IoT devices that identify, locate, and authenticate connected items.

Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Offering, Wafer Size, Tag Type, Frequency, Form Factor, Material, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Offering:
Tags
Reader
Software & Services

By Wafer Size:
8 Inch
12 Inch
Others

By Tag Type:
Passive
Active

By Frequency:
Low Frequency
High Frequency
Ultra-High Frequency

By Form Factor:
Card
Implant
Key Fob
Label
Paper Ticket
Band
Others

By Material:
Plastic
Paper
Glass
Others

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By Application:
Agriculture
Commercial
Transportation
Healthcare
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Report Components
Market Overview: This section encapsulates the current market scenario and the industry's scope. A comprehensive segmental analysis is detailed, covering major segments such as product types, applications, and regions. Revenue and sales forecasts are also a part of this overview.
Competitive Landscape: Shedding light on the market's competitive landscape, this segment delivers a detailed manufacturer analysis, providing insights into individual players' revenue and sales figures. Additionally, it encompasses significant mergers, acquisitions, and industry investments.
Regional Analysis: Offering an overview of market revenue, sales, and shares across major regions and sub-regions, this section also delves into the pricing structure, sales growth rate, and other essential estimations.
Company Profiles: This section furnishes strategic business data about key firms operating within the Market landscape. It encompasses product specifications, revenue shares, and portfolios of these major companies.
Research Methodology: The research methodology involves the collection, filtration, and analysis of data by expert analysts. The research process also includes interviews with the right stakeholders, making primary research both relevant and practical. The secondary research casts a brief look into the supply chain analysis. The primary and secondary research techniques used in the report ensure a thorough analysis of the market.
Key Questions Market Research and Analysis Report
What is the current market size, both in terms of value and volume?
What is the historical growth rate of the market, and what are the projected growth rates for the future?
Who are the major players in the market, and what is their market share?
What are the market trends and dynamics influencing the industry?
What are the key drivers of market growth?
What are the challenges and barriers faced by market participants?
What are the emerging opportunities in the market?
What is the competitive landscape of the market?
What are the consumer preferences, behaviours, and buying patterns within the market?
What is the market segmentation, and how are different market segments performing?
What are the pricing trends and strategies in the market?
What are the distribution channels and their effectiveness in reaching the target audience?
What are the regulatory and legal factors impacting the market?

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