The Radiofrequency Identification (RFID) Tags Global Market Report 2023, provides comprehensive information on the radiofrequency identification (RFID) tags market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Radiofrequency Identification (RFID) Tags Market’s Growth:
As per The Business Research Company’s Radiofrequency Identification (RFID) Tags Global Market Report 2023, the global radiofrequency identification (RFID) tags market size will grow from $10.3 billion in 2022 to $11.46 billion in 2023 at a compound annual growth rate (CAGR) of 11.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the radiofrequency identification (RFID) tags is expected to grow to $15.72 billion in 2027 at a CAGR of 8.2%.
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RFID companies are increasingly implementing advanced technologies such as IoT and Big Data which is a growing trend in the market. 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, in February 2020, Omni-ID, a US-based company operating in passive industrial radio frequency identification (RFID) tags, introduced a new range of Bluetooth Low Energy (BLE) and Long Range (LoRa) enabled IoT devices that utilize a comprehensive set of sensors with the ability to transmit situational and status data using Radiofrequency Identification (RFID) tags to enhance asset Management & Logistics process in an organization.
The radiofrequency identification (RFID) tags market is segmented:
1) By Tag Type: Active RFID, Passive RFID
2) By Material: Plastic, Paper, Glass, Other Materials
3) By Frequency: Low Frequency, High Frequency, Ultra High Frequency
4) By Application: Agriculture, Retail And Wholesale, Healthcare, BFSI, Transpiration And Logistics, Education, Other Applications
North America was the largest region in the radiofrequency identification (RFID) tags market in 2022.
The table of contents in TBRC’s radiofrequency identification (RFID) tags market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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