Radio-frequency identification (RFID) technology has completely revolutionized the way companies do business. A type of wireless communication technology that uses radio waves to track and identify objects, RFID has minimized the pressure on several manual processes, enhanced the efficiency of operations, reduced costs, increased asset traceability and visibility, and improved reliability.
The U.S. has always been one of the early adopters of new and advanced technologies and RFID tags have found application in several operational processes across the U.S. industrial landscape. A rising number of end-use industries with the need for access management technologies and material identification management has greatly driven the adoption of RFID tags across the U.S. market.
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The report evaluates major market trends and opportunities and assesses their impact on the growth of the U.S. RFID tags market for the period 2017 to 2025. The key reasons for the expansion of this market and those hampering its growth have also been studied and the adoption of various types of RFID tags in different end-use industries are tracked in the report. Effective business strategies adopted by key players, business overview, SWOT analysis, and product offerings also form an integral part of the research report
U.S. RFID Tags Market: Trend and Opportunities
By way of type, the RFID tags market is bifurcated into active and passive tags. The passive tags segment accounts for a major share in the U.S. market and will also register strong growth in terms of revenue over the course of the forecast period. The active tags segment will also exhibit impressive growth through 2025, with key applications in surveillance and security for tracking pallets, containers, and large military assets.
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The main product types include commercial tags, healthcare tags, and correctional tags. In 2016, commercial tags dominated the U.S. market. Healthcare tags are also projected to witness steady growth thanks to their usage in medical devices for tracking purposes. An increasing number of hospitals have been using RFID tags in order to streamline processes, manage threats to medical devices, and automate billing and reporting.
The prominent end-use industries of the RFID tags market include retail, healthcare, automotive, surveillance and security, logistics and transportation, wildlife, sports, IT, and livestock. The logistics and transportation industry is a major end user of RFID tags and the segment is slated to witness considerable growth during the forecast period. In this sector, RFID tags help improve transportation security and safety and enhance the efficiency of the transportation system.
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Companies mentioned in the report
Some of the prominent vendors in the RFID tags market in the U.S. are Invengo Information Technology Co., Ltd., AMS AG, NXP Semiconductors N.V., RF Code, Alien Technology, Confidex Ltd., HID USA Corporation, Impinj Inc., Atmel Corp, and Omni- ID Ltd. Most RFID tag makers are investing in the development of new and advanced solutions that can satisfy varying end-user requirements. They are also adopting a number of strategies such as mergers and acquisitions, product development, and investments in research and development to expand their market share and stay ahead of the competition.
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