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Market Insight- U.S. RFID Tags Market

Market Overview

Radio-frequency identification (RFID) also referred to as RFID transponder is a technology used for automated identification of objects, animals, vehicles, people, and other materials. RFID tags are small radio frequency identification devices used for tracking and identification purposes. These tags are specifically built of an integrated circuit (IC) comprised of an antenna, thin-film, and memory. The RIFD tags store the product’s memory in electronic product code (EPC), which can be tracked and read by RFID readers. Furthermore, RFID tags are classified into two types on the basis of the source of the power namely active RFID and passive RFID. The active RFID makes the use of battery power for the transition of signals to the reader.

The U.S. RFID Tags market was valued for US$ 1,011.3 Mn in 2019 is expected to exhibit a CAGR of 9.0% during the forecast period

Market Dynamics- Drivers

  1. Rising interest of retail sector in RFID technology is expected to drive growth of the U.S. RFID tags market during the forecast period

The retail sector is increasingly adopting RIFD technology due to enterprises wanting to achieve greater visibility and speed into their supply chains. Moreover, the sector is focused on store effectiveness and operational efficiency. An effective supply chain ensures that the goods are delivered at the scheduled time and designated place. RIFD offers various advantages including reduced labor costs, low inventory maintenance, and increased sales. Thus, these factors are expected to drive growth of the U.S. RFID tags market during the forecast period.

  1. Advent of automated toll booth payment with RFID is expected to propel the U.S. RFID tags market growth over the forecast period

Transportation systems and infrastructure play a crucial role in economic development of a country. Efficient transport systems offer numerous social and economic benefit including increasing employment, better accessibility to market, and additional investments. This, in turn, makes it critical for the transportation industry to adapt rapidly with technological advancements. Automatic toll collection utilizing RFID allows automated electronic collection of toll costs. Moreover, RFID technology has increased the productivity of automated toll boot payments. Customers can drive their vehicle straight through a toll booth without queuing up the financial transactions and paying for toll fees manually. The toll fee is automatically deducted when a commuter passes. Therefore, these factors are expected to propel the market growth over the forecast period.

Market Dynamics- Restraints

  1. Extensive base of barcode systems is expected to hinder the U.S. RFID tags market growth over the forecast period

Barcode technology has been extensively installed in many end-use verticals due to low cost and ease of operation. Most of the stakeholders of distribution channels have installed a base of barcode systems to facilitate integrated inventory management. Although RFID technology is more efficient and effective than barcodes, many organizations are reluctant in investing capital in replacing existing barcode technology. Unlike barcodes, there is no requirement for visual content for the reader to read tags. Furthermore, RFID tags can store relatively more information than barcode labels. Thus, these factors are expected to hinder the market growth in the near future.

  1. Issues regarding privacy policy are expected to hamper the U.S. RFID tags market growth over the forecast period

One of the major challenges for adoption of RFID tags is the possibility of affecting privacy of customers. An RFID tag utilized for inventory tracking purposes may only contain information about that product. However, there is a possibility of computer system to link the product data with customer’s personal data, collected with every debit, loyalty, or credit card swipe, thus creating a detailed profile of customer’s buying habits. This can hamper the market growth in the near future.

Market Opportunities

  1. Inclusion of RFID chips in passports and visas can provide major growth opportunities

Governments of many countries are contemplating including RFID chips into passports and visas. These countries are also reforming and changing their migration and immigration legislation to curb illegal immigration. Since the conventional methods of paper-only visas have become obsolete and easy to forge, criminals have various ways to flee the country. The government of the U.S has been at the forefront of pushing the technology. Many security policies have been changed and reviewed in response to the terrorist attacks of 2001. Inclusion of RFID technology in passports and visas can enhance security, making impossible for a person to falsify identity. A person may change the photograph on the passport, but would not be able to change the fingerprints to match forged fingerprints contained on memory chips.

  1. Advent of RFID asset tracking system is expected to present lucrative growth opportunities

RFID technology is rapidly replacing ScanCode technology for asset tracking and inventory management. Since RFID is fast, reliable, and secure, it is beneficial for organizations to adopt RFID-based solutions. The most compelling advantage is the tremendous gain in ROI (Return on Investment) by replacing all manual components for inventory management and asset tracking. These features of RFID tags can provide lucrative opportunities over the forecast period.

U.S. RFID Tags  | Coherent Market Insights

Source: Coherent Market Insights

Market Trends

  1. Growing use of RFID technology in the healthcare sector

RFID finds major applications in healthcare sector namely in pharmaceutical industry, employing RFID enables the end-user to identify altered dosage and expiry date of medication. Moreover, it allows customers to monitor when and where the products and manufacturing. Thus, RFID can curb illegal activities of some companies and save lives of many. RFID can also be used in tracking medical products and equipment and newborn babies as well as medical records of patients. For instance, if a patient suffers from loss of memory or Alzheimer's, or if the patient is diabetic and experiences diabetic coma, RFID technology presents significant information to the practitioner in order to offer proper care by scanning the wristband of patient that contains the RFID chip. In October 2004, the US Food and Drug Administration (FDA) approved the first RFID tag to be utilized on humans.

  1. Advancements in RFID technology to improve its usage

In the recent past, North America has started increasingly adopting RFID technology. This is owing to increasing technological advancements in RFID tags as well as a high manufacturing rate of the tags due to increasing usage of RFID technology in many sectors. Moreover, many companies are major focused on presenting integrated targeted software platforms across supply chain and into the store along with RFID tags its readers to offer a better solution to the customers.

Segment information:

In U.S. RFID Tags market, by type segment, passive sub segment dominated the U.S. market in 2019, accounting for 68.9% share in terms of value

U.S. RFID Tags  | Coherent Market Insights

Source: Coherent Market Insights

Value Chain Analysis

U.S. RFID Tags  | Coherent Market Insights

Competitive Section

Key players operating in the U.S. RFID tags market are RF Code Inc., HID The U.S. Corporation, AMS AG, Omni- ID Ltd., Impinj Inc., NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., and Confidex Ltd.

Key Developments

  1. Key players operating in the market are focused on product launches, in order to enhance the product portfolio. For instance, in Mach 2017, Alien Technology Corporation launched two new products in UHF passive RFID tag reader antennas.
  2. Major companies are involved in product launches, in order to expand the product portfolio. For instance, in February 2017, Invengo Information Technology Co., Ltd. introduced slimmest UHF RFID tag to track linen materials. This RFID is expected to be one of the breakthrough towards retail RFIDs.

Radio-frequency identification (RFID) is a type of wireless communication technology that uses radio waves to track identification of objects, animals, vehicles, people, and other materials. An RFID tag is composed of a tiny radio transponder, transmitter, and a radio receiver. When the tag is triggered by electromagnetic pulses from RFID reader, the tag transfers digital data back to the reader. RFID tags are classified into two types on the basis of the source of power i.e. active RFID and passive RFID. Active RFID uses battery power to transfer signals to reader and passive tags do not possess inbuilt power source and function on power from an RFID reader. RFID tags function on a designated range of frequencies such as Low Frequency, High Frequency (HF), Ultra High Frequency and microwave. Moreover, RFID tags offer benefits such as increased operational efficiency, minimize pressure on manual process, deceased cost and increased reliability are some factor increased the demand of U.S. RFID tags market.

Market Dynamics

Growing adoption of RFID technology in aerospace and health sectors are the factors driving the growth of U.S. RFID Tags market during the forecast period. Most of the companies such as Airbus, Boeings and US Department of Defense are adopting RFID technologies which increases the demand of this market. RFID tags are used for enhancing supply chain visibility, tracking, maintenance, asset management and utilization, work in progress and many other manufacturing processes. Moreover, the automation in healthcare industry has increased the efficiency, minimizes the cost and provides more reliable & accurate data. RFID tags are used to track medical records of a patient in the healthcare industry, while they are used in tool booths in the transportation industry. Moreover, RFID has been used in retail and warehouse sectors for material identification management. Thus, growing adoption of RFID tags in end-use industries is expected to boost the U.S. RFID tags market growth over the forecast period.

Adoption of RFID technology in retail sector is the factor also driving growth of the U.S. RFID tags market during the forecast period. The retail sector is increasingly adopting RIFD technology due to enterprises wanting to achieve greater visibility and speed into their supply chains. Moreover, the sector is focused on store effectiveness and operational efficiency. An effective supply chain ensures that the goods are delivered at the scheduled time and designated place. RIFD offers various advantages including reduced labor costs, low inventory maintenance, and increased sales. Thus, these factors are expected to drive growth of the U.S. RFID tags market during the forecast period.

Market Taxonomy

This report segments the U.S. RFID tags market on the basis of by type, by product type, and by end-use industry. On the basis of type, the U.S. RFID tags market is segmented into Active RFID and Passive RFID. On the basis of product type, U.S. RFID tags market is segmented into Healthcare tags, Commercial tags, Correctional tags and others. On the basis of end-use industry, U.S. RFID tags market is segmented into Healthcare, Retail, Automotive, Logistics and Transportation, Surveillance and Security and Others (Sports, Wildlife, Livestock, and IT).

Key features of the study:

  • This report provides an in-depth analysis of the U.S. RFID tags market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
  • It profiles leading players in the U.S. RFID tags market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered in the U.S. RFID tags market include RF Code Inc., HID The U.S. Corporation, AMS AG, Omni- ID Ltd., Impinj Inc., NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., and Confidex Ltd.
  • These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
  • The U.S. RFID tags market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the U.S. RFID tags market.

Detailed Segmentation:

  1. S. RFID Tags Market, By Type
    • Active RFID
    • Passive RFID
  2. S. RFID Tags Market, By Product Type
    • Healthcare tags
    • Commercial tags
    • Correctional tags
    • Others
  3. S. RFID Tags Market, By End-use Industry
    • Healthcare
    • Retail
    • Automotive
    • Logistics and Transportation
    • Surveillance and Security
    • Others (Sports, Wildlife, Livestock, and IT)
  4. Company Profiles
    • RF Code Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • HID The U.S. Corporation
    • AMS AG
    • Omni- ID Ltd.
    • Impinj Inc.
    • NXP Semiconductors N.V.
    • Alien Technology
    • Invengo Information Technology Co., Ltd.
    • Confidex Ltd

*Browse all the market data tables and figures on “U.S. RFID Tags Market- Forecast to 2027”

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Type
      • Market Snippet, By Product Type
      • Market Snippet, By End-use Industry
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Regulatory Scenario
    • Industry Trend
    • Merger and Acquisitions
    • New system Launch/Approvals
  4. U.S. RFID Tags  Market, By Type, 2017-2027  (US$ Million )
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Active RFID
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Passive RFID
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  5. S. RFID Tags Market, By Product Type, 2017-2027  (US$ Million  )
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Healthcare tags
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Commercial tags
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Correctional tags
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  6. S. RFID Tags Market, By End-use Industry, 2017-2027  (US$ Million )
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Segment Trends
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Automotive
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Logistics and Transportation
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Surveillance and Security
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
    • Others (Sports, Wildlife, Livestock, and IT)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
      • Introduction
      • Market Size and Forecast, 2019–2027, (US$ Million)
  7. Competitive Landscape
    • Company Profiles
      • RF Code Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • HID The U.S. Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • AMS AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Omni- ID Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Impinj Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • NXP Semiconductors N.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Alien Technology
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Invengo Information Technology Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Confidex Ltd Spark Cognition Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on “U.S. RFID Tags Market-forecast to 2027”.

Frequently Asked Questions

The U.S. RFID tags market is estimated to reach US$ 2,009.0 million by 2027.
Major players operating in the U.S. RFID tags market include RF Code Inc., HID The U.S. Corporation, AMS AG, Omni- ID Ltd., Impinj Inc., NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., and Confidex Ltd.
Extensive base of barcode systems is one of the major factors that is expected to hamper growth of the market over the forecast period.
Rising interest of retail sector in RFID technologyis one of the major factors that is expected to propel growth of the market over the forecast period.
The U.S. RFID tags market isestimated to exhibit a CAGR of 9.0% during the forecast period (2019-2027).
Rising adoption of RFID technology in the healthcare sector is one of the major trends that has been observed in the market.
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