RFID Tags Market (By Type: Active RFID Tags, Passive RFID Tags; By Form Factor: Labels, Cards, Fobs, Hard Tags, Others; By Application: Retail & Wholesale, Agriculture, Healthcare/Medical, BFSI, Transportation & Logistics, Education, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2021-2030

The global RFID tags market size is expected to hit around US$ 29.5 billion by 2030 and is anticipated to grow at a CAGR of 10.2% from 2021 to 2030.

The market growth can be primarily attributed to a host of factors, including widening applications of RFID tags in different industrial domains, booming e-Commerce and retail sectors in both, the developed as well as developing regions, advancements in technology, and ongoing efforts made by engineers and scientists to improve the accuracy of RFID tags.

Radio-Frequency Identification (RFID) is a technology used for automated identification of people, objects, animals, and materials. RFID tags, also known as RFID transponders, are small radio frequency identification devices used for tracking and identification purposes. RFID tags are typically built of Integrated Circuit (IC), consisting of a thin film, an antenna, and a memory. The memory of RFID tags stores the product's electronic product code (EPC), and other information that can be tracked and read by RFID readers.

RFID tags are categorized on the basis of source of power: active RFID and passive RFID. Active RFID makes use of battery power to transmit signals to readers. Passive tags do not have an inbuilt power source and function on power from an RFID reader.

Furthermore, RFIDs have the potential to save time and money for organizations by providing real-time traceability, identification, communication, temperature, and location data for people and resources.

Key Growth Drivers

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.

Automated Toll Booth Payment Utilizing RFID

The economic condition of a country primarily depends on the efficiency of its transportation system. Efficient transport systems offer a wide range of social and economic benefits such as increasing employment, better accessibility to markets, and additional investments, thus making it important for the transportation industry to adapt rapidly to technological advancements. Automatic toll collection utilizing RFID is a technology that allows automated electronic collection of toll costs. This acts as a major driver for the RFID tags market.

RFID technology has increased the productivity of automated toll booth payment services. Commuters can now drive their vehicle straight through the toll booth without lining up for financial transactions and paying toll in booth manually. This is made possible by utilizing RFID tags that are located inside the vehicle, and receivers located in the toll booth. The toll is automatically deducted from the commuter’s account when the vehicle drives through. Thus, increasing usage of RFID tags in vehicles for automatic toll collection is anticipated to propel the expansion of the market in the near future.

Regional Outlook

North America is anticipated to dominate the RFID tags market during the forecast period. The U.S. is estimated to hold a notable share of the RFID tags market in North America and the market in the country is projected to expand at a CAGR of 7.3% during the forecast period. The changing industry scenario, along with recent upsurge in cost and services of products have resulted in higher demand for RFID systems, especially tags. 

Asia Pacific held a substantial share of the global RFID tags market in 2020 with China, India, and Japan being the major markets in the region. The RFID tags market in Europe, Middle East & Africa, and South America is also projected to expand moderately during the forecast period.  

The report provides in-depth segment analysis of the global RFID tags market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the RFID tags market.

Key Players

Key players profiled in the report include Alien Technology, Atmel Corp, Avery Dennison Corporation, Checkpoint Systems, Confidex Ltd., FUJITSU, GAO RFID, HID Global Corporation, Honeywell Corporation, Impinj Inc., Invengo Information Technology Co., Ltd., Keonn Technologies, S.L., Laird, MoreRfid., MTI Wireless Edge, NXP Semiconductors N.V., Omni- ID Ltd., RF Code, Vizinex RFID, and Zebra Technologies Corp.

Global RFID Tags Market: Segmentation

RFID Tags Market, by Type

• Active RFID Tags
• Passive RFID Tags

RFID Tags Market, by Form Factor  

• Labels
• Cards
• Fobs
• Hard Tags
• Others

RFID Tags Market, by Application

• Retail & Wholesale
• Agriculture
• Healthcare/Medical
• BFSI
• Transportation & Logistics
• Education
• Others (Automotive and Food & Beverages)

RFID Tags Market, by Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
• China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa
  • United Arab Emirates
  • South Africa
  • Rest of Middle East & Africa (MEA)
• South America
  • Brazil
  • Rest of South America

Market Overvie

This report focuses on RFID tags market includes crucial information on market share, market size, and growth rate for the forecast period 2021 to 2030 at the global level, regional level and company level. From a global perspective, this report represents overall RFID tags market size by analyzing historical data and future prospect. The study highlights deep analysis on the major drivers of the market, restraints, and challenges to help the business owners, suppliers, and marketing personnel in planning effective strategies for the forecast period. This will help the business and manufacturers to lead the market and gain prominent position in future. The report also presents vital information through graphical representation on factors like table, charts, and statistics. The study includes drivers and restraints of the global RFID tags market.

The research not only conducts forecasts in terms of value, but also evaluates the market on the basis of essential parameters, such as Year-on-Year (Y-o-Y) growth. This helps providers to recognize the future opportunities as well predictability of the market.

In order to understand and assess opportunities in this market, the report is categorically divided into five key sections on the basis of segments. The report analyzes the global market in terms of value (US$ dollers) and volume (Million Units).

The research report includes specific segments by region (country), by company, by all segments. This study provides information about the growth and revenue during the historic and forecasted period of 2017 to 2030. Every segment is further sub-segmented into several sub-segmented that are deeply analyzed by experts to offer valuable information to the buyers and market players. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Major Key Points Covered in Report:

Executive Summary: It includes key trends of the RFID tags market related to products, applications, and other crucial factors. It also provides analysis of the competitive landscape and CAGR and market size of the RFID tags market based on production and revenue.

Production and Consumption by Region: It covers all regional markets to which the research study relates. Prices and key players in addition to production and consumption in each regional market are discussed.

Key Players: Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the RFID tags market.

Market Segments: This part of the report discusses about product, application and other segments of the RFID tags market based on market share, CAGR, market size, and various other factors.

Research Methodology: This section discusses about the research methodology and approach used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.

Regional Analysis

The research report includes a detailed study of regions of North America, Europe, China, Japan and Rest of the World. The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2017 to 2030. These analyses will help the reader to understand the potential worth of investment in a particular region.

The report provides in-depth segment analysis of the global RFID tags market, thereby providing valuable insights at macro as well as micro levels. Analysis of major countries, which hold growth opportunities or account for significant share has also been included as part of geographic analysis of the RFID tags market.

The report includes country-wise and region-wise market size for the period 2017-2030. It also includes market size and forecast by segments in terms of production capacity, price and revenue for the period 2017-2030.

Competitive Landscape and Market Share Analysis

The RFID tags market competitive landscape provides details by vendors, including company overview, company total revenue (financials), market potential, global presence, RFID tags sales and revenue generated, market share, price, production sites and facilities, SWOT analysis, product launch. For the period 2017-2020, this study provides the RFID tags sales, revenue and market share for each player covered in this report.

• Crucial data regarding the major contenders, product portfolio, market remuneration, and production patterns are documented in the report.
• The report presents the pricing models followed by each company, alongside the gross margins and market share held by each company.

Research Methodology

The research methodology adopted by analysts for compiling the global RFID tags market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global RFID tags market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2021) and forecast (2021-2030);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.