The Business Research Company’s Radiofrequency Identification (RFID) Global Market Report 2021 – COVID-19 Implications And Growth
LONDON, GREATER LONDON, UK, September 14, 2021 /EINPresswire.com/ — RFID companies are increasingly implementing advanced technologies such as IoT and Big Data, which is among growing RFID market trends. With the help of IoT, RFID tags can connect objects into a network and make them create and send data. It assists in the real-time monitoring of tagged objects and the creation of a system of connected devices that broadcast information about their position, conditions, and quantities in real-time. For instance, according to Digiteum LLC, a Poland-based software development company report in 2019, the number of connected devices is expected to grow to 200 billion by 2020. Many of these devices will be RFID-enabled and will be found in hospitals, emergency departments, nursing homes, and other healthcare facilities.
The RFID market size 2020 was $10.53 billion, and this global radio frequency identification tags market is expected to grow to $12.21 billion in 2021 at a compound annual growth rate (CAGR) of 16%. The change in growth trend in the RFID tags market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The RFID tags market is expected to reach $18.94 billion in 2025 at a CAGR of 11.6%.
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Major players covered in the global radiofrequency identification (RFID) tags market are Avery Dennison, Zebra Technologies, Honeywell, NXP Semiconductors, Impinj Inc., Invengo Technology Pte. Ltd., ams AG, Atmel Corp, Alien Technology, Smartrac N.V., GAO RFID Inc., The Tag Factory, and MOJIX.
North America was the largest region in the radiofrequency identification (RFID) tags market. The regions covered in the RFID tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
TBRC’s global radiofrequency identification (RFID) tags market report is segmented by tag type into active RFID, passive RFID, by material into plastic, paper, glass, others, by frequency into low frequency, high frequency, ultra high frequency, by application into agriculture, retail and wholesale, healthcare, BFSI, transpiration and logistics, education, others.
Radiofrequency Identification (RFID) Tags Global Market Report 2021 – By Tag Type (Active RFID, Passive RFID), By Material (Plastic, Paper, Glass), By Frequency (Low Frequency, High Frequency, Ultra High Frequency), By Application (Agriculture, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Education), COVID-19 Implications And Growth is one of a series of new reports from The Business Research Company that provides radiofrequency identification (RFID) tags market overview, forecast radiofrequency identification (RFID) tags market size and growth for the whole market, radiofrequency identification (RFID) tags market segments, and geographies, radiofrequency identification (RFID) tags market trends, radiofrequency identification (RFID) tags market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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