Radiofrequency identification (RFID) tags have gathered immense acceptance over the past few decades, due to several factors, comprising flexibility, low power requirement, and location support. RFID tags are broadly utilized across a host of industrial segments, such as oil & gas, construction, e-Commerce, retail, port management, etc. Improvements in technology have led to the expansion of cutting-edge RFID tags with widespread coverage and long-range capabilities. In addition, several other innovations have directly propelled the requirement for IC-based and surface acoustic wave (SAW) RFID tags in a positive manner.
According to the report analysis, ‘Asia Pacific RFID Tags Market 2020-2026 by Product Type, Frequency Band, Wafer Size, Material, Form Factor, Industry Vertical, and Country: Trend Forecast and Growth Opportunity’ states that Alien Technology Corporation, AMS AG, Atmel Corp, CipherLab Co., Ltd., Confidex Ltd, Datalogic S.p.A., GAO RFID, Inc., Honeywell International, Impinj, Inc., Invengo Technology Pte. Ltd., NXP Semiconductors, Omni-Id, Inc., RF Code, SMARTRAC N.V., Technology Solutions UK Ltd. (TSL), ThinkMagic (Trimble), Xerox Corporation, Zebra Technologies Corporation and several others are the foremost companies which presently operating more positively in Asia Pacific RFID tags market for leading the highest market growth and dominating the handsome value of market share around the globe while delivering the better consumer satisfaction, establishing the several research and development programs, analysing the strategies and policies of the government as well as competitors, spreading the awareness connected to the applications of such, increasing the applications and qualities of such, implementing the policies of enlargements and profit making, employing the young and intellectual work force, and increasing the quantitative and qualitative measures of such.
In addition, the application of RFID tags has augmented across dissimilar sectors for their positive characteristics such as prevention of theft and shipment tricking in real-time. The increasing requirement of a robust supply chain is augmenting the usage of such tags in different sectors including transportation and logistics. Advanced technologies such as IoT and Big Data play an energetic role in influencing the market ahead. The logistics and transport segments projected to lead the market as end-use owing to the widespread application to deal with the stealing and counterfeit related issue. The employment of these tags has significantly augmented in the aerospace and health sector due to its reimbursements such as enhanced supply chain visibility, improved conservation tracking, efficient logistics, vigorous asset management, and utilization.
The retail stores are propelling the growth in the market by utilizing these tags to maximize inventory applicability along with influencing the consumer experience. Increasing interest of the retail sector in the RFID technology is principally due to enterprises’ desire to attain greater visibility and speed in their supply chains, and want to augment both store effectiveness and operational effectiveness. RFID in retail can be utilized to safeguard theft and track items that are commonly moved and often misplaced. The RFID technology enables retailers to track their inventory throughout the retail supply chain, from warehouse shelves the entire manner to the sales floor. An operative supply chain operation guarantees that goods are delivered on time and to the place where consumers are able to buy them. Potential gains from the utilization of RFID tags include decreased labour costs, augmented sales, and lower inventory levels. Therefore, in the near years, it is predicted that the market of RFID tags will increase around the globe more effectively over the forthcoming years.
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Ankur Gupta, Head Marketing & Communications