RFID Tag Market Key Players, Trends, Growth Opportunities and
Industry Forecast till 2022
“RFID tag market is driven by factors like increasing need
for prevention of theft, growing need for tracking
shipment in the real-time scenario.”
Global RFID tag market is anticipated to grow at a substantial CAGR of 22.1% in the coming years due to
increasing need for effectual supply chain management on the global scale. RFID (radio-frequency identification)
tags are used for storing information on the tag attached to any object and it builds up a tracking system that
use smart barcodes to recognize products. They are basically used for merchandise purpose, but can also be
effectively used for transport and also patients suffering from Alzheimer’s disorder.
RFID tag market is driven by factors like increasing need for prevention of theft, growing need for tracking
shipment in the real-time scenario. Moreover, increase in demand for RFID tags from transport, logistic &
aerospace industry and integration of big data platforms and IoT with RFID tags in various devices boosts the
market growth. Conversely, device interoperability and significant cost of installation of RFID systems are
hampering the market growth.
RFID tags are compatible with the current infrastructure which help organizations to save cost of installing
newer systems. This condition helps manufacturers to reduce the price of RFID tags, which is one of the
prevailing trends in the market. Moreover, potential demand from the healthcare industry is building greater
opportunities in RFID tag market.
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