Delivered October 24, 2019. Contributor: Hanine K.
To identify what roles/jobs titles buyers of passive RFID tags/solutions fill, the audience for passive RFID solutions, and information on what the buyers journey looks like.
RFID Tags: Market Insights
The global RFID Tags market size was $4.6 billion in 2016. Growing at a CAGR of 14.5 % from 2017 to 2024, the market size is projected to reach $13.65 billion by 2024.
Passive RFID tags segment generated the highest revenue share of $3.25 billion in 2016, growing at a CAGR of 13.8%.
"Among major regions, North America RFID tags market was the highest revenue generating market valued at $1.88 billion in 2016. It is would grow with a CAGR of 12.4% during the forecast period of 2017-2024."
Asia Pacific RFID Market is expected to witness the highest CAGR of 16.4% between 2017-2024.
The RFID label market segment market size was $2.02 billion in 2016
RFID Tags: Key Players
The key players of the global RFID tag market are "Zebra Technologies Corp., Omni-Id, Inc.,Impinj, inc., Smartrac N.V, Alien Technology, LLC, Confidex-OY, Honeywell International, Invengo Information Technology Co. Ltd.,Wavetrent, Ltd. and NXP Semiconductors Netherlands B.V."
In 2018, the total RFID market size was $11.0 billion, and is expected to reach $13.4 Billion in 2022. "This includes tags, readers and software/services for RFID labels, cards, fobs and all other form factors, for both passive and active RFID."
About 16.4 billion tags will be sold in 2018 versus 15.0 billion in 2017. "Most of that growth is from passive UHF RFID (RAIN RFID) labels. However, in 2018 UHF (RAIN RFID) tag sales by value will only be 20% of the value of HF tag sales (including NFC), mainly because HF tags where used for security (such as payments, access etc) have a higher price point versus the cheaper, usually disposable UHF (RAIN) tags used for tagging things."
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