Global RFID Tags Market is valued at approximately USD 14.50 billion in 2022 and is anticipated to grow with a CAGR of more than 11.90% over the forecast period 2023-2030. RFID (Radio-Frequency Identification) tags, also known as RFID transponders or RFID chips are small electronic devices that use radio waves to transmit and receive data wirelessly. They consist of a microchip and an antenna, encapsulated in various form factors such as cards, stickers, labels, or embedded directly into objects. The microchip within an RFID tag contains unique identification information and often additional data, such as product details or sensor readings. The antenna is responsible for transmitting and receiving radio signals to communicate with RFID readers or scanners. Additionally, the rapidly growing e-commerce market and increasing integration of IoT technology are anticipated to be the growth drivers of this market. Furthermore, increasing adaptation of RFID in various industries and growing advanced technology in RFID tags emerged as growth opportunities in the market.
According to India Brand Equity Foundation (IBEF) in 2023. With the overall e-commerce market projected to soar to USD 350 billion by 2030, the demand for RFID tags is set to play a crucial role in this expansion. Moreover, in 2022 alone, the e-commerce industry is anticipated to witness a substantial growth rate of 21.5%, propelling its value to USD 74.8 billion. As the e-commerce sector continues to thrive, the utilization of RFID tags is expected to surge, supporting the industry’s operational efficiency and supply chain management. According to Statista in 2022, the global count of Internet of Things (IoT) devices is expected to nearly triple from 9.7 billion in 2020 to over 29 billion by 2030. Similarly, from the same source China is expected to have the largest number of IoT devices, with approximately 5 billion consumer devices by 2030. IoT devices are utilized across various industry sectors and consumer markets, with the consumer segment representing around 60 percent of all connected IoT devices in 2020. This proportion is expected to remain consistent over the next decade. However, data security & privacy concerns and a limited read range of RFID Tags may hamper the growth of the market during the forecasted period of 2023-2030.
The key regions considered for the Global RFID Tags Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America, has secured a significant share in the RFID market within the region during the forecast period from 2022 to 2030. The region holds a prominent position in the RFID market due to the presence of key players such as Apple Inc. and Intel Corporation, which have made substantial investments in developing next-generation portable devices solutions and advancing digital display devices. Asia Pacific region is the fastest growing region in the RFID Tags market. Asia Pacific region is experiencing notable advancements in the healthcare, retail, and manufacturing sectors, accompanied by the adoption of emerging technologies. Countries such as Japan, South Korea, China, India, Australia & New Zealand (ANZ), and ASEAN countries are displaying a keen interest in RFID technology due to its affordability and long-term benefits.
Major market player included in this report are:
NXP Semiconductors N.V.
CAEN RFID Srl
GAO RFID Inc.
Invengo Information Technology Co. Ltd.
Infotek Software and Systems Private Limited
Bartronics India Ltd.
Bartech Data Systems Private Limited
Bar Code India Limited
Securitag Assembly Group Co Ltd
Linxens India Private Limited
Recent Developments in the Market:
Ø In March 2022, Avery Dennison Corporation revealed its acquisition of the linerless label technology created by Catchpoint Ltd, a Yorkshire-based company in England. This acquisition encompasses Catchpoint’s patents, brand, trade secrets, and extensive knowledge. As per the agreement, Avery Dennison may uphold Catchpoint’s existing commercial agreements.
Ø In June 2021, Impinj, Inc. introduced three next-gen RAIN RFID reader chips, namely Impinj E710, E510, and E310. This high-performance, low-power chips enable IoT device makers to meet the increasing demand for item connectivity in sectors such as retail, supply chain, and consumer electronics. With industry-leading integration and easy-to-use development tools, these chips facilitate the development of reliable IoT devices that identify, locate, and authenticate connected items.
Global RFID Tags Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Offering, Wafer Size, Tag Type, Frequency, Form Factor, Material, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Software & Services
By Wafer Size:
By Tag Type:
By Form Factor:
Middle East & Africa
Rest of Middle East & Africa