The future of the global RFID Tag Market looks promising with opportunities in the transportation, agriculture, logistics, healthcare, aerospace, and retail applications. The global RFID tag market is expected to reach an estimated $20.8 billion by 2030 with a CAGR of 8.5% from 2024 to 2030. The major drivers for this market are growing demand for these tags from the retail sector to increase visibility and speed, widespread use of such tags in automated toll booth payment, and rising use of these tags as patient-tracking systems.
Some of the key questions
answered in this exclusive report are:
Q.1. What are some of
the most promising, high-growth opportunities for the RFID tag market by product
type (active RFID tag and passive RFID tags), frequency (low frequency (LF)
RFID tags, high frequency (HF) RFID tags, and ultra-high frequency (UHF) RFID
tags), application (transportation, agriculture, logistics, healthcare,
aerospace, retail, and others), and region (North America, Europe, Asia
Pacific, and the Rest of the World)?
Q.2. Which segments will
grow at a faster pace and why?
Q.3. Which region will
grow at a faster pace and why?
Q.4. What are the key
factors affecting market dynamics? What are the key challenges and business
risks in this market?
Q.5. What are the
business risks and competitive threats in this market?
Q.6. What are the
emerging trends in this market and the reasons behind them?
Q.7. What are some of
the changing demands of customers in the market?
Q.8. What are the new
developments in the market? Which companies are leading these developments?
Q.9. Who are the major
players in this market? What strategic initiatives are key players pursuing for
business growth?
Q.10. What are some of
the competing products in this market and how big of a threat do they pose for
loss of market share by material or product substitution?
Q.11. What M&A
activity has occurred in the last 5 years and what has its impact been on the
industry?
Market Segmentation:
In this market, active
and passive are the two major segments of RFID tag market by product type.
Lucintel forecasts that active is expected to witness higher growth over the
forecast period due to its significant use among various sectors to boost
supply chain efficiency, track assets in real time, enhance inventory control,
minimize losses, monitor vehicles, prevent theft, and manage access
effectively.Within this market, retail will remain the largest segment due to
the substantial use of RFID tags in this sector to provide real-time outcomes
of transactions, inventory levels, stock taking, or specific customer purchase
order histories.
APAC is expected to
witness highest growth over the forecast period due to rapid expansion of
industry 4.0, rising demand for electronic ID cards and RFID tag based smart
cards, and rapid digitization in the region.
NXP Semiconductors,
Invengo Technology, Honeywell International, HID Global, Applied Wireless,
OMNI-ID, CORERFID, GAO RFID, Caen RFID, and Alien Technology are the major suppliers
in the RFID tag market.
About
Lucintel
Lucintel, the premier global
management consulting and market research firm, creates winning strategies for
growth. It offers market assessments, competitive analysis, opportunity
analysis, growth
consulting, M&A, and due diligence services to executives and
key decision-makers in a variety of industries.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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