According to a new market research report published by Credence Research “UHF RFID inlays Market (Inlays Type – Dry Inlays and Wet Inlays, End-use Verticals – Retail, Financial services, Healthcare, Government, Industrial, Transport & Logistics and others) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global UHF RFID inlays market is set to expand with a CAGR of 14.8% throughout the forecast period to reach US$ 1,223.5 Mn by 2026.
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The UHF RFID inlays market highly driven by increasing demand from various end-use verticals including retail, financial services, healthcare, industrial, government and transportation & logistics among others for longer detection range. UHF RFID tags hold largest share in security systems market owing to higher flexibility and affordability it offers. Significantly increasing retail industry reported as one of the most promising factors proliferating the market demand for UHF RFID inlays worldwide. Rising GDP along with disposable income of burgeoning population contributed in driving global retail industry, thereby giving positive impact on UHF RFID inlays market. Increasing need for long distance identification creating high demand for UHF RFID tags, thus ensures UHF RFID inlays market growth. Low cost and longer life of UHF RFID inlays, used in passive tags, has emerged one of the highly demanded solutions for product security, especially in retail sector.
The UHF RFID inlays market is segmented based on type, into dry and wet inlays. According to our research, wet inlays accounted for the largest market share owing to lesser cost of these inlays along with supportive labels (papers, plastic sheets, etc.) Product enhancement such as metallic RFID wet inlays, web RFID wet inlays further helping wet inlays segment to grow over the review period. On account of increasing popularity of passive tags, they have captured more than 50% of the overall RFID tags market. On the other hand, dry inlays segment finds its adoption in retail (for products which require comparatively larger tags e.g. garments) and security sectors owing to larger size of final product. Considering increasing demand for UHF RFID inlays from retail sectors, it is expected to hold largest market share during the forecast period. Global retail industry expected to reach US$ 27.7 Tn by 2020.
Technological advancements coupled with increasing adoption of UHF RFID inlays, in terms of passive RFID tags, allows North America to dominate the global market. North America expected to lead global UHF RFID inlays market during the forecast period from 2018 to 2026. Increasing demand from numerous asset management companies further increases the demand for passive UHF RFID inlays in North America. Asia Pacific projected to register fastest growth in overall UHF RFID inlays market during the forecast period. Increasing retail and e-commerce industry ensures significant growth of UHF RFID inlays market in this region.
Some of the major players profiled in the report include SMARTRAC N.V., Shang Yang RFID Technology Yangzhou Co. Ltd., Xindeco IOT Technology Co. Ltd., Invengo Technology Pte. Ltd., Avery Dennison Corporation, Shanghai Inlay Link Inc., NXP Semiconductor Austria GmbH, Alien Technology, LLC, Zhejiang Junmp Technology Inc. Ltd., Identive Group, Inc., ITL Group, HID Global Corporation, Convergence Systems Company Ltd., Xerafy Ltd., Impini, Inc. and others.
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