Press release
RFID Tags and Labels Market New Business Opportunities By 2027
RFID technology employs electromagnetic field mechanism to identify and track the objects onto which RFID tags and labels are affixed. RFID tags and labels are primarily classified as active and passive tags, depending on their operation and functionality.
Active tags have inbuilt power source that allows storage and transmission of information to the RFID reader located hundreds of meters away. Passive RFID tags and labels on the other hand use power from radio waves of nearby RFID reader. RFID tags and labels have emerged as an effective and high end alternative to barcodes as mode of identifying, tracking and tracing objects.
Global RFID Tags and Labels Market: Segmentation
The global RFID tags and labels market is segmented by product type, by application and by sales channel.
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The global market for RFID tags and labels is characterized by continuous product development and innovation processes that aims to improve functionality and effectiveness of RFID tags and labels. The RFID labels market segment has emerged as the most attractive market segment in the RFID labels and tag market.
The RFID labels market segment is further sub-segmented into paper labels, plastic labels and hybrid labels that are a combination of paper and plastic inlays.
Product development activities of leading market players and new entrants in the market are focused toward reducing the cost of these RFID labels by modifying inherent design and material composition of RFID labels. RFID labels are made of 100% recycled paper have observed to deliver cost savings to manufacturers while also supporting the sustainability objectives of the business.
In November 2017, Honeywell International Inc., announced the launch of passive RFID tags for the automotive sector. The passive RFID tags from Honeywell International Inc. are used for applications such as highway tolling, electronic vehicle registration, and vehicle access and payment.
The RFID tags have the capability to be read from a distance of 10 meters even at high speeds. Honeywell International Inc. has introduced the passive RFID tags to tackle issues such as counterfeiting, spoofing or exposure of customer data to unauthorized users.
Manufacturers of RFID tags and labels sell their products through three primary sales channel including institutional, business to business and retail. RFID tags, due to their flexibility in application have recognized usage across multiple sectors.
Institutional sales channel has emerged as key sales channel as RFID tags and labels are increasingly being recognized as important mechanism to identify and track objects in Defence sectors, aerospace and government owned inventories across economic sectors.
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Global RFID Tags and Labels Market: Regional Outlook
The global RFID Tags and Labels market is segmented into 7 key regions including North America, Latin America, Eastern Europe, Western Europe, Middle East and Africa (MEA), Asia Pacific Excluding Japan (APEJ) and Japan.
Global Magnifier labels Market: Competitive Landscape
Some of the players operating in the global RFID Tags and Labels market include Honeywell International Inc., Syndicate RFID, Vizinex RFID, Tageos SAS, Omnia Technologies, and Tag Factory.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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