Vehicle RFID Tag Market to grow by USD 1.89 billion from 2023 to 2028; market is fragmented due to the presence of prominent companies like Alien Technology LLC, ASSA ABLOY AB and Avery Dennison Corp., and many more - Technavio

NEW YORK, Nov. 20, 2023 /PRNewswire/ -- The vehicle RFID tag market is estimated to grow by USD 1.89 billion from 2023 to 2028, growing at a CAGR of 13.92%. The vehicle RFID tag market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer vehicle RFID tag market are Alien Technology LLC, ASSA ABLOY AB, Avery Dennison Corp., Beontag Group, CAS DataLoggers, FEDRIGONI Spa, GAO Group Inc., Impinj Inc., Invengo Technology Pte. Ltd., Nedap NV, NXP Semiconductors NV, RFID Inc., SATO Holdings Corp., Shenzhen Hopeland Information Technologies Co. Ltd, SkyRFID LLC, Somfy Group, Star Systems International Ltd., TransCore, Xerafy Singapore Pte Ltd., and Zebra Technologies Corp. The report provides a full list of key companies, their strategies, and the latest developments. Download a Free Sample before buying

Company Offering:

• Alien Technology LLC - The company offers vehicle RFID tags such as Squiggle, Doc tag, and Squig tag.
• ASSA ABLOY AB - The company offers vehicle RFID tags such as HID EXO RFID tags, HID FIT brick RFID tags, and HID IQ on metal label RFID tags.
• Avery Dennison Corp. - The company offers vehicle RFID tags such as AD 180u7, AD 810r6, and AD 380g2iM.
• For details on companies and their offerings – Buy a report!

By Geography, the market is classified as APAC, North America, South America, Europe, and Middle East and Africa. APAC will have the largest share of the market, contributing 67% to the global market growth. Economies such as China, India, Indonesia, and Malaysia in the region witnessed a rise in the adoption of RFID tags owing to the introduction of the electronic toll collection system. The governments of APAC countries are continuously working to ease the toll payment process and increase their revenue. Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.

• Impactful driver- Increase in tax revenue
• Key Trend - Growing popularity of RFID-based license plates
• Major Challenges - Lack of proper coordination among government bodies

 Market Segmentation

• The passenger cars segment is significant during the forecast period. Sedans, coupes, hatchbacks, crossovers, and SUVs are increasingly in demand in China, the US, Canada, India, Germany, France, the UK, Spain, and others. This is because high disposable income and convenient and attractive vehicle loan schemes by financial institutions and automobile manufacturers back this demand for vehicles.

Technavio Research experts have provided more insights on the market share of segments - View a Free Sample Report

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The global RFID blood refrigerator and freezer market size is estimated to grow by USD 307.62 million at a CAGR of 16.82% between 2022 and 2027.

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio

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