The U.S. RFID Tags Market is estimated to be valued at US$ 887.15 Mn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
RFID tags are used to enable radio communication between a reader and an object through radio waves for the purpose of identification and tracking. RFID tags provide convenience and automation by helping track assets and inventory in real-time. They are increasingly being used across various industries like retail, healthcare, manufacturing and transportation to optimize operations and enhance supply chain visibility.

Market key trends:
One of the major trends driving the growth of the U.S. RFID tags market is the increasing adoption of asset tracking technologies across industries. RFID tags help organizations efficiently track high-value assets and equipment in real-time. They provide asset information like location, usage history which helps optimize maintenance cycles and repair costs. Furthermore, due to ongoing supply chain complexities, there is growing demand for end-to-end supply chain visibility solutions. RFID tags integrated with IoT solutions are enabling organizations to capture precise inventory and shipment data throughout product journeys. This is helping minimize stock-outs and theft while improving overall supply chain responsiveness. Standards such as Gen 2 RFID are also making tags more affordable and improving communication range which is supporting wider usage across key end-use industries in the country.

Porter’s Analysis
Threat of new entrants: New entrants face high barriers due to well established value chain and distribution channels controlled by existing players. Significant capital is required to establish RFID infrastructure.
Bargaining power of buyers: Buyers have high bargaining power due to presence of numerous players offering substitutable products. Buyers can negotiate on price and demand additional services.
Bargaining power of suppliers: A few chip manufacturers control supply which gives them bargaining power over pricing and quantities. Suppliers can also forward integrate.
Threat of new substitutes: No major threat as RFID offers enhanced traceability, automation and real-time data compared to barcodes.
Competitive rivalry: Intense competition due to presence of numerous global and regional players. Players differentiate through technology, integration and value added services.

SWOT Analysis
Strength: Global infrastructure, advanced technologies, strong R&D capabilities. Omni-ID offers rugged and long range solutions.
Weakness: High initial implementation costs, technology compatibility issues, data security challenges. AMS faces intermittent production delays.
Opportunity: Growing mandates in manufacturing, healthcare, retail boosting revenues. Expanding into new verticals like cold chain and smart packaging.
Threats: Cybercrimes and tag cloning increase legal and compliance risks. Trade tensions impact raw material supply and costs for NXP and Impinj.

Key Takeaways
The U.S. RFID Tags Market Size is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing adoption in logistics, manufacturing and retail industries for inventory automation and track and trace solutions. By 2023, the market size is estimated to reach US$ 887.15 Mn.

Regional analysis - The south region dominates U.S RFID market with over 30% share due to presence of major inventory-intensive industries in states like Texas and presence of high air/sea trade ports. The west region is expected to grow at fastest pace during 2023-2030 period supported rising e-commerce and stringent regulations for medication safety in healthcare sector in states like California.

Key players operating in the U.S. RFID Tags market are RF Code Inc., HID The U.S. Corporation, AMS AG, Omni- ID Ltd., Impinj Inc., NXP Semiconductors N.V., Alien Technology, Invengo Information Technology Co., Ltd., and Confidex Ltd., Avery Dennison Corporation. Players focus on product innovation, mergers and partnerships to strengthen presence in specific verticals.

Read More: https://www.rapidwebwire.com/u-s-rfid-tags-market-demand-growth-and-regional-outlook-by-2030/