According to a new market research report published by Credence Research “Radio Frequency Identification (RFID) Tags Market (Product Type – Active RFID Tags, Passive RFID Tags and Semi-passive RFID Tags; Frequency – Low Frequency (125 kHz – 134 kHz), High Frequency (13.56 MHz) and Ultra-high Frequency (860 MHz to 960 MHz); Industry Verticals – Apparel & Retail, Pharmaceuticals & Healthcare, Transportation & Logistics, Industrial Manufacturing, Automotive, Agriculture & Livestock and Others (Oil & Gas, Government etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, The worldwide market for RFID tags was valued at US$ 4,955.8 million in 2017 and is expected to show robust development over the 2018-2026 forecast period.
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RFID tags are among the most significant parts of the general RFID monitoring system. The market is strongly influenced by the ever-increasing retail industry globally. India and China are the most profitable markets for RFID tags owing to the quickly increasing retail and transport & logistics sector here. Another significant factor promoting market growth is the steady decrease in RFID tag prices. RFID tags are now accessible at rates as low as US$ 0.10, making them accessible for a wide range of apps. In addition, the superior benefits of RFID technologies over other standard tracking systems would guarantee a strong demand for RFUD tags over the years to come.
The market for RFID tags is segmented by product type, working frequency, vertical sector and geography. Based on the product type, the HF RFID tags section resulted the worldwide market to contribute 43% of the complete market value in 2017. Segment development is driven by merits such as greater memory, long range, quicker detection and standardized technology. However, the UHF RFID tags segment is set to record the largest growth rate in the following years. UHF is the recent RFID protocol that can serve a broad variety of apps. In addition, UHF RFID is superior to LF and HF RFID systems in almost all aspects, making it the most lucrative segment of RFID tags.
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Further, based on industry vertical, the market is led by the retail & apparel sector owing to the huge penetration of RFID tracking systems in the segment. Transportation segment (covering aviation) is expected to register high growth due to the mandated use of RFID tags by the International Air Transport Association (IATA). Based on the geography, Asia Pacific dominated the RFID tags market worldwide in 2017 with market share of more than 1/3rd of the global revenue. The market here is strongly backed by the steadily growing retail sector in the region complemented by the presence of strong transportation & logistics industry. Additionally, increasing penetration of RFID systems for effective tracking industrial sector is another major factor supporting the regional market growth.
The overall RFID tags market is quite competitive in nature with presence of large number of regional as well as international players in the market. Market players focus on developing UHF RFID (RAIN RFID) products, considering their growing adoption. The report covers profiles for major companies including Zebra Technologies Corporation, Invengo Technology Pte. Ltd., Alien Technology Corporation, Impinj, Inc., Honeywell International, Inc., GAO RFID, Inc., NXP Semiconductors N.V., SATO Holdings Corporation, Omni-ID Ltd., HID Global Corporation, SMARTRAC N.V., Confidex Ltd. and others.
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By Product Type Segment (2016–2026; US$ Mn)
- Active RFID Tags
- Passive RFID Tags
- Semi-passive RFID Tags
By Frequency Segment (2016–2026; US$ Mn)
- Low Frequency (125 kHz – 134 kHz) LF RFID Tags
- High Frequency (13.56 MHz) HF/NFC RFID Tags
- Ultra-high Frequency (860 MHz to 960 MHz) UHF RFID Tags
By Industry Vertical Segment (2016–2026; US$ Mn)
- Apparel & Retail
- Pharmaceutical & Healthcare
- Transportation & Logistics
- Industrial Manufacturing
- Agriculture & Livestock
- Others (Oil & Gas, Government etc.)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America