DUBLIN--(BUSINESS WIRE)--The "RFID Market by Offering (Tags, Readers, Software & Services), Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor (Card, Implant, Key Fob, Label, Paper Ticket, Band), Material, Application & Region - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The RFID market is projected to reach USD 35.6 billion by 2030 from USD 14.5 billion in 2022; it is expected to grow at a CAGR of 11.9% from 2022 to 2030.
The RFID market has been segmented by product, tag, and region. The tag subsegment is further divided into wafer size, tag type, frequency, application, form factor, and material. Product launches and developments were the key strategies adopted by the leading players in the market from January 2018 to May 2022.
Other strategies adopted by the players to grow in the market during this period were partnerships and collaborations, acquisitions, and expansions. The RFID market is witnessing a rise in demand for hybrid solutions. Hybrid solutions have been designed to overcome some of the challenges associated with a single technology-based RFID system.
A hybrid solution not only helps end users deploy RFID technology at blind spots but also helps reduce infrastructure requirements by utilizing existing technologies such as Wi-Fi or GPS. RFID-based IoT solutions are gaining momentum as multiple forces drive their adoption.
The declining cost of RFID tags, widely accepted IP networks, and new business opportunities contribute to the rising demand for RFID-based IoT solutions. These solutions help track physical assets to improve business processes and cost-efficiencies in many industries and government organizations.
The 8 inch wafer size segment holds the highest market in 2021
The 8-inch wafer size segment held the largest market share in 2021. The 8-inch or 200 mm wafers are the most-produced wafers. The top three players in the market - Alien Technologies, Impinj, and NXP - use 8-inch wafers for chip production. Many players are reluctant to shift to 12-inch wafers as it incurs a huge amount of investment for equipment.
The market for other wafer sizes is expected to grow in the coming years with the expected reduction in the prices, mostly of 12-inch wafers. This will bridge the gap between 8-inch and 12-inch wafers, and, in turn, help in the smooth transition of the industry to 12-inch wafers. In late 2016, NXP started providing 12-inch wafers for long-range RFID chips in addition to 8-inch wafers.
This has significantly increased the supply capacity of NXP, improved assembly quality and efficiency, and, most importantly, reduced manufacturing waste and electricity needs. Avery Dennison was the first player to provide inlays with the new 12-inch offerings of NXP.
The ultra-high frequency segment, of RFID tags market by frequency is expected to grow at highest CAGR during the forecast period
Ultra-high frequency (UHF) tags can be classified into two types on the basis of frequency range: passive tags and active tags. UHF passive RFID tags offer the longest read range and highest reading speed among all passive tags. These tags have a frequency range of 860-960 MHz.
This frequency range is commonly referred to as 900 or 915 MHz in terms of single frequency. Generally, UHF passive tags can be read from an average distance of about 5-6 meters; larger UHF passive tags can read more than 30 meters in ideal conditions. UHF passive tags are generally used for applications requiring a read range of more than 1 meter, such as asset tracking, asset counting, inventory management, supply chain management, vehicle tagging, and manufacturing equipment and product part tagging.
UHF active tags are more efficient than passive UHF tags in terms of reading range, the number of tags connected simultaneously, and continuous monitoring. However, these are much costlier than passive UHF tags.
This is the key reason owing to which customers prefer passive UHF tags. Some companies provide semi-passive UFH tags that include a battery, which increases the read range of the passive UFH tags while being less expensive than active UHF tags. This is expected to propel the RFID market for UHF passive tags.
Premium Insights
- Asia-Pacific to Emerge as Lucrative Growth Avenue for RFID Market
- Ultra-High Frequency Segment to Lead RFID Market from 2022 to 2030
- Paper Segment to Account for Largest Market Share During 2022-2030
- Logistics & Supply Chain Segment and China to Account for Largest Shares of Market in Asia-Pacific in 2030
- RFID Market to Record Highest CAGR in Japan During 2022-2030
Market Dynamics
Drivers
- Increasing Need for RFID Systems in Manufacturing Units for Improving Productivity
- Availability of Cost-Efficient RFID Solutions That Provide High Returns on Investment
- Rising Need for Improving Inventory Management
- Increasing Government Initiatives and Regulations for Safety and Security
- Growing Use of RFID Solutions in Healthcare Organizations to Check Spread of COVID-19
Restraints
- High Initial Cost Associated with Installation of RFID Systems
- Concerns Regarding Data Security and Privacy
Opportunities
- Surging Demand for Hybrid RFID Solutions
- Rising Adoption of RFID Tags for IoT and Smart Manufacturing
- Developing Regions Creating Opportunities for RFID Market
Challenges
- Lack of Backup for Large Volumes of Data
- Supply Chain Disruptions due to COVID-19
Value Chain Analysis
- Revenue Shift and New Revenue Pockets for RFID Market Players
- Market Map/Market Ecosystem
- Price Trend Analysis
- Cost Analysis
- Major Factors Affecting Manufacturing Cost
- Manufacturing Cost Structure Analysis
- Average Selling Price, by Application (Key Players)
Technology Analysis
- RFID Technology Comparison
Case Study Analysis
- RFID in Healthcare: Doseid Consortium Advanced Use of Rain RFID in Healthcare
- RFID in Retail: Vera Bradley Leverages Retail Workforce, Task, and Inventory Solutions for Success
- RFID in Transportation: Forza Cash Logistics Uses Zebra Handheld Mobile Computers to Provide Real-Time Updates and Reduce Errors while Transporting Valuables
- RFID in Logistics: Invengo Empowered Apparel Brand to Achieve Smart Logistics and Warehousing with RFID
- RFID in Agriculture: Cooperatie Hoogstraten Tracks Strawberries from Farm to Table with Rain RFID
- RFID in Food: Caesars Entertainment Gains Real-Time Visibility into Food Safety with RFID Solution from Zebra Technologies
- RFID in Food & Warehousing: Luik Natie Keeps Frozen Foods Ice-Cold with Rain RFID
- RFID in Laundry: Elis Improved Workflows by Automating Laundry Tracking & Sorting
- RFID in Public Library: Smart RFID Experience of Chongqing City Public Library
- RFID in Automotive: Shockwatch RFID Helped Automotive Manufacturer Track Individual Product Damage
- RFID in Airport: Brussels Airport Allows Flyers to Track Their Luggage with Impinj RFID
- RFID in Public Areas: Leading Australian Ski Resort Improves Guest Experience Using RFID from Zebra Technologies
Company Profiles
Key Players
- Zebra Technologies
- Impinj
- Honeywell
- Avery Dennison
- Nxp Semiconductors
- Alien Technology
- Caen RFID
- Gao RFID
- Hid Global
- Invengo
Other Key Players
- Mojix
- Securitag Assembly Group (Sag)
- Linxens
- Checkpoint Systems
- Identiv
- Confidex
- Datalogic
- Nedap
- Thingmagic (Jadak Company)
- Omni-Id
- Infotek Software & Systems Ltd. (I-Tek)
- Bartronics India Ltd.
- Bartech Data Systems Pvt. Ltd.
- Globeranger- a Fujitsu Company
- Orbcomm Inc.
For more information about this report visit https://www.researchandmarkets.com/r/mcdfkw
