Press release
RFID Tags Market Set to Surpass $17.83 Billion by 2029: Key Trends, Key Players, and Factors Driving Growth
Radiofrequency Identification (RFID) Tags Market Size
What Is The Projected Market Size Of The Global Radiofrequency Identification (RFID) Tags Market And Its Growth Rate?
The Radiofrequency Identification (RFID) Tags Market has seen remarkable growth:
• 2024 market size: $11.4 billion
• 2025 market size: $12.2 billion (6.9% CAGR)
• 2029 Projected market size: $17.83 billion (10.0% CAGR)
The rise in the industrial sector, e-commerce industry, healthcare expenditure, and the adoption of Internet of Things (IoT) drive this growth.
What Is Driving The Growth In The Radiofrequency Identification (RFID) Tags Market?
Growth in the RFID tags market is primarily driven by the surge in e-commerce and online retail sales. These sectors rely heavily on RFID technology for supply chain management, enabling them to efficiently fulfill customer requests. For instance, the U.S. retail e-commerce sales for Q2 of 2024 reached an estimated $282.3 billion, marking a 5.3% increase compared to Q1 of 2023.
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Who Are the Key Players Driving Radiofrequency Identification (RFID) Tags Market Growth?
• Avery Dennison Corporation
• Honeywell International Inc.
• NXP Semiconductors N.V.
• Identiv Inc.
• Zebra Technologies Corporation
• HID Global
• Additional key players include Invengo Information Technology Co Ltd, Nedap, Omni-ID, GAO RFID Inc., and Essen RFID among others.
What Are The Key Trends In The Radiofrequency Identification (RFID) Tags Market?
• Increasing strategic acquisitions to expand into new markets
• Technological advancements
• A focus on new product launches
What Are The Segments Of The Global Radiofrequency Identification (RFID) Tags Market?
• By Tag Type: Active RFID, Passive RFID
• By Material: Plastic, Paper, Glass, Metal, Other Materials
• By Frequency: Low Frequency, High Frequency, Ultra High Frequency
• By Application: Industrial, Retail And Wholesale, Healthcare, BFSI, Transportation, and Logistics, Government, Other Applications
Which Region Leads The Radiofrequency Identification (RFID) Tags Market?
North America was the largest region in the RFID Tags market in 2024. However, the market spans across various regions, including Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Radiofrequency Identification (RFID) Tags Market Global Market Report?
- Market Size Analysis: Analyze the Radiofrequency Identification (RFID) Tags Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Radiofrequency Identification (RFID) Tags Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Radiofrequency Identification (RFID) Tags Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Radiofrequency Identification (RFID) Tags Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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