Global Radio-Frequency Identification (RFID) Tags Market – Industry Trends and Forecast to 2029

Global Radio-Frequency Identification (RFID) Tags Market, By Wafer Size (200mm, 300mm, Others), Tag Type (Passive RFID, Active RFID), Form Factor (Button, Card, Implants, Key Fob, Label, Paper Tickets, Wristband, Others), Material (Plastic, Paper, Metal, Glass, Others), Frequency (Low Frequency, High Frequency, Ultra-High Frequency, Active Ultra-High Frequency), Application (Agriculture, Commercial, Transportation, Healthcare, Logistic and Supply Chain, Aerospace, Defence, Retail, Security and Access Control, Sports),– Industry Trends and Forecast to 2029

Market Analysis and Size

Radio frequency identification (RFID) tags are an important part of daily life and the use of this technology growing continuously. Consider, the tag on a bottle of alcohol at the store intended to discourage stealing, the small device or sticker on a car windshield those are all RFID tags. Though most RFID tags are used for Tack packages or merchandise, they can also be used to help track patients or pets in hospital settings.

Data Bridge Market Research analyses that the radio-frequency identification (RFID) tags market was valued at USD 11.21 billion in 2021 and is expected to reach USD 23.24 billion by 2029, registering a CAGR of 9.54 % during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

Report Scope and Market Segmentation

Market Definition

RFID tags are a type of tracking system which uses radio frequency to track, search, identify, and connect with people and items. Essentially, RFID tags are smart tags which can store a range of information with the help of serial numbers, to an even pages of data and even short description. Some RFID tags include cryptographic security which is used for a high level of authentication and verification. RFID tags are generally identified by their radio frequencies and ultra-high frequency (UHF), frequency (LF), high frequency (HF).

Radio-Frequency Identification (RFID) Tags Market Dynamics

Drivers

• RFID tags are durable and reusable

Increase the demand for RFID tags for their specific design due to this it works in harsh conditions. The durable hard case protects these RFID tags from the impacts of moisture, heat and changing weather conditions. The RFID tags can be reused, which will reduce the prices in the deployments which are expected to drive the growth of the radio-frequency identification (RFID) tags market.

• Rise the demand in healthcare sector

In healthcare sector increase the demand of RFID tags for tracking the patient’s history which has been witnessing the growth of the market. Due to increase the number of patients related to chronic as well as non-chronic diseases RFID tags have become mandatory because it simplifies tracking of the patient’s history and the course of treatment.

• Focus on improving supply chain

The most common use of RFID tag in supply chain which has been tracking parts moving to a manufacturing production line, tracking things in the supply chain, security, tracing assets and payment systems which let clienteles pay for items without using cash.

Opportunities

The latest technological innovations in the RFID tags market is the Chip less RFID tags with passive. These devices can be 3D printed which is making them ecologically sustainable and easy to manufacture. Moreover, due to the non-line of tag detection features and low manufacturing cost, chipless RFID tags is suitable to replace the use of barcodes. Printing on many materials is specially helpful in the business context. The manufacturer has the liberty to label the RFID per their guidelines, which is not the case for barcodes. Therefore, the rising trend of chipless RFID solutions is projected to present a growth opportunity for the manufacturer and supplier in the RFID tags market globally.

Restraints/ Challenges

The set-up of RFID is very complex and expensive because these set-up require locks with a secured system that can be controlled, accessed, and logged through the computer system. The other reason is RFID system can be hacked by someone who is tech-savvy this is also an issue. RFID tags are anticipated to create wonders in terms of identification and tracking but the pre-installed barcode systems are hindering the growth of the RFID market. Additionally, the privacy of the consumer couldn’t be called as “privacy” due to tracking at every point of time. This would be another factor which is restraining the radio-frequency identification (RFID) market.

This radio-frequency identification (RFID) tags market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the radio-frequency identification (RFID) tags market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Radio-Frequency Identification (RFID) Tags Market

The COVID 19 has shown a negative impact on the RFID tags market globally due to the lockdown which has disrupted the supply chain and reduced the demand for retail products. During COVID-19 pandemic, many organizations have faced a stoppage in tasks due to working standards and lockdown and limitations from governments. Reduce the interest for costly retail items globally, alongside supply network disturbances, which is relied upon to have hampered the development of the RFID tags market. However, using RFID innovation with industrial automation organizations, arrangements can restore quicker than what was expected in the upcoming years. Furthermore, RFID tags are also anticipated to play a vital role in identifying the problems across the healthcare supply chains. These factors are estimated to drive the RFID tags market during the ongoing pandemic.

Recent Development

• In April 2021, MiQro Innovation Collaborative Centre and Honeywell International Inc declared the implementation of AI-Driven Technology for a risk self-assessment process and new thermal screening at its Bromont, Quebec, facility to improve the wellbeing of building occupants and sustain better operations.
• In February 2021, NXP Semiconductors N.V. propelled new EdgeLock 2GO IoT service platform. This is security platform which is included with NXP’s Common Criteria (CC) EAL 6+ certified EdgeLock SE050 secure element to protect IoT devices which securely connect them to one or multiple service providers.

Global Radio-Frequency Identification (RFID) Tags Market Scope

The radio-frequency identification (RFID) tags market is segmented on the basis of water size, tag type, form factor, material, frequency and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Wafer Size

• 200mm
• 300mm
• Others

 Tag Type

• Passive RFID
• Active RFID

 Form Factor

• Button
• Card
• Implants
• Key Fob
• Label
• Paper Tickets
• Wristband
• Others

Material

• Plastic
• Paper
• Metal
• Glass
• Others

 Frequency

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

 Application

• Agriculture
• Commercial
• Transportation
• Healthcare
• Logistic and Supply Chain
• Aerospace, Defence
• Retail, Security and Access Control
• Sports

Radio-Frequency Identification (RFID) Tags Market Regional Analysis/Insights

The radio-frequency identification (RFID) tags market is analysed and market size insights and trends are provided by country, water size, tag type, form factor, material, frequency and application as referenced above.

The countries covered in the radio-frequency identification (RFID) tags market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the radio-frequency identification (RFID) tags market in terms of revenue and market share during the forecast period. This is due to the escalating demand for radio-frequency identification (RFID) tags in this region. North America region leads the radio-frequency identification (RFID) tags market due to the growth of retail industry and rising government initiatives for the adoption of RFID tags in this region.

During the projected period, Asia-Pacific is anticipated to be the fastest developing region because rapid urbanization, growth of population and rising industrial expansion in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Radio-Frequency Identification (RFID) Tags Market Share Analysis

The radio-frequency identification (RFID) tags market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to radio-frequency identification (RFID) tags market.

Some of the major players operating in the radio-frequency identification (RFID) tags market are:

• NXP Semiconductors (Netherlands)
• Invengo Technology Pte. Ltd (Singapore)
• Honeywell International Inc (US)
• HID Global Corporation (US)
• Applied Wireless, Inc (US)
• OMNI-ID (US)
• CORERFID (UK)
• GAO RFID Inc (US)
• Caen RFID S.R.L (Italy)
• Alien Technology, LLC (US)
• Impinj, Inc (US)
• Avery Dennison Corporation (US)
• Zebra Technologies Corp (US)
• Tageos (France)
• Identiv, Inc. (US)
• GlobeRanger (US)
• Motorola Mobility LLC (US)
• Vizinex RFID (US)
• ASSA ABLOY (Sweden)
• RFID Global Solution (US)
• Checkpoint Systems, Inc (US)