The global RFID tags market, valued at approximately USD 14.50 billion in 2022, is projected to grow at a CAGR of over 11.90% from 2023 to 2030. RFID tags, utilizing radio waves for wireless data transmission, are integral in various sectors like e-commerce, healthcare, and manufacturing. The market’s growth is fueled by the expanding e-commerce industry and the increasing integration of IoT technology, offering enhanced operational efficiency and supply chain management. However, challenges such as data security and limited read range may hinder market growth.
North America holds a significant share in the market due to key players’ presence and investments in technological advancements. Meanwhile, the Asia Pacific region is witnessing rapid growth, driven by developments in healthcare, retail, and manufacturing, coupled with the affordability and long-term benefits of RFID technology. Major market players include NXP Semiconductors, CAEN RFID, and GAO RFID, among others.
Recent developments include Avery Dennison’s acquisition of Catchpoint Ltd’s linerless label technology and Impinj Inc.’s introduction of next-gen RAIN RFID reader chips. The report covers historical data from 2020-2021, with forecasts up to 2030, offering insights into revenue forecasts, competitive landscapes, growth factors, and trends across regions and segments.