Press release
Radiofrequency Identification (RFID) Tags Market Set to Reach $17.83 Billion by 2029 with 10% Yearly Growth
Radiofrequency Identification RFID Tags Market Size
The burgeoning e-commerce and online retail sectors are predicted to spur the expansion of the RFID tags market in the projected period. E-commerce involves the sale and purchase of services and products over a computer network, typically the internet, including the transfer of payments and data. RFID technology provides e-commerce firms with a more comprehensive view of the supply chain, enabling them to locate the necessary resources to meet a customer's demand. For example, in August 2024, as reported by the United States Census Bureau, a U.S. government agency, U.S. online retail sales in the second quarter of 2024 amounted to approximately $282.3 billion, indicating a 5.3% increase from the first quarter of 2023. Consequently, the surging e-commerce and online retail sales fuel the expansion of the RFID tags market.
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How will the growth rate of the radiofrequency identification (rfid) tags market shape industry trends by 2034?
There has been significant growth in the market size for radiofrequency identification (RFID) tags in previous years. It is predicted to expand from a value of $11.4 billion in 2024 to $12.2 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.9%. The earlier growth trend is due to the uptick in the industrial sector, the surge in e-commerce activities, and increased spending on healthcare.
The RFID tags market is predicted to experience robust growth in the upcoming years, with an expected increase to $17.83 billion by 2029, exhibiting a CAGR of 10.0%. Factors contributing to this growth during the forecast period include the expanding adoption of IoT, an increase in the e-commerce sector, an upswing in healthcare expenses, industrial sector development, the rise of smart cities, and an acceleration in the use of RFID tags due to the COVID-19 pandemic across diverse sectors. Predicted trends during this period encompass strategic acquisitions aimed at breaking into new markets, enhancing market share, gaining access to innovative technologies, and potentially boosting revenue. Technological advancements and an emphasis on launching new products are also forecasted.
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What new trends are reshaping the radiofrequency identification (rfid) tags market and its opportunities?
RFID businesses are progressively introducing innovative technologies like IoT and Big Data, a trend that's becoming more prevalent in the market. The integration of IoT and RFID tags enables the connection of objects into a network, facilitating the generation and transmission of data. This also supports the live monitoring of tagged items and the establishment of a system that disseminates real-time information regarding their location, conditions, and quantities. For example, Omni-ID, an American firm involved in passive industrial RFID tags, launched a series of Bluetooth Low Energy (BLE) and Long Range (LoRa) enabled IoT devices in February 2023. These devices utilize a wide range of sensors capable of sending situational and status data via RFID tags to improve asset management and logistics procedures within a company.
Which primary segments of the radiofrequency identification (rfid) tags market are driving growth and industry transformations?
The radiofrequency identification (RFID) tags market covered in this report is segmented -
1) By Tag Type: Active RFID, Passive RFID
2) By Material: Plastic, Paper, Glass, Metal, Other Materials
3) By Frequency: Low Frequency, High Frequency, Ultra High Frequency
4) By Application: AIndustrial, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Government, Other Applications
Subsegments:
1) By Active RFID: Battery-Powered Active RFID Tags, Semi-Passive RFID Tags (Battery-Assisted Passive Tags), Real-Time Location System (RTLS) Tags
2) By Passive RFID: High-Frequency (HF) Passive RFID Tags, Low-Frequency (LF) Passive RFID Tags, Ultra-High Frequency (UHF) Passive RFID Tags, NFC (Near Field Communication) Tags, On-Metal Passive RFID Tags
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Which geographical regions are pioneering growth in the radiofrequency identification (rfid) tags market?
North America was the largest region in the radio-frequency identification (RFID) tags market in 2024. The regions covered in the radiofrequency identification (RFID) tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the radiofrequency identification (rfid) tags market landscape?
Major companies operating in the radiofrequency identification (RFID) tags market include Avery Dennison Corporation, Honeywell International Inc., NXP Semiconductors N.V., Identiv Inc., Zebra Technologies Corporation, HID Global, Invengo Information Technology Co Ltd, Nedap, Omni-ID, GAO RFID Inc., Essen RFID, Asset Online Pvt. Ltd, Raviraj Technologies, Greenfuturz, Chipsilicon, Copper Spiral RFID, CFI global, Zhejiang Laxcen Information Technology Co. Ltd, Shenzhen ZD Technology Co. Ltd, Chengdu Mind Golden Card System Co. Ltd, Guangzhou Qingsong Digital Technology Co. Ltd, Shenzhen Udohow Electronics Co. Ltd, Vantage Ear Tag RFID Technology Co. Ltd, SALTO Systems, Suprema, Alfi srl, Torchwood Technologies, Codegate Ltd, Pervasid, Alien Technology Corporation, AMS AG, Atmel Corp, CipherLab Co. Ltd., Confidex Ltd, Datalogic S.p.A., Impinj Inc., SMARTRAC N.V, Technology Solutions UK Ltd. (TSL), ThinkMagic (Trimble), Texas instruments, Roper Technologies Inc., Orbcomm Inc, Gaming Partners International Corporation, Marnlen, Bastian Solutions, SATO America, InLogic IT Solution, DominateRFID, Datametric Technologies LLC, Amricon, Acube Infotech LLC, ScreenCheck, OGTech, EAM RFID Solutions, Askaris, Absolute Integrated Electronic Solutions (AIES), Aitech Systems Ltd, Al Smari Trading, Attraf company, BUCHI Labortechnik AG
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What Is Covered In The Radiofrequency Identification (RFID) Tags Global Market Report?
• Market Size Forecast: Examine the radiofrequency identification (rfid) tags market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the radiofrequency identification (rfid) tags market for a structured understanding.
• Key Players Overview: Analyze major players in the radiofrequency identification (rfid) tags market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the radiofrequency identification (rfid) tags market.
• Segment Contributions: Evaluate how different segments drive overall growth in the radiofrequency identification (rfid) tags market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the radiofrequency identification (rfid) tags market.
• Industry Challenges: Identify potential risks and obstacles affecting the radiofrequency identification (rfid) tags market.
• Competitive Landscape: Review strategic developments in the radiofrequency identification (rfid) tags market, including expansions, agreements, and new product launches.
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