This research service analyses the trends in the RFID tags market, globally. Passive technology continues to dominate the market based on its ease of use and pricing. This study focuses on the challenges and factors that are likely to drive the market growth in the coming years. The study provides region-wise analyses in addition to providing competitive analysis. This deliverable will provide key market participants with the necessary business intelligence to help them accelerate growth in a fast-paced market.
Among the various radio frequency identification (RFID) components, tags have been the largest revenue contributor and continue the same trend over the forecast period. The global market for RFID tags is expected to grow at a compound annual growth rate (CAGR) of percent between 2012 and 2019.
Traditionally, retail and industrial segments have been major revenue generators for tags. Applications such as tool tracking, patient monitoring, tracking perishable goods, and returnable transport items are high growth areas.
Passive is expected to dominate the market over the forecast period with considerable demand for UHF tags due to pricing. Active continues to cater to specific applications with real time location systems (RTLS) expected to offer considerable potential.
Whilst Europe and North America were early adopters of the technology and account for a major share of the world market, the future demand is expected to be steady. Emerging Markets, such as Brazil, India, South Africa, the Middle East, Russia, and China, are expected to embrace this technology, thereby offering considerable growth opportunities.
Customer purchase decisions vary with respect to end-user industries. Despite product quality and performance being the most important factors, other factors such as price, delivery time, and global network also influence purchasing decisions.
Traditional markets are dominated by large conglomerates but are expected to witness further consolidation. Niche applications drive newer entrants into this market.
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