RFID Tags Manufacturing Companies Form Strategic Acquisitions To Capture Synergies

The global radio-frequency identification tags market size 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 size is expected to reach $18.94 billion in 2025 at a CAGR of 11.6%.

The radio-frequency identification (RFID) tags market is fragmented with a large number of players. The key players in the market are focusing on expanding their business and geographical presence in the market through strategic acquisition, new product launches and new manufacturing facility establishments.

The top ten competitors in the market made up to 14.7% of the total market in 2020. Major players in the radiofrequency identification tags market are Avery Dennison, Zebra Technologies, Honeywell, NXP Semiconductors, Impinj Inc., Invengo Technology Pte. Ltd., ams AG, Atmel Corp, Alien Technology, Smartrac N.V., GAO RFID Inc., The Tag Factory, and MOJIX.