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Analysis of the Global RFID Tags Market

  • February 2014
  • -
  • Frost & Sullivan
  • -
  • 105 pages

Summary

Table of Contents

Active RFID Tags Show Significant Promise in a Market Dominated by Passive RFID Tags

Executive Summary

•Among the various radio frequency identification (RFID) components, tags have been the largest revenue contributor and continue the same trend over the forecast period. The global market for RFID tags is expected to grow at a compound annual growth rate (CAGR) ofxx percent between 2012 and 2019.
•Traditionally, retail and industrial segments have been major revenue generators for tags. Applications such as tool tracking, patient monitoring, tracking perishable goods, and returnable transport items are high growth areas.
•Passive is expected to dominate the market over the forecast period with considerable demand for UHF tags due to pricing. Active continues to cater to specific applications with real time location systems (RTLS) expected to offer considerable potential.
•Whilst Europe and North America were early adopters of the technology and account for a major share of the world market, the future demand is expected to be steady. Emerging Markets, such as Brazil, India, South Africa, the Middle East, Russia, and China, are expected to embrace this technology, thereby offering considerable growth opportunities.
•Customer purchase decisions vary with respect to end-user industries. Despite product quality and performance being the most important factors, other factors such as price, delivery time, and global network also influence purchasing decisions.
•Traditional markets are dominated by large conglomerates but are expected to witness further consolidation. Niche applications drive newer entrants into this market.

CEO’s Perspective

Companies need to deploy effective growth strategies to tap into growing end-user markets.
Currently UHF RFID dominates the market. RTLS is expected to witness considerable growth opportunities.
Significant growth potential exists in developing economies, especially in Brazil, Russia, India, and China.
Building an ecosystem of partners will help establish a quick foothold in the market for newer entrants.
Aviation, cold chain, patient monitoring, and high technology are high-growth markets.

Definitions

Radio frequency identification (RFID): RFID is a technology that uses radio wave communication to identify items and personnel individually or as a group. On the basis of their frequency of operation, these radio waves are classified as low frequency (LF), high frequency (HF), and ultra-high frequency (UHF).
RFID technology is broadly classified into passive and active RFID technologies.
•Passive technology: This is technology that operates without a built-in battery in the tag and uses power from the readers to perform the operation. This research is focused on the use of this technology in various applications.
•Active technology: This is technology that uses a built-in battery either on a minimum level or completely to perform the operation.
The products involved as a part of revenue calculation involve RFID tags. With respect to end users, the scope of the research includes retail and apparel, industrial, transportation, healthcare, and others. Others include industries such as animal ID, education, libraries, museums, hospitality (hotels, cruises, resorts, and casinos), sports, and postal.

Retail and Apparel
This is the selling of goods such as food, apparel, consumer products, personal care, jewelery, and footwear. The industry can be classified into food, hard goods, and soft goods. Applications wherein RFID is used include supply chain management, inventory visibility, and asset tracking.

Industrial
This is the manufacturing of domestic and commercial aircrafts, vehicles, and other manufacturing. Furthermore, it also includes the production and selling of goods from plastics to metal parts. RFID is used in applications such as tool tracking, component identifying, body parts identifying, process optimization, and asset tracking. Also includes process and discreet industries.

Transportation
The Industry includes roadways, railways, aviation, and waterways. Several applications where RFIDs are used include electronic tolling, automatic vehicle identification, electronic vehicle registration, fleet management, wagon tracking, tire pressure monitoring, components health monitoring, and maintenance checking. Returnable transport items (RTI) and logistics applications are also included as part of this research.

Healthcare
Pharmaceutical companies have been included as part of the healthcare industry, including manufacturing of drugs. RFID applications in this industry include tracking and monitoring, inventory management, and personnel tracking.

Others
Others involve industries tracking and tracing animals and books using this technology. Applications using the technology include access control, tracking, and tracing.

Key Questions This Study Will Answer

Is the market growing, how long will it continue to grow, and at what rate?
What are the key growth drivers and restraints for the market?
What are the potential areas of growth, globally and regionally?
How will the structure of the market change with time? Is the market ripe for acquisitions?
What are the potential areas of growth globally in terms of applications?
Are the vendors in the market ready to manage alone, or do they need partnerships to take their business to the next level?

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