RFID Tags Market Share, Growth, Trends and Forecast (2027)

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RFID Tags Market: Information by Frequency (Low Frequency, High Frequency, And Ultra-High Frequency), Standard (ISO 14443, ISO 18000-3, ISO 18000-6, and ISO 15693), Application (Transportation, Agriculture, Logistics, Healthcare, Aerospace, Retail), Region (North America, Europe, Asia Paci

According to the latest research, the global RFID tags market size is expected to exhibit a significant CAGR of 7.6% along with the market size of USD 6.74 billion during the forecast period 2021-2028.

RFID (Radio Frequency Identification) tags are the labels attached to the product in the packaging industry using radio-frequency identification technology. The tags include the electronically stored information which is attached to the products, animals, or even human beings. RFID tags are designed for replacing the bar codes, improving supply chain transparency, enhance the effectiveness and efficiency of the supply chain. Compared to the barcodes, these tags can be read wirelessly, with the absence of line of sight, are more robust, and includes more information. This technology can identify if more people gathered at a point.

RFID tags are attached to the movable assets in various industries such as tools, manufacturing equipment, and process components for tracking them in a process. They also understand the lifecycle of manufacturing equipment. The rising usage and adoption of RFID tags in manufacturing and consumer goods are expanding the market growth. Moreover, the combination of RFID tags and sensor solutions in the manufacturing facility like tanks, pipes, cameras, boilers, etc shows you the manufacturing process output and quality. Manufacturers are favored using this RFID technology in plant asset management. Growing usage of security measures and package protection is predicted to propel market trends. RFID solutions penetration enhances the growth of the market.

The RFID tags market opportunities are the widespread use of RFID technology in retail, logistics, and supply chain applications, the introduction of new products, and partnerships boosting the market growth.

Read more@ https://www.marketresearchfuture.com/reports/rfid-tags-market-2008

Industry News

As per the latest research, the global RFID tags market forecast is anticipated to reach immense growth due to product launches, mergers, acquisitions, investments, etc. NXP Semiconductors in June 2020 launched the MIFARE DESFire EV3 IC that includes high security, next-generation performance, and seamless integration of mobile services for enabling security and connectivity in smart city services. This is a backward-compatible that has a high operating distance and a faster transaction speed.

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