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(Wireless-NewsWire.Com, February 06, 2018 ) RFID Tags Market was valued at $4.66 billion in 2016 and is projected to reach $13.65 billion by 2024, growing at a CAGR of 14.5 % from 2017 to 2024.By type, Passive RFID, generated the highest revenue share of $3.25 billion in 2016, growing at a CAGR of 13.8% in the global RFID Market.
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Radio Frequency Identification (RFID) tags or transponders are devices which are attached in particular items that is to be tracked or identified. The tags contain microchips in which the data is stored. The main components of RFID tags are Integrated Circuits (ICs) and Tag Antennas. ICs are small chips in which the data is stored and can be read multiple times by the reader. The chips are placed at the terminal of the antennas. On the other hand, tag antennas are small and low cost electronic components that detect signal from the readers antenna. The tag antenna works as per the range between the reader and RFID tag. RFID tags can be attached to currency notes, clothes and automobile which include information such batch no., ownership status, price, cost, size, purchase history, manufacturer name, and details.
An increase in demand for RFID tags has been noticed in the present market. It is highlighted because of certain factors such as an increase in a number of software solution vendors, adoption of latest medical equipment and electronic ticketing system. Increase in use of RFID products across the supply chain, logistics and healthcare market has driven the market growth to a mammoth height. RFID tags have also become popular in the retail market as it is being used in cosmetics and accessories, electronics, alcohol bottles, sports goods, jewelry, small appliances, leather and metal products. Numerous hospitals have adopted RFID tags in order to control threats to medical equipment, tracking patients location, doctors, and nurses in the hospital, monitoring unauthorized people, reviewing and updating patients information in the system. Complications in installing RFID systems, lack of standardization of networks and adding information in the existing RFID tag are few barriers, which are restraining the market growth. Cost of initial procurement and annual subscription is much lower, which is likely to bring growth opportunities in the near future.
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The global RFID Tags Market is segmented based on type, frequency, form factor, label type, chip type, end user, and geography. Based on the type the market can be bifurcated into active RFID and passive RFID. By frequency, it is divided into high-frequency RFID, low-frequency RFID, and ultra-high frequency RFID. As per end user, the market is segregated into healthcare, retail, electronics, logistics, and supply chain, transportation and other (Security and Surveillance, Defense, Agriculture, IT, etc.). Geographical segmentation includes North America, Europe, APAC and Rest of the World.
The key market players of the global RFID tag market are, Zebra Technologies Corp., Omni-Id, Inc.,Impinj, inc., Smartrac N.V, Alien Technology, LLC, Confidex-OY, Honeywell International, Invengo Information Technology Co. Ltd.,Wavetrent, Ltd. and NXP Semiconductors Netherlands B.V.
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Global RFID tags market segmentation:
By type
Active RFID
Passive RFID
By Frequency
Low Frequency
High Frequency
Ultra-High Frequency
By chip type:
Chipped
Chip less/Printed
By Wafer Size:
200mm
300mm
450mm and above
By Form Factor:
Button
Card
Electronic Housing
Implants
Key Fob
Label
Paper Tickets
Wrist Band
Others
By label Type
Plastic
Paper
Metal
Glass
Others
By End Use
Animal Tracking/Agriculture
Commercial
Healthcare
Transportation
Logistics and Supply Chain
Aerospace
Defense
Retail
o Food & Beverage
o Apparel and Footwear
o Health & Beauty
o House ware
o Others
Security and Access Control
Sports
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By Geography
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
France
Spain
Netherlands
Rest of Europe
Asia Pacific
India
China
Japan
Australia
Korea
New Zealand
Rest of Asia Pacific
Rest of World
Middle East
Africa
Latin America
Key Market Players:
Zebra Technologies Corp
Omni-Id Inc.
Impinj, Inc.
Smartrac N.V
Alien Technology, LLC.
Confidex-OY
Honeywell International
Invengo Information Technology Co. Ltd.
Wavetrent, Ltd.
NXP Semiconductors Netherlands
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