In addition, advanced technologies such as Internet of Things (IoT) and big data is widely used in integration with the RFID tags for identifying and capturing the data from different objects or products and then storing the data on the cloud or in the large databases. These technologies are extensively being used in different e-commerce and in other online or offline retail platforms. Furthermore, as RFID tags are beneficial in robust assets management, improved supply chain visibility, efficient logistics, enhanced maintenance tracking and transportation, the implementation of RFID tags has also augmented in health care and aerospace industry, thus growing its demand in such sectors. RFID tags are classified in active RFID tags, passive RFID tags and semi-passive RFID tags, which can be used in different frequency ranges such as low frequency, high frequency and ultra-high frequency range. Apart from this, this RFID tags can be used in diverse end-use industries, for instance, apparel & retail, industrial manufacturing, transportation & logistics, automotive, pharmaceuticals & healthcare, and agriculture & livestock, among others.
The RFID tags market is split into wide number of RFID tags manufacturers and providers who efficiently provide ultrahigh frequency RFID products across the globe. Some of the key players in the global RFID tags market are Zebra Technologies Corporation, Alien Technology Corporation, Invengo Technology Pte. Ltd., Honeywell International, Inc., GAO RFID, Inc., NXP Semiconductors N.V., SATO Holdings Corporation, Omni-ID Ltd., Confidex Ltd. and HID Global Corporation.
Global RFID Tags Market, By Product Type
Based on product type, RFID tags market is segmented into the following:
- Active RFID Tags
- Passive RFID Tags
- Semi-passive RFID Tags
In 2020, the passive RFID tags segment led the overall RFID tags market in terms of market value accounting for over 44% of the global market. The passive tags covers 2/3rd of the overall RFID tags market and are widely used for different applications due to their higher radio frequency along with long detection range. The passive tags are small in size and are useful in most of the retail, apparels, logistics, and pharmaceuticals, among other applications. Apart from this, various hospitals and healthcare institute in the developed region are using passive RFID tags for patient monitoring, equipment tracking and other tracking tasks. Moreover, major players of the market are concentrating more on the development and growth of the passive RFID tags for long detection range, hence theirdemand is rising and is expected to great during the forecast period.
Global RFID Tags Market, By Frequency
Based on frequency, RFID tags market is segmented into the following:
- Low Frequency (LF) RFID Tags
- High Frequency (HF) RFID Tags
- Ultra-high Frequency (UHF) RFID Tags
In 2020, the high frequency (HF) RFID tags segment dominated the overall RFID tags market in terms of market value accounting for over 40% of the global market. The high frequency RFID tags are widely used among different end-use industry due to its faster detection feature, standardized technology, long detection range, wide application area and large memory storage. Hence, the high frequency RFID systems has more widespread implementation and are dominant in the RFID tags market. Apart from this, due to cost-effectiveness of ultra-high frequency (UHF) RFID tags as compared to high frequency tags, these are expected to experience highest growth in the forecast period, also, it is prevalent due to its benefit of offering fast data or information transfer rate. Moreover, UHF RFID tags also support multiple tags reading at a single time and can be utilized in different applications such as pharmaceutical anti-counterfeiting, inventory management and retail, among others. Therefore, it would show high growth in the forecast period.
Global RFID Tags Market, By End-use Industry
Based on end-use industry, the RFID tags market is segmented into the following:
- Apparel and Footwear
- Apparel & Retail
- Transportation & Logistics
- Industrial Manufacturing
- Pharmaceuticals & Healthcare
- Agriculture & Livestock
In 2020, the apparel & retail segment led the overall RAIN RFID solutions market in terms of market value accounting for over 34% of the global market. The RFID tags market heavily depends on retail sector and transportation & logistics sector, which contributes more than 54% of the overall market revenue across the world. Major companies that operate in retail sector are already using or have made it mandatory to use RFID systems for tracking and identification of objects and products, which helps in effective inventory management solution. Apart from this, companies for consumer package goods (CPG) are also adopting RFID tracking systems, which is enhancing the growth of the market. Moreover, the combination of RFID tags with advanced technologies has increased across different sectors for prevention of theft of objects, and shipment tracking in real-time. Hence, the demand for RFID tags is more in retail sector as compared to others.
Global RFID Tags Market, By Geography
Based on geography, the RFID tags market is segmented into following:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
In 2020, Asia Pacific held the largest share in the RFID tags market because of the high adoption of RFID technology in different sector across the region. Apart from this, the Asia Pacific region holds most promising growth in retail sector across the world, similarly, e-commerce sector in China and India is also showing double-digit growth from last few years. Moreover, China and India shows higher progress in transportation and logistics sector, as there is adoption of RFID tags in various applications such as livestock tracking, personnel tracking, and pet tracking, among others. In addition, rise in urbanized population and increase in industrial expansion may also lead to the adoption of RFID tags market. Furthermore, North America is expected to show fastest growth in RFID tags market due to rapid penetration of UHF RFID systems in this region.