Dublin, March 22, 2021 (GLOBE NEWSWIRE) -- The "RFID Market with COVID-19 Impact Analysis by Product Type (Tags, Readers, and Software and Services), Wafer Size, Tag Type (Passive Tags and Active Tags), Frequency, Applications, Form Factor, Material, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global RFID market size is estimated to be USD 10.7 billion in 2021 and is projected to reach USD 17.4 billion by 2026, at a CAGR of 10.2% during the forecast period.
The market has a promising growth potential due to several factors, including growing market competitiveness leading to the availability of cost-effective RFID solutions, high returns on investment, and increasing regulations and government initiatives for various industries. Moreover, increasing installation of RFID systems in manufacturing units to improve productivity due to COVID-19 could play a key role in driving the growth of the RFID market.
Tags are projected to be the largest segment of the RFID market during the forecast period
The tags are projected to be the largest segment of the RFID market, by products. Tags are the key components in an RFID solution and make up for the major part of the market due to bulk and multiple applications. Due to this, the segment captured the largest share of the market in 2020. The number of tags installed is much higher than the number of readers and software used in the RFID ecosystem of an organization. Additionally, with the rising number of assets, the installation of tags increases; however, existing readers can be used to scan new tags. This is the main reason due to which the market for tags is the largest.
Passive tags segment is projected to register a larger market share by 2026
The passive tags segment is projected to register a larger market share by 2026. The market for passive tags is expected to grow in applications such as retail, supply chain, transportation, aerospace, and sports. The factors contributing to the growth of passive tags in these applications are the low cost of tags and their increasing precision in data storage and reading distance. The penetration of RAIN RFID has further boosted the market of ultra-high-frequency passive tags, as this frequency is globally adaptable by manufacturers and customers. This is another key reason for the growth of the RFID market for passive tags.
Ultra-high-frequency (UHF) tags segment of the RFID market is projected to register the highest CAGR during the forecast period
The ultra-high-frequency (UHF) tags segment of the RFID market is projected to register the highest CAGR during the forecast period. UHF RFID tags offer the longest read range and highest reading speed among all frequencies. UHF passive tags can be read from an average distance of about 5-6 meters; larger UHF passive tags can be read from more than 30 meters in ideal conditions. Active tags have the longest read range of around 150 meters. These tags are more efficient than low- and high-frequency tags. Passive UHF tags are also less costly than low- and high-frequency tags. This is the key reason for customers preferring passive UHF tags.
Logistics and supply chain application is projected to grow at the highest CAGR during the forecast period
The logistics and supply chain application is projected to grow at the highest CAGR during the forecast period. The growth of this segment is contributed to the high adoption of tracking systems by logistics organizations to track and monitor their cargo in transit through air, road, or sea. Companies are also using sensor-based RFID tagging systems to monitor environmental conditions around the products being transported. Any deviation in the properties or external parameters is notified to the stakeholders, and appropriate action can be taken to prevent the damage.
APAC is projected to become the fastest geographical market between 2021 and 2026
The APAC is projected to grow at the highest CAGR during the forecast period. With the growing trade network among the countries in APAC, companies are leveraging RFID solutions to obtain visibility into supply chain operations. RFID is an ideal medium for tracking assets or people in organizations in real-time. The adoption of RFID solutions across various industries, such as manufacturing, sports & entertainment, logistics and supply chain, and retail, is expected to increase in APAC during the forecast period.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
3.1 Pre-COVID-19 Scenario
3.2 Pessimistic Scenario (Post-COVID-19)
3.3 Optimistic Scenario (Post-COVID-19)
3.4 Realistic Scenario (Post-COVID-19)
4 Premium Insights
4.1 Attractive Growth Opportunities in Rfid Market
4.2 Rfid Tag Market, by Form Factor
4.3 Rfid Tag Market, by Material
4.4 Americas: Rfid Tag Market, by Application & Country
4.5 Rfid Tag Market, by Country
5 Market Overview
5.1 Introduction
5.2 History and Evolution
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Installation of Rfid Systems in Manufacturing Units to Improve Productivity Due to COVID-19
5.3.1.2 Growing Market Competitiveness Leading to Availability of Cost-Effective Rfid Solutions
5.3.1.3 High Returns on Investment
5.3.1.4 Increasing Regulations and Government Initiatives for Various Industries
5.3.1.5 Ability of Rfid Solutions to Help Healthcare Organizations Check Spread of COVID-19
5.3.2 Restraints
5.3.2.1 Concerns Regarding Data Security and Privacy
5.3.2.2 High Purchase, Installation, and Maintenance Costs
5.3.3 Opportunities
5.3.3.1 Rising Need for Contact-Tracing Solutions Due to COVID-19
5.3.3.2 Growing Trend of Hybrid Rfid Solutions
5.3.3.3 Rising Adoption of Rfid Tags for Industry 4.0, IoT, and Smart Manufacturing
5.3.3.4 Soaring Demand for Rfid Solutions in Developing Regions
5.3.4 Challenges
5.3.4.1 Lack of Backend Support for Large Volumes of Data
5.3.4.2 Lack of Awareness About Rfid Solutions and Expert Workforce
5.3.4.3 Supply Chain Disruptions Due to COVID-19
5.4 Average Selling Price Trend
5.4.1 Cost Analysis
5.4.1.1 Major Factors Affecting Manufacturing Cost
5.4.1.2 Manufacturing Cost Structure Analysis
5.4.1.3 Basic Cost Breakdown of Tags by Frequency
5.4.2 Profit Margin Analysis
5.5 Value Chain Analysis
5.5.1 Equipment and Component Manufacturers
5.5.2 Connectivity Technology Providers
5.5.3 Rfid Hardware and Software Providers
5.5.4 System Integrators and Service Providers
5.5.5 End Use
5.6 Market Map
5.7 Trends/Disruptions Impacting the Business of Customers
5.7.1 Revenue Shifts and New Revenue Pockets for Rfid Market
5.8 Technology Analysis
5.8.1 Rfid Technology Comparison
5.8.2 Rfid Technology Node Analysis
5.9 Case Study Analysis
5.9.1 Syngenta Selects Corerfid for Automated Solution
5.9.2 Mx Group Selects Corerfid for Rfid Solution
5.9.3 Adidas Selects Nedap for Rfid Reader Solution
5.9.4 Drmp Selects Zebra Technologies for Rfid Technology
5.10 Patent Analysis
5.11 Regulatory Analysis
5.11.1 US
5.11.2 Canada
5.11.3 Europe
5.11.4 Indonesia
5.11.5 India
5.12 Trade Data
6 Rfid Market, by Product
6.1 Introduction
6.2 Tags
6.2.1 Tags Accounted for Largest Share of Rfid Market in 2020
6.3 Readers
6.3.1 Fixed Readers
6.3.1.1 Ruggedness and Cost-Effectiveness of Readers Primarily Drive Fixed Readers Market
6.3.2 Handheld Readers
6.3.2.1 Handheld Readers Are Adopted Mainly Due to Their Mobility
6.4 Software and Services
6.4.1 Recurring Requirement of Services and Growing Adoption of Cloud-Based Models for Data Analysis Would Drive Software and Services Market
7 Rfid Market, by Tag
7.1 Wafer Size
7.2 Tag Type
7.2.1 Passive Tags
7.2.1.1 Passive Tags to Account for a Larger Share of Rfid Tag Market by 2026
7.2.2 Active Tags
7.2.2.1 Benefit of Real-Time Monitoring of Assets is Expected to Boost Active Tag Market
7.3 Frequency
7.3.1 Low Frequency
7.3.1.1 Animal Tagging, Access Control, and Ticketing Applications Are Mainly Contributing to Growth of Low-Frequency Segment
7.3.2 High Frequency
7.3.2.1 Retail, Security, and Supply Chain Applications Are Mainly Contributing to Growth of High-Frequency Segment
7.3.3 Ultra-High Frequency (Uhf)
7.3.3.1 Passive Ultra-High-Frequency Tags to Contribute More Than Active Ultra-High-Frequency Tags in Market Growth
7.4 Application
7.5 Form Factor
7.6 Material
8 Geographic Analysis
8.1 Introduction
8.2 Americas
8.3 Europe, Middle East, and Africa (EMEA)
8.4 APAC
9 Competitive Landscape
9.1 Overview
9.2 Market Evaluation Framework
9.3 Market Share Analysis (Top 5 Players)
9.3.1 Market Share Analysis for Handheld Devices (5 Key Players)
9.4 Historical 5-Year Revenue Analysis
9.5 Company Evaluation Matrix
9.5.1 Star
9.5.2 Emerging Leader
9.5.3 Pervasive
9.5.4 Participant
9.6 Competitive Benchmarking
9.6.1 Strength of Product Portfolio (20 Companies)
9.6.2 Business Strategy Excellence (20 Companies)
9.7 Startup/SME Evaluation Matrix
9.7.1 Progressive Companies
9.7.2 Responsive Companies
9.7.3 Dynamic Companies
9.7.4 Starting Blocks
9.8 Competitive Scenario
9.8.1 Product Launches and Developments
9.8.2 Partnerships and Collaborations
9.8.3 Acquisitions and Expansions
10 Company Profiles
10.1 Introduction
10.2 Key Players
10.2.1 Zebra Technologies
10.2.2 Alien Technology
10.2.3 Caen Rfid
10.2.4 Impinj
10.2.5 Honeywell
10.2.6 Avery Dennison
10.2.7 Nxp Semiconductors
10.2.8 Gao Rfid
10.2.9 Hid Global
10.2.10 Invengo
10.3 Other Companies
10.3.1 Mojix
10.3.2 Securitag Assembly Group (Sag)
10.3.3 Linxens
10.3.4 Checkpoint Systems
10.3.5 Identiv
10.3.6 Confidex
10.3.7 Datalogic
10.3.8 Nedap
10.3.9 Thingmagic (Jadak Company)
10.3.10 Omni-Id
11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Available Customizations
11.4 Related Reports
11.5 Author Details
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