Yahoo Finance The RFID market is projected to reach USD 35.6 billion by 2030 from USD 14.5 billion in 2022; it is expected to grow at a CAGR of 11.9% from 2022 to 2030
The RFID market has been segmented by product, tag, and region. The tag subsegment is further divided into wafer size, tag type, frequency, application, form factor, and material.
New York, June 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "RFID Market by Offering, Tag Type, Wafer Size, Frequency, Form Factor, Material, Application & Region - Global Forecast to 2030" - https://www.reportlinker.com/p04975552/?utm_source=GNW
Product launches and developments were the key strategies adopted by the leading players in the market from January 2018 to May 2022.Other strategies adopted by the players to grow in the market during this period were partnerships and collaborations, acquisitions, and expansions.
The RFID market is witnessing a rise in demand for hybrid solutions.Hybrid solutions have been designed to overcome some of the challenges associated with a single technology-based RFID system.
A hybrid solution not only helps end users deploy RFID technology at blind spots but also helps reduce infrastructure requirements by utilizing existing technologies such as Wi-Fi or GPS. RFID-based IoT solutions are gaining momentum as multiple forces drive their adoption. The declining cost of RFID tags, widely accepted IP networks, and new business opportunities contribute to the rising demand for RFID-based IoT solutions. These solutions help track physical assets to improve business processes and cost-efficiencies in many industries and government organizations. The major players in the RFID market include Zebra Technologies (US), Alien Technology (US), CAEN RFID (Italy), Impinj (US), Avery Dennison (US), Honeywell (US), NXP Semiconductors (Netherlands), GAO RFID (Canada), HID Global (US), Invengo (China), Infotek Software & Systems (P) Ltd (i-TEK) (India), Bartronics India Ltd. (India), Bartech Data Systems Pvt. Ltd., Bar Code India Ltd. (BCI) (India), ORBCOMM Inc. (US), GlobeRanger (US), Mojix (US), Securitag Assembly Group (SAG) (Taiwan), Linxens (France), Checkpoint Systems (US), Identiv (US), Confidex (Finland), Datalogic (Italy), Nedap (Netherlands), ThingMagic (Jadak Company) (US), and Omni-ID (US).
The 8 Inch wafer size segment is holds the highest market in 2021
The 8-inch wafer size segment held the largest market share in 2021.The 8-inch or 200 mm wafers are the most-produced wafers.
The top three players in the market—Alien Technologies, Impinj, and NXP—use 8-inch wafers for chip production.Many players are reluctant to shift to 12-inch wafers as it incurs a huge amount of investment for equipment.
The market for other wafer sizes is expected to grow in the coming years with the expected reduction in the prices, mostly of 12-inch wafers.This will bridge the gap between 8-inch and 12-inch wafers, and, in turn, help in the smooth transition of the industry to 12-inch wafers.
In late 2016, NXP started providing 12-inch wafers for long-range RFID chips in addition to 8-inch wafers. This has significantly increased the supply capacity of NXP, improved assembly quality and efficiency, and, most importantly, reduced the manufacturing waste and electricity needs. Avery Dennison was the first player to provide inlays with the new 12-inch offerings of NXP.
The ultra-high frequency segment, of RFID tags market by frequency is expected to grow at highest CAGR during the forecast period
Ultra-high frequency (UHF) tags can be classified into two types on the basis of frequency range: passive tags and active tags.UHF passive RFID tags offer the longest read range and highest reading speed among all passive tags.
These tags have a frequency range of 860–960 MHz.This frequency range is commonly referred to as 900 or 915 MHz in terms of single frequency.
Generally, UHF passive tags can be read from an average distance of about 5–6 meters; larger UHF passive tags can read more than 30 meters in ideal conditions.UHF passive tags are generally used for applications requiring a read range of more than 1 meter, such as asset tracking, asset counting, inventory management, supply chain management, vehicle tagging, and manufacturing equipment and product part tagging.
UHF active tags are more efficient than passive UHF tags in terms of reading range, the number of tags connected simultaneously, and continuous monitoring. However, these are much costlier than passive UHF tags. This is the key reason owing to which customers prefer passive UHF tags. Some companies provide semi-passive UFH tags that include a battery, which increases the read range of the passive UFH tags while being less expensive than active UHF tags. This is expected to propel the RFID market for UHF passive tags.
Breakdown of profiles of primary participants:
• By Company Type: Tier 1 = 30%, Tier 2 = 50%, and Tier 3 = 20%
• By Designation: C-level Executives = 25%, Directors = 35%, and Others = 40%
• By Region: North America = 35%, Europe = 30%, APAC = 25%, and RoW = 10%
Research Coverage:
This report segments the RFID Market by Offering, Tag Type (Passive, Active), Wafer Size, Frequency, Form Factor, Material, Application, and Region- Global Forecast to 2030
Reasons to Buy the Report:
• This report includes statistics pertaining to the RFID market based on offering, tag type, wafer size, frequency, form factor, material, application, and region.
• Major drivers, restraints, opportunities, and challenges for the RFID market have been provided in detail in this report
• The report includes illustrative segmentation, analysis, and forecast for the RFID market based on its segments.
Read the full report: https://www.reportlinker.com/p04975552/?utm_source=GNW
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