The global radio-frequency identification (RFID) tags market is expected to grow from $10.53 billion in 2020 to $12.21 billion in 2021 at a compound annual growth rate (CAGR) of 16%.
The change in growth trend in the RFID tags market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The RFID tags market is expected to reach $18.94 billion in 2025 at a CAGR of 11.6%.
North America was the largest region in the radio-frequency identification (RFID) tags market in 2020. The regions covered in the RFID tags market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of radio-frequency identification tags are active RFID and passive RFID. The active RFID tags are battery-powered sensor tags that connect to various access points throughout an area (such as a building) and transfer data to the cloud. Active RFID is frequently used in real-time location tracking. The different materials include plastic, paper, glass, others and operate in various frequencies such as low frequency, high frequency, ultra-high frequency. These are used in several applications including agriculture, retail and wholesale, healthcare, BFSI, transpiration and logistics, education, and others.
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