RFID Tags Market Analysis

Global RFID Tags Market Overview:

RFID Tags Market Size was valued at USD 4454.2 million in 2023. The RFID Tags market industry is projected to grow from USD 4907.19 million in 2024 to USD 10649.76 million by 2032, exhibiting a compound annual growth rate (CAGR) of 10.17% during the forecast period (2024 - 2032). The global RFID or Radio-Frequency Identification tags market is quite competitive and in great demand, with several players worldwide actively pushing and supporting the market. Technological innovations have reached a significant milestone in their sector through research and development, contributing to the market drivers.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

RFID Tags Market Trends

Rapid economic growth and technological advancements have increased manufacturing productivity across industries. The manufacturing industry is using digitalization to generate consumer goods that are both affordable and of high quality. Governments worldwide are taking steps to promote automation and digitalization of several industrial sectors, including oil & gas, machine manufacturing, pharmaceuticals, automotive & transportation, and electrical & electronics.

To ensure predictive maintenance of equipment and systems, industrial facilities increasingly need to monitor equipment condition and performance, process flaws, and system breakdowns. They must integrate specialised tools and implement quality management methods to do this. Managing plant assets using RFID technology aids firms in achieving this objective. At many places in a production plant, such as cameras, boilers, conveyors, tanks, and pipes, a combination of RFID tags and sensor systems is the ideal solution to manage and maintain the quality and output of a manufacturing process. RFID tags are put on tools, production equipment, and process elements that go into a finished product to track mobile assets throughout the process. The market for RFID tags has recently seen several technological advancements, including chipless RFID and passive tags. These gadgets may be 3D printed on various materials, making them simple to produce and environmentally friendly. Moreover, chipless RFID technology is a good replacement for currently utilized barcodes because of its low manufacturing costs and non-line tag detection capabilities. Printing on various materials is extremely useful in a professional setting. Unlike barcodes, the manufacturer can label the RFID according to their specifications. Therefore, rising utilization is enhancing the RFID Tags market CAGR globally in recent years.

Moreover, the RFID tags feature an antenna and integrated circuit for sending data to the RFID reader. An RFID tag communicates with an RFID reader by sending back a signal that includes information. The information readers obtain from the RFID tags is also transmitted to a host computer system via a communications interface to be stored in a database and later examined, contributing to the RFID Tags market revenue.

RFID Tags Market Segment Insights:

RFID Tags Standard Insights

Based on standard, the RFID Tags Market segmentation includes ISO 14443, ISO 18000-3, ISO 18000-6, and ISO 15693. The ISO 15693 held the majority share in 2022, contributing to around ~55-57% of RFID Tags Market revenue. There are various HF RFID standards in place, such as the ISO 15693 standard for tracking items and the ECMA-340 and ISO/IEC 18092 standards for Near Field Communication (NFC), a short-range technology that is usually used for data exchange between devices. The NFC tag reader session delegate receives an object that conforms to the NFCISO15693Tag protocol when the NFC tag reader session detects an ISO 15693-compatible tag.

April 2021: To enhance operations and occupancy in the market, The Honeywell International and Micro Innovation Collaboration Centre announced the introduction of a new thermal screening and risk self-assessment procedure last year.

February 2021: With a validated strategy for multiple clouds that ranged from frequency to offering improved prospects in market acceptability, NXP Semiconductors N.V. made its debut.

RFID Tags Frequency Insights

Based on frequency, the RFID Tags Market segmentation includes low, high, and ultra-high frequency. The ultra-high frequency dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. UHF passive RFID tags have the greatest read range and reading speed among all passive RFID tag types. The frequency range of passive RFID tags is 860-960 MHz. UHF active tags' two main operational frequencies are 433 MHz and 2.45 GHz. The read range for these tags is around 150 meters, the largest read range of any tag. UHF passive tags may be read from about 5–6 meters, and bigger UHF passive tags can read from a distance of up to 30 meters under ideal circumstances, contributing to the market growth.

Figure 1: RFID Tags Market, by Frequency, 2022 & 2030 (USD billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

RFID Tags Application Insights

The RFID Tags Market data has been bifurcated by application into transportation, agriculture, logistics, healthcare, aerospace, and retail. The retail segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. To use RFID in retail, products must include RFID tags that transmit signals to RFID readers, which are then processed by software to provide real-time results for transactions, stock taking, inventory levels, or specific customer purchase order histories. Retail inventory processes are typically manual, time-consuming, and only carried out at set intervals. RFID streamlines these processes. One of the primary uses of RFID in retail is item tracking. RFID can be used in retail to track frequently moved and stolen things while preventing theft.

June 2022: The dual-frequency (DF) family of RFID inlays from Avery Dennison Corporation combines NFC (HF) and RAIN RFID (UHF) capability for affordable item-level tagging in a compact design. The new AD Slim DF EM4425 tag has capabilities for customer involvement and is intended for use in logistics, healthcare, and industrial applications. This will positively impact the global RFID Tags industry.

October 2020: Avery Dennison Smartrac developed an AD Minidose U9 RAIN RFID inlay for pharmaceutical applications, unlocking key RFID value for healthcare, pharmacies, and laboratory asset management. One of the smallest solutions on the market, AD Minidose U9, has been given use approval by the DoseID industry consortium and received ARC certification (Spec S) from the RFID Lab at Auburn University.

RFID Tags Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Asia Pacific RFID Tags market accounted for USD 1.8 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. The demand for RFID solutions in the region has been driven by the fast-expanding implementation and research activity in the automation field and a major expansion of industry 4.0. The expansion of these RFID technologies in manufacturing facilities to increase productivity has been a major contributor to the region's economy. The region's RFID industry is expanding due to the rising use of electronic identity cards and RFID tags embedded in smart cards.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: RFID Tags Market SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe RFID Tags market accounts for the second-largest market share due to increased uptake by food and beverage producers. The two sectors where RFID tags are most commonly used are manufacturing and retail. The region's Radio Frequency Identification (RFID) tag market has expanded due to rising government efforts, expanding investments by aerospace and aviation manufacturers, and a steady rise in demand for low-cost prototypes. Further, the Germany RFID Tags market held the largest market share, and the UK RFID Tags market was the fastest-growing market in the European region

The North America RFID Tags Market is expected to grow at the fastest CAGR from 2024 to 2032. RFID tags are increasingly used in various applications in the manufacturing, healthcare, transportation & logistics, supply chain, and retail sectors of the US market. RFID is widely used in real-time supply chain management to track assets. Moreover, China RFID Tags market held the largest market share, and the India RFID Tags market was the fastest-growing market in the Asia-Pacific region

For instance, India RFID Tags market is expected to grow with the fastest-growing CAGR during the forecast period. One of the effective technologies for managing products and materials in a manufacturing setting is RFID. The region's growing manufacturing sector and automation and Industrial Internet of Things (IIoT) technologies fueled the market's expansion. Over the projection period, government efforts like smart cities will combine with expanding contactless infrastructure demand and growing asset management investments by businesses across various industries to propel market expansion.

RFID Tags Key Market Players & Competitive Insights

Major market players invest heavily in their research and development departments to expand their product portfolios further. Additionally, market leaders are focused on integrating various market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Players in the RFID Tags industry are also focused on optimizing their supply chains by reducing operating costs.

Market leaders in the RFID Tags industry are also expected to expand on regional and local players by merging with accommodating players. The RFID Tags market major player such as NXP Semiconductors N.V. (Netherlands), Invengo Information Technology Co. Ltd (China), Honeywell International Inc (U.S.), HID Global Corporation (U.S.), Applied Wireless (U.S.) Inc and others are working on expanding the market demand by investing in research and development activities.

The Netherlands-based semiconductor manufacturer and designer NXP Semiconductors N.V. (NXP) is based in Eindhoven. The organization employs almost 31,000 employees in more than 30 nations. In 2021, NXP reported $11.06 billion in revenue. On August 6, 2010, NXP, first separated from Philips in 2006, completed its first public offering. Shares of NXP now trade on the NASDAQ under the ticker name NXPI. NXP Semiconductors was included in the NASDAQ 100 on December 23, 2013. [3] It was announced that NXP and Freescale Semiconductor would merge on March 2, 2015. On December 7, 2015, the transaction was finalized. It was disclosed on October 27, 2016, that Qualcomm would attempt to acquire NXP.

Omni-ID sells radio-frequency identification (RFID) tags with a passive UHF frequency. The company, formerly known as Omni-ID, Ltd., was established in 2007 and produces a variety of RFID tags that may be used on metal and in liquids, among other surfaces. The business is founded on a research division established under QinetiQ, a global provider of defense technology created when the former UK government organization Defence Evaluation and Research Agency (DERA) was disbanded in June 2001. For an "electromagnetic radiation decoupler," Omni-ID was awarded UK patent number GB2429878 on August 22, 2007.

Key Companies in the RFID Tags market include

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  NXP Semiconductors N.V. (Netherlands)

  
  


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  Invengo Information Technology Co. Ltd (China)

  
  


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  Honeywell International Inc (U.S.)

  
  


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  HID Global Corporation (U.S.)

  
  


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  Applied Wireless (U.S.) Inc

  
  


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  OMNI-ID (U.S.)

  
  


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  CORERFID LTD (U.K.)

  
  


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  GAO RFID Inc (Canada)

  
  


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  Caen RFID S.R.L (Italy)

  
  


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  Alien Technology (U.S.), among others

  
  

RFID Tags Industry Developments

January 2024- Mark Andy has constantly altered and adapted its product range to fulfill the demand for labels and packages in the printing industry. Its present portfolio considers several "must-have" factors in terms of efficiency, sustainability, and inclusiveness. In close collaboration with technology allies, Mark Andy has successfully deployed innovative manufacturing lines using RFID and linerless label production lines. The latter has become one of the market features in recent years, primarily in the food market. The recent trends in label and packaging production were the primary topics of Mark Andy's presentation during the Safe Packaging conference in Warsaw, Poland.

September 2023- Radio-frequency identification (RFID) extends the capacity for checkout-free technology to clothing, fan gear, soft lines, and more. Amazon loves revolutionizing on behalf of its customers and pushing the boundaries of what's possible. From the day the company inaugurated its first Just Walk Out technology store in 2018, customers told the company authorities how magical they find checkout-free shopping. Now, the technology is a sensation in entertainment airports, grocery venues, universities, convenience stores, and stadiums across the US, Australia, and the UK. Customers love being able to grab what they require and get on their way without having to wait in line. Retail operators and store owners embraced the cost-efficiency and revenue-driving advantages of Walk Out technology. Just Walk Out technology leverages sensor fusion, artificial intelligence (AI), shelf sensors, and camera technologies, like computer vision and generative AI, to allow retailers to sell a wide selection of products, such as food, home goods, groceries, beverages, and more. At computer vision-based checkout-free stores, products are displayed on shelves or tables so the system can see which items are being taken. That means products such as clothing require to be packaged in boxes or bags- but that's not always the way people shop for soft goods. To deal with the extraordinary nature of shopping for soft lines, the company is happy to disclose the latest offering that combines the power of Walk Out technology and RFID.

April 2021: The cloud-based service for fixed RFID systems from Zebra Technologies Corporation enables users to manage readers and send tag-read data to the cloud with reading modes. The introduction of cloud-based RFID solutions is anticipated to open up new chances for the company, given the ongoing digital revolution around the globe, which requires numerous facilities to adopt cloud-based solutions.

June 2020: Murata Manufacturing and Michelin developed a new generation of RFID modules integrated into tyres. Passive RFID tags can be driven incredibly long distances without needing an external power source and will still function continually.

September 2020: The Nedap iD Cloud Platform, an integrated set of SaaS solutions specially created for RFID technology, was introduced by Nedap NV. Nedap iD Cloud tracks every unique item's movement across the supply chain. It collects data in a cloud-based inventory repository to give merchants and brands optimal inventory visibility without waste or losses.

RFID Tags Market Segmentation:

RFID Tags Standard Outlook

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  ISO 14443

  
  


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  ISO 18000-3

  
  


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  ISO 18000-6

  
  


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  ISO 15693

  
  

RFID Tags Frequency Outlook 

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  Low Frequency

  
  


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  High Frequency

  
  


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  Ultra-High Frequency

  
  

RFID Tags Application Outlook 

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  Transportation

  
  


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  Agriculture

  
  


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  Logistics

  
  


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  Healthcare

  
  


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  Aerospace

  
  


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  Retail

  
  

RFID Tags Regional Outlook

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  North America

  
  
  
  
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    US

    
    
  
  
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    Canada

    
    
  
  
  
  


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  Europe

  
  
  
  
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    Germany

    
    
  
  
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    France

    
    
  
  
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    UK

    
    
  
  
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    Italy

    
    
  
  
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    Spain

    
    
  
  
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    Rest of Europe

    
    
  
  
  
  


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  Asia-Pacific

  
  
  
  
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    China

    
    
  
  
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    Japan

    
    
  
  
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    India

    
    
  
  
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    Australia

    
    
  
  
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    South Korea

    
    
  
  
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    Australia

    
    
  
  
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    Rest of Asia-Pacific

    
    
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America