RFID tags market is predicted to reach a value of $8.88 billion

The radio-frequency identification (RFID) tags market is predicted to reach a value of $8.88 billion in 2022, having increased at a compound annual growth rate (CAGR) of 5.3% since 2015.

 The global radio-frequency identification (RFID) tags market size is expected to grow from $8.88 billion in 2020 to $13.56 billion in 2025 at a rate of 8.8%. The global radio-frequency identification (RFID) tags market growth is then expected to increase at a CAGR of 8.3% from 2025 and reach $20.18 billion in 2030. IoT technology adoption by different industries is expected to drive the RFID tags market in the forecast period.

Technological advancements are an inevitable dimension driving improvements in RFID tags. For instance, in September 2020, Avery Dennison, a US-based producer and seller of RFID tags, launched its dual-technology AD-362r6-P inlay in a single die-cut label. The tag combines item-level tracking with the digital ID capabilities of a high-performance RAIN RFID (UHF) tag suitable for a wide range of retail apparel products and applications with the secondary loss prevention functionality of an Electronic Article Surveillance (EAS) tag.