RFID Tags Market - Trends, Opportunity & Forecast, 2030
Rising focus towards development of durable and functional product portfolios, with some of the exclusive features is expected to drive industry growth over the coming years. Additionally, latest technological advancement and increasing number of value-added services on offer by local manufacturers will likely to escalate market progress as well. Asia Pacific is estimated to grow at a prominent CAGR over the forecast period. Booming retail sector and remarkable growth in the packaging sector are primary factors for rampant growth in Asia Pacific. Major players dominating the global market include Alien Technology, Inc., Confidex Ltd., HID Global Corp., Honeywell international Inc., Omni-ID Ltd., Impinj, Inc., and Invengo Information Technology Co. Ltd.
The report titled “RFID Tags Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030” offers market estimates for a period 2018 to 2030, wherein 2018 is historic period, 2019 is the base year, and 2020 to 2030 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global RFID tags market. Furthermore, the report would reflect on the key developments, global & regional sales network, business strategies, security & exchange overview, research & development activities, production facilities, product portfolio, employee strength, and key executive, for all the players considered under the scope of study. For instance, IT company Tech Mahindra Ltd said that it has acquired 18.1% stakes in each of two India-based logistics and asset tracking firms – Infotek Software and Systems Pvt Ltd and Vitaran Electronics Pvt Ltd. With the acquisitions, worth Rs 130 million, the company aims to leverage the presence of the companies in the Radio frequency Identification (RFID) space to build a strong footprint in the asset monitoring, tracking and automated billing solutions space in India, Tech Mahindra said.
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The RFID tags market study takes into consideration market segmentation based on product type, frequency, application, end use industry, and geography. Based on product type, the market is segmented into active, passive and semi-passive. Based on frequency, the RFID tag market is segmented into low frequency, high frequency and ultrahigh frequency. On the basis of applications of RFID tags, the global market is segmented into access control, livestock tracking, ticketing, cashless payment, and inventory management. Based on end use industry, the market is segmented into transportation & logistics, healthcare, food & beverages, retail, and others. By Geography, the market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
Additionally, the study provides in-depth analysis of individual companies considered under the scope of study with a focus on all operating business segment, and would identify the segment of the company focusing on RFID tags. Further, market share of company in the global market would also be calculated. For instance, Honeywell International Inc. operates through three segments namely Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Moreover, the company offers RFID Tags under the Honeywell Building Technologies segment which generated a revenue of US$ 9,298 Mn in 2018.
The report study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focus of all the companies. Furthermore, the global RFID tags market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the RFID tags business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global RFID tags market. For instance, Honeywell International Inc. reported revenues of US$ 41.80 Billion in 2018 and the segment and geographic analysis of the company indicates that Aerospace is the dominating revenue segment of the company, with the United States being the major revenue generating region.