San Francisco, California, February 09, 2018: A recent report by TMR Research titled “RFID Tags Market – (Type – Active, Passive; Product Type – Healthcare Tags, Commercial Tags, and Correctional Tags; End-user Industry – Healthcare, Retail, Automotive, Logistics and Transportation, Sports, Wildlife, Telemetry, Livestock, and IT) – The U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025” presents a brief overview of the RFID market in the United States. This comprehensive outline covers prospects for market growth during forecast period, factors responsible for bolstering the market, challenges faced by it, prominent trends, its geographical outreach, and the top sectors which gross maximum revenue.
According to the report prepared by our expert analysts, the U.S. radio frequency identification (RFID) tags market is witnessing substantial growth. A key factor behind this success involves the benefits that these tags provide to a user such as better efficiency of operations, quality product visibility and traceability, reduction in manual processes, and improvement in the reliability quotient. Owing to the rising applications of RFID tags in various areas, their market is expected to soar in the U.S.
Our researchers have pegged it to reach US$1.67 bn by the end of 2025. This valuation is expected to be reached by clocking a CAGR of 8.50% between 2017 and 2025 from an initial figure of US$809.4 mn recorded in 2016.
The U.S. RFID tags market is divided into various segments based on four main criteria: type, end use, product type, and geography. With respect to the product type, correctional tags, healthcare tags, and commercial tags have held the leading spots. Of the three, the commercial tags have been experiencing maximum demand on the back of their high utilization in the retail sector as well as in processes designed to safeguard security of items and documentation. Based on the ‘type’ criteria, the passive RFID tags have always held the top spot with respect to revenue. This is mainly due to their higher efficiency. However, with rapid expansion of security and surveillance domains, the active RFID tags are anticipated to showcase a steady rise in demand during the upcoming years.
RFID tags are extensively used in several applications such as healthcare, retail, automotive, transportation, surveillance and security, and in hordes of others. These tags also find use in other industries such as sports, wildlife, livestock, and information technology industry in the United States.
To a large extent, the competitive scenario in the U.S. market for RFID tags is tough and fragmented. This is mainly due to the existence of numerous players. Our researchers found that the competition in the market is intense yet healthy with players banking on their products having innovative features to outsmart their rivals. They are focusing on better products to stay ahead of the curve in the market. Invengo Information Technology Co. Ltd., Atmel Corp., AMS AG, Omni- ID Ltd., HID USA Corp., NXP Semiconductors N.V., Alien Technology are to name a few of the prominent participants in the U.S. RFID tags market.
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