Market Research Future (MRFR) in its “RFID Tags Market Size “report states that the market is likely to grow rapidly over the forecast period of 2017 to 2023. MRFR reveals that the global market of RFID tags is estimated to expand at a CAGR of 7.6% over the years to evaluation. RFID tags are replacing barcodes in supply chains. As e-commerce industry is booming, the application RFID tags is surging. This is identified as a major cause that is likely to boost the expansion of RFID Tags Market Size.

Segmental Outline

The RFID Tags Market Size is segmented by types and application.

By type, the market is segmented into active, passive, and semi-passive. The passive RFID tags segment is estimated to have command on the market share in the years to come. Passive tags do not have source for internal power. Therefore they depend on power induced by a reader. 

By end user, the market is segmented into automotive, healthcare, retail, logistics, transportation, and others. The logistics and transportation segment is likely to dominate the market in the years to come. 

Regional Analysis

The RFID tag market in North America is expected to dominate in the years to come. The increase in governments’ initiatives to adopt RFID tags across different verticals in order to maintain a tight security is observed to be a major cause for the expansion of the market in North America.

The Asia Pacific RFID market anticipated to thrive at a high CAGR across the review period. The surge in adoption these tags by the packaging sector is identified as the main factor that can prompt the market growth. Rising industrial expansion, as well as increasing, urbanize population in the developing countries provide the further boost the market.

Key Players

Confidex Ltd (Finland), Alien Technology (U.S.), Honeywell international Inc. (U.S.), HID Global Corporation (U.S.), Omni-ID Ltd (U.S.), Impinj, Inc. (U.S.), Smartrac N.V. (Netherlands)