Global RFID Tag Market Share, Information by Types (Passive, Active and Semi-passive), by End-User (Healthcare, Retail, Automotive, Logistics and Transportation, and Others) and by Region – Forecast To 2023
The use of advanced technology for management of livestock and their transport can drive the demand for RFID tags. Livestock farming among farmers and the unmet demands of protein among health enthusiasts and gym rats can drive the market demand exponentially.
Alien Technology, HID Global Corporation, Tageos, Honeywell International Inc., Impinj, Inc., CoreRFID Ltd, Omni-ID Ltd, GAO RFID Inc., Smartrac N.V., Invengo Information Technology Co. Ltd, Atmel Corporation, NXP Semiconductors N.V., RF Code Inc., Confidex Ltd, and The Tag Factory are key players of the global RFID Tag Market Share,.
The global RFID Tag Market Share has been segmented by type and application.
On the basis of application, the market has been segmented into automotive, logistics and transportation, retail, healthcare, and others. Logistics and transportation sector dominates the end-user segment of the market. RFID-based technologies are widely applied to improve transportation security and safety.
The use of RFID tags in the healthcare sector is swelling rapidly owing to the use of active tags for monitoring and tracking patients in old-age and retirement homes. Surgery asset management, parking, and medication authentication and control are other applications which can drive the demand for RFID tags in the healthcare sector. The global RFID Tag Market Share, can find lucrative opportunities in the sector due to efforts of lowering identity fraud and claims mismanagement.
On the basis of the regions, the global RFID Tag Market Share, has been segmented into Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
APAC is anticipated to grow at the highest CAGR during the forecast period. The remarkable growth in the packaging sector in the region is the main factor driving the growth of the market. Rising industrial expansion, the swelling urban population in developing countries, and use of logistic firms can provide further boost the market. India, China, Japan, Indonesia, and Thailand are the key contributor to Asia Pacific market. China accounts for the largest share of the region mainly due to fast growth in the urbanization and industrial development.
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