RFID Tags Market Size Is Projected To Reach $15 Billion By 2032 Zebra Technologies, GAO RFID Incorporated

(MENAFN- EIN Presswire) OREGAON, PORTLAND, UNITED STATES, July 10, 2024 /EINPresswire / -- As per the report published by Allied market Research Titled "RFID Tags Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (Active Tags, Passive Tags), by Frequency (Low Frequency, High Frequency, Ultra High Frequency), by Application (Agriculture, Animal Tracking, Commercial, Healthcare, Logistics and supply Chain, Retail, Security and Access Control, Transportation, Others): Global Opportunity Analysis and industry Forecast, 2023-2032"

The global RFID tags market was valued at $5.9 billion in 2022, and is projected to reach $15 billion by 2032, growing at a CAGR of 9.9% from 2023 to 2032.

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In recent years, RFID tags have rapidly become a part of individuals' daily lives. They have emerged as powerful tools for various industries offering a wide range of applications including inventory management, supply chain management, asset tracking and management, authentication purposes, and many more. These are small electronic devices that use radio frequencies to transmit data. They are implanted in clothing or other products to track objects throughout a supply chain. These devices are widely used in tracking inventory in warehouses and monitoring the movements of livestock. In this blog, we are going to discuss the latest developments in RFID technology, benefiting industries with automated data capture and instant scanning.

Key Segmentation
The RFID tags market is segmented on the basis of application, type, and frequency and region. The report offers an in-depth study of every segment, which helps market players and stakeholders to understand the fastest growing segments and highest grossing segments in the market.

Based on type, the passive tags segment accounted for more than three-fifths of the total revenue in the global RFID tags market in 2022, and it is expected to continue its dominant position throughout the forecast period due to its cost-effectiveness, versatility, and suitability for a wide range of applications. Passive RFID tags are more affordable to deploy in large quantities, making them a preferred choice for businesses looking to streamline operations without significant financial investment. However, the active tags segment is expected to experience the fastest CAGR of 12.77% from 2023 to 2032.

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The market study further promotes a sustainable market scenario on the basis of key product offerings. On the other hand, Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network. The report provides an explicit global market breakdown and exemplifies how the opposition will take shape in the new few years to come. Rendering the top ten industry players functional in the market, the study emphasizes on the policies & approaches integrated by them to retain their foothold in the industry.

The analysis highlights the highest revenue generating and fastest growing segments. These insights are helpful in devising strategies and achieving a sustainable growth. The RFID tags market is studied on the basis of different segments including type, applications, and region. This makes the study well organized and resourceful along with promoting easy understanding. The report a comprehensive data based on each segment of the RFID tags market.

Key Players Mentioned in the RFID tags Market Research Report:
Impinj, Inc., NXP Semiconductors N.V., Honeywell International Inc., Alien Technology Corporation, Invengo Information Technology Co. Ltd., Identiv, Inc., Zebra Technologies Corp., GAO RFID Incorporated, AVERY DENNISON CORPORATION, HID Global Corporation.

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The increase in the development of more secure, durable, and adaptable tags for a wide range of applications is predicted to foster the growth of the global RFID tags industry in the coming era. Moreover, the rapid adoption of digitization and automation across businesses is anticipated to create wide opportunities for the sector in the years to come.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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