Vehicle RFID Tag Market to Surge at a 13.92% CAGR from 2023 to 2028, Driven by Rising Demand for RFID Solution Integration in Automotive Industry

Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Vehicle RFID Tag Market 2024-2028" report has been added to's offering.

The global vehicle RFID tag market is poised to expand significantly, with an anticipated growth of USD 1891.36 million during the forecast period of 2023-2028, according to a recent market analysis. This growth is projected to accelerate at a compound annual growth rate (CAGR) of 13.92%, as vehicular RFID solutions gain traction for various applications.

The comprehensive market research provides insights into the current landscape, seizing upon the burgeoning trends and catalysts propelling the industry forward. The escalation in market size can be attributed to several factors, including an upswing in tax revenue, challenges with parking, and the enhanced convenience of RFID technology for parking system users and operators alike.

From an application standpoint, the vehicle RFID tag market is dissected into two segments:

  • Passenger cars
  • Commercial vehicles

While from a product type perspective, the market is bifurcated into:

  • Active RFID tags
  • Passive RFID tags

The study further classifies the market based on geographic regions, spanning:

  • Asia-Pacific (APAC)
  • North America
  • South America
  • Europe
  • Middle East and Africa (MEA)

Aided by comprehensive vendor analysis, the report aims to furnish stakeholders with exhaustive insights to bolster their position within the market. The research pinpoints the growing adoption of RFID-based license plates as a pivotal component expected to fuel market expansion. Additionally, the integration of RFID tags with fleet management solutions and the advent of headlight-embedded RFID tags are projected to catalyze demand.

Crucial in the report's findings is the identification of notable market players, a constellation of industry leaders who are instrumental in shaping the trajectory of the vehicle RFID tag market. The analysis includes a reconnaissance of key market influencers, pricing trends, competitive strategies, and promotional activities.

Market Overview & Future Outlook

Entrenched within the vehicle RFID tag market analysis is a decisive lens on future trends and challenges that could shape market dynamics. This strategic foresight is essential for businesses plotting to navigate the burgeoning landscape and capitalize on the growth opportunities that lay ahead.

The in-depth research, underpinned by a balance of primary and secondary sources, presents a full-bodied view of the market by culling data from various vantage points. Key parameters such as profitability, price-points, competitive scales, and promotional tactics have been appraised to furnish a holistic synopsis.

It is this meticulous conflation of data that mounts a formidable market research report, replete with reliable and comprehensively sourced intel. Businesses, analysts, and stakeholders now have access to pivotal resources that project the accurate growth trends within the vehicle RFID tag market.

For additional information on this comprehensive market assessment, please visit the market research report section on our website.

A selection of companies mentioned in this report includes

  • Alien Technology LLC
  • Avery Dennison Corp.
  • Beontag Group
  • CAS DataLoggers
  • 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
  • Somfy Group
  • Star Systems International Ltd.
  • TransCore
  • Xerafy Singapore Pte Ltd.
  • Zebra Technologies Corp.

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