This report presents a comprehensive overview of the global RFID tags market. It delves into various aspects such as market size, market share, application analysis, regional outlook, growth trends, key players, competitive strategies, and forecasts.
The RFID tags market is poised to witness robust growth over the forecast period from 2022 to 2030, building upon a strong foundation that saw it reach a value of US$ 5,955.8 million in 2020. This growth trajectory is primarily attributed to the increasing adoption of RFID technology worldwide. A significant contributing factor to this growth is the consistent decline in the prices of RFID tags, making them more accessible to various industries and applications.
RFID tags are electronic devices equipped with antennas that are affixed to goods, animals, or personnel for tracking purposes. The demand for these tags is fueled by their widespread application across diverse sectors such as retail, transportation, logistics, healthcare, agriculture, and more. Particularly, retail and transportation & logistics sectors contribute significantly, collectively accounting for over 65% of the market revenue globally.
Within the RFID tags market, the high-frequency (HF) RFID tags segment emerged as the dominant player in 2021, constituting over 40% of the total market revenue. This dominance can be attributed to factors such as standardized technology, faster detection, larger memory capacity, and a wider range of applications. However, the ultra-high frequency (UHF) RFID tags segment is anticipated to witness the highest growth in the coming years. UHF RFID tags offer advantages such as cost-effectiveness, longer range, and faster data transfer rates, making them increasingly preferred across various applications.
Key players in the RFID tags market are focusing on product enhancement to align with evolving RFID standards and applications. This includes a shift towards introducing UHF RFID tags to meet the growing demand. Major players profiled in the report include Zebra Technologies Corporation, Alien Technology Corporation, Honeywell International Inc., and GAO RFID Inc. among others.