Global Radiofrequency Identification Rfid Tags Market Size 2024, Forecast To 2033
11 Mar, 2024
The radiofrequency identification (RFID) tags market has witnessed strong growth, increasing from $10.79 billion in 2023 to $11.67 billion in 2024, demonstrating a notable compound annual growth rate (CAGR) of 8.1%. This growth in the historic period can be attributed to the expansion of the industrial sector, the rise in the e-commerce industry, and an increase in healthcare expenditure. Moving towards 2028, the market is poised for continued strong growth, reaching $16.09 billion with a CAGR of 8.4%. Projected drivers for this growth include the rising adoption of the Internet of Things (IoT), the continued growth of the e-commerce industry, increased healthcare expenditure, the expansion of the industrial sector, the proliferation of smart cities, and the accelerated adoption of RFID tags across different sectors due to the COVID-19 pandemic. Key trends in the forecast period encompass a focus on strategic acquisitions to expand into newer markets, increase market share, gain access to newer technologies, and ultimately increase revenues, technological advancements, and a focus on new product launches.
Global Radiofrequency Identification RFID Tags Market Key Driver
The RFID tags market is set for growth propelled by the rising e-commerce and online retail sales. RFID technology plays a crucial role in providing e-commerce organizations with a clearer picture of the supply chain, facilitating efficient fulfillment of customer requests. In September 2022, according to the International Trade Administration, consumer eCommerce accounted for 30% of the UK's overall retail industry, up from 20% in 2020, generating over $120 billion in yearly sales. The growing trend of online purchases, with 82% of people in the UK making at least one online purchase in 2021, is driving the growth of the RFID tags market. Monitoring market sizes in 2023, 2024, and 2028 will be essential for understanding the trajectory of the RFID tags market in the forecast period.
Get A Free Sample Of The Global Radiofrequency Identification RFID Tags Market ReportGlobal Radiofrequency Identification RFID Tags Market Segments
The radiofrequency identification (rfid) tags market covered in this report is segmented –
1) By Tag Type: Active RFID, Passive RFID
2) By Material: Plastic, Paper, Glass, Metal, Other Materials
3) By Frequency: Low Frequency, High Frequency, Ultra High Frequency
4) By Application: AIndustrial, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Government, Other Applications
By Geography:The regions covered in the radiofrequency identification (rfid) tags market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the radio-frequency identification (RFID) tags market in 2023. The regions covered in the radiofrequency identification (rfid) tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Radiofrequency Identification RFID Tags Industry Players
Avery Dennison Corporation, Honeywell International Inc., NXP Semiconductors N.V., Identiv Inc., Zebra Technologies Corporation, HID Global, Invengo Information Technology Co Ltd, Nedap, Omni-ID, GAO RFID Inc., Essen RFID, Asset Online Pvt. Ltd, Raviraj Technologies, Greenfuturz, Chipsilicon, Copper Spiral RFID, CFI global, Zhejiang Laxcen Information Technology Co. Ltd, Shenzhen ZD Technology Co. Ltd, Chengdu Mind Golden Card System Co. Ltd, Guangzhou Qingsong Digital Technology Co. Ltd, Shenzhen Udohow Electronics Co. Ltd, Vantage Ear Tag RFID Technology Co. Ltd, SALTO Systems, Suprema, Alfi srl, Torchwood Technologies, Codegate Ltd, Pervasid, Alien Technology Corporation, AMS AG, Atmel Corp, CipherLab Co. Ltd., Confidex Ltd, Datalogic S.p.A., Impinj Inc., SMARTRAC N.V, Technology Solutions UK Ltd. (TSL), ThinkMagic (Trimble), Xerox Corporation, Texas instruments, Roper Technologies Inc., FleetCor Technologies Inc., Orbcomm Inc, Gaming Partners International Corporation, Abracon LLC, Marnlen, Bastian Solutions, SATO America, InLogic IT Solution, DominateRFID, Datametric Technologies LLC, Amricon, Acube Infotech LLC, ScreenCheck, OGTech, EAM RFID Solutions, Nofa-Med Solutions, Askaris, Absolute Integrated Electronic Solutions (AIES), Aitech Systems Ltd, Al Smari Trading, Attraf company, Markes International Ltd, BUCHI Labortechnik AG
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Radiofrequency Identification RFID Tags Market Overview
Radiofrequency Identification (RFID) Tags are small devices with a chip and an antenna that may be used to wirelessly identify the objects they are attached to by using an RFID reader. RFID tags transmit their identification, track, and communicate information to adjacent readers through radio waves, and can store a variety of data ranging from a single serial number to multiple pages of information. It uses that use hardware and software technologies that allow users to receive, store, and transmit data through radio frequency waves.
Radiofrequency Identification RFID Tags Global Market Report 2023 provides data on the global radiofrequency identification rfid tags market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The radiofrequency identification rfid tags market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.