RFID Tags Market Size, Growth & Forecast 2018-2026

RFID Tags Market to be Driven by Growing RFID Technology Penetration and Consistent Price Decline

The global RFID tag market is expected to grow at a rapid pace from 2018 to 2026, rising from US$ 4,955.8 million in 2017.RFID tags are electronic devices embedded with an antenna attached to the goods, animals, or persons to be tracked. The demand for RFID tags is primarily governed by the continually growing penetration of RFID tracking systems worldwide. Factors such as the consistent decline in price and widespread application area have ensured robust market growth over the period. RFID tags are available at a variety of prices, starting as low as US$ 0.10 and rising to more than US$ 20, depending on the application. The market heavily relies on the retail and transportation, and logistics sectors, which together account for more than 65% of the overall market revenue generated worldwide. Major retail companies such as Walmart, Inc., Metro AG, and Target Corporation have already mandated the use of RFID tracking systems for effective asset and goods tracking. Additionally, major consumer packaged goods (CPG) companies hold a prominent position in adopting RFID tracking systems, thereby supporting the RFID tag market's growth.

Market Synopsis

HF RFID Tags to Dominate the Market; UHF RFID Tag Segment to Register the Highest Growth

The HF RFID tags segment led the overall market in 2017, contributing to more than 40% of the total market revenue generated worldwide. Although LF RFID systems are competent as well, factors such as standardized technology, faster detection, a larger memory, a somewhat longer range, and a broad application area make them desirable. Thus, despite being more expensive than L.F. systems, HF RFID systems are more widespread, making the H.F. tag segment dominant in the market. In the following years, the UHF RFID tag segment is set to register the highest growth in the market. UHF RFID tags are cheap, long-range, and offer a faster data transfer rate as compared to their L.F. and H.F. counterparts. Furthermore, this latest RFID standard supports multiple tag readings and can be used in a variety of applications such as retail, inventory management, pharmaceutical anti-counterfeiting, and others. Thus, the segment would register its highest growth rate during the forecast period.

Asia Pacific to Continue its Dominance due to Rising Industrial and Retail Sectors

In 2017, Asia Pacific accounted for the largest share, in terms of value, in the overall RFID tag market, contributing to more than 1/3rd of the global market value. Asia Pacific possesses the most promising retail sector globally, demonstrating a nearly 5% growth rate every year since 2015. Similarly, the e-commerce industry in India and China has been demonstrating double-digit growth for the past few years. The two countries are expected to remain the most lucrative markets on account of the rapidly growing retail and transportation, and logistics sectors here. The Asia Pacific region is closely followed by North America due to the higher adoption of applications such as livestock tracking, pet tracking, and personnel tracking. North America is expected to register a robust growth rate due to the rapidly growing penetration of UHF RFID systems here.

New product development for multiple end-user verticals will continue to be the primary strategy.

The overall RFID tag market is competitive in nature and characterized by a large number of regional as well as international players. Major market players place emphasis on product enhancement in accordance with the latest RFID standards and booming RFID applications. Due to the continued adoption of UHF RFID (RAIN RFID) systems in the industry, market players are more inclined toward introducing UHF RFID tags. The report provides detailed profiles of the major market players, including Zebra Technologies Corporation, Impinj, Inc., Alien Technology Corporation, Invengo Technology Pte. Ltd., Honeywell International, Inc., GAO RFID, Inc., NXP Semiconductors N.V., SATO Holdings Corporation, Omni-ID Ltd., HID Global Corporation, SMARTRAC N.V., Confidex Ltd., and others.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The RFID Tags Market Report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global RFID tag market based on product type, frequency, industry vertical, and geography. Key segments covered in the report are as follows:

Key questions are answered in this report.

What was the market size of RFID tags in 2017 and the forecast up to 2026?
Which is the largest regional market for RFID tags?
What are the notable market trends observed in the RFID tag market?
Who are the key players leading the market?
What are the key strategies adopted by the leading players in the market?

This report's distinct data points

Statistics on retail and industrial manufacturing sectors worldwide
Recent trends across different regions in terms of the adoption of RAIN RFID technology
attractive investment propositions for vertical industry segments as well as geography
Comparative scenario for all the segments for years 2017 (actual) and 2026 (forecast)

Frequently Asked Questions:

The market for RFID Tags is expected to reach US$ 4,955.8 Mn in 2026.

The RFID Tags market is expected to see significant CAGR growth over the coming years,at XX %.

The report is forecasted from 2018-2026.

The base year of this report is 2017.

Zebra Technologies Corporation,Impinj, Inc.,GAO RFID, Inc.,Alien Technology Corporation,Honeywell International, Inc. are some of the major players in the global market.

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