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2021
Rfid Tags Market

RFID Tags Market By Type (Passive, Active, Semi-Passive), Frequency (Low Frequency, High Frequency, Active Ultra-High Frequency, Ultra-High Frequency), Application (Agriculture, Transportation, Healthcare, Commercial, Logistic & Supply Chain, Aerospace, Defense, Security & Access Control, Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

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COVID-19

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RFID Tags Market Outlook – 2027

The global RFID tags market is experiencing significant growth and is expected to grow considerably in the next few years. They are a type of tracking system that uses smart barcodes to identify objects. RFID stands for radio frequency identification and utilize radio frequency technology. 

These radio waves transfer data from the tag to a reader, which then transfers the information to an RFID computer program. Radio frequency identification (RFID) technology has totally revolutionized the way companies do business. It has minimized the pressure on several manual processes, enhanced the efficiency of operations, increased asset traceability & visibility, reduced costs, improved reliability, and transparency in the supply chain of consumer goods.

The global RFID tags market is segmented on the basis of type, frequency, application and region. Based on type, the market is divided into passive, active, semi-passive. In terms of frequency, the market is categorized into low frequency, high frequency, active ultra-high frequency, ultra-high frequency. On the basis of application, the market is divided into agriculture, transportation, healthcare, commercial, logistic & supply chain, aerospace, defense, security & access control, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global RFID tags industry include AMS AG, NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., RF Code, Confidex Ltd., HID USA Corporation, Impinj Inc., Atmel Corp, and Omni-ID Ltd.. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global RFID tags market.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019–2027

Base Year Considered

2019

Forecast Period

2020–2027

Forecast Unit

Value (USD)

Segments Covered

Type, Frequency, Application, and Region

Regions Covered

North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and Rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa)

Companies Covered

AMS AG, NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., RF Code, Confidex Ltd., HID USA Corporation, Impinj Inc., Atmel Corp, and Omni-ID Ltd.

 

COVID-19 Scenario Analysis

  • To subdue the spread of COVID–19, respective governments have shutdown day-to-day business operations by implementing a full-scale lockdown. Labor shortages and delays in project completion are a few factors hindering the global RFID tags industry, resulting in a decline in production.
  • The global RFID tags market forecast has been significantly impacted by the outbreak. New projects throughout the world have stalled, which have significant demand for RFID tags.
  • The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes while the already available devices in various warehouses cannot be transported due to current rules & regulations, which disrupted the global supply chains.
  • The impact of COVID-19 on RFID tags market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase. This is expected to provide opportunities for companies operating in the market to think about ways of increasing production, research about technologies, and improve current products.

Top Impacting Factors

Many end-use industries with the need for access management technologies and material identification management have significantly driven the adoption of RFID tags market. There is growing adoption and usage of radio frequency identification (RFID) systems and tags in manufacturing and consumer goods; this factor is expected to act as a driver for the market growth. Growth in the usage of security measures and package protection is also a key factor that is expected to drive the market growth.

RFID devices are expected to witness a surge in demand as technological proliferation has led to extensive use of smart cards, access control, and other NFC applications. The use of Ubiquitous Sensor Networks (USNs) and many short-range wireless communications, such as Zigbee and WiFi, is expected to drive the RFID market growth. Moreover, there is requirement of huge costs for installation and integration of RFID systems that are used for various functionalities in RFID tags; this factor is expected to act as a restraint for the RFID tags market growth.

Growing Demand in Healthcare to Boost the Market

The increase in need for radio frequency identification (RFID) tags across the globe is driven by robust demand across the healthcare sector. A growing emphasis on radio frequency identification technology for patient tracking, parking, surgery asset management, medication authentication & control, and to sort medical instruments fuels the demand for RFID tags globally. In addition, increasing need for reducing operational cost in healthcare, upsurge in concern about drug counterfeit & safety, and growth in the incidence of medical device theft cases are driving the radio frequency identification (RFID) tags market in the healthcare industry. The technology holds huge potential for improving supply chain efficiency as well as ensuring patient safety while also reducing human errors across healthcare processes at the same time. 

Surge in Usage in Automotive and Industrial Applications 

The application of radio frequency identification (RFID) tags has increased across different sectors for their positive characteristics such as prevention of theft and shipment tracking in real-time. The intensifying requirement of a healthy supply chain is augmenting the usage of such tags in different sectors, including transportation and logistics. Advanced technologies, such as IoT and Big Data, play a vital role in propelling the market ahead. The employment of these tags has significantly increased in the aerospace and health sectors due to benefits such as enhanced supply chain visibility, improved maintenance tracking, efficient logistics, robust asset management, and utilization.

Many radio frequency identification (RFID) tag applications are increasing within retail stores, which drive the growth of the radio frequency identification (RFID) tags market. Presently, many retail sectors, such as clothing, are employing radio frequency identification (RFID) tags for maximizing inventory availability and enhancing the customer experience.

Key Segments Covered

Segments

Sub-Segments

Type

  • Passive
  • Active
  • Semi-Passive

Frequency

  • Low Frequency
  • High Frequency
  • Active Ultra-High Frequency
  • Ultra-High Frequency

Application

  • Agriculture
  • Transportation
  • Healthcare
  • Commercial
  • Logistic & Supply Chain
  • Aerospace
  • Defense
  • Security & Access Control
  • Others

 

Key Benefits of the Report

  • This study presents the analytical depiction of the global RFID tags industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global RFID tags market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global RFID tags market trends and growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed RFID tags market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the RFID Tags Market Research Report

  • Which are the leading market players active in the RFID tags market size?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the RFID tags market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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