LONDON--(BUSINESS WIRE)--Technavio has been monitoring the vehicle RFID tag market and it is poised to grow by 26.32 million units during 2020-2024, progressing at a CAGR of about 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- What was the value of the vehicle RFID tag market in 2019?
- Technavio says that the value of the market was USD 65.71 million units in 2019 and is projected to reach USD 92.03 million units by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of about 7%, the market growth will accelerate in the forecast period.
- What is the key factor driving the market?
- The use of RFID tags to resolve parking-related issues is one of the key factors driving the market growth.
- Who are the top players in the market?
- Avery Dennison Inc., Confidex Ltd., GAO Group Inc., Honeywell International Inc., Infotek Software & Systems (P) Ltd., Omnia Technologies Pvt. Ltd., Paragon Group Ltd., RAMP, SIVA Group, and Smartrac NV. are some of the major market participants.
- Which region is expected to hold the highest market share?
- What is the major trend in the market?
- The integration of RFID tags with fleet management systems (FMS) is a major trend driving the market growth.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Avery Dennison Inc., Confidex Ltd., GAO Group Inc., Honeywell International Inc., Infotek Software & Systems (P) Ltd., Omnia Technologies Pvt. Ltd., Paragon Group Ltd., RAMP, SIVA Group, and Smartrac NV are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The use of RFID tags to resolve parking-related issues has been instrumental in driving the growth of the market.
Vehicle RFID Tag Market 2020-2024: Segmentation
Vehicle RFID Tag Market is segmented as below:
- Passenger Cars
- Commercial Vehicles
- North America
- South America
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Vehicle RFID Tag Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our vehicle RFID tag market report covers the following areas:
- Vehicle RFID Tag Market size
- Vehicle RFID Tag Market trends
- Vehicle RFID Tag Market analysis
This study identifies the integration of RFID tags with fleet management systems (FMS) as one of the prime reasons driving the vehicle RFID tag market growth during the next few years.
Vehicle RFID Tag Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the vehicle RFID tag market, including some of the vendors such as Avery Dennison Inc., Confidex Ltd., GAO Group Inc., Honeywell International Inc., Infotek Software & Systems (P) Ltd., Omnia Technologies Pvt. Ltd., Paragon Group Ltd., RAMP, SIVA Group, and Smartrac NV. Backed with competitive intelligence and benchmarking, our research reports on the vehicle RFID tag market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Vehicle RFID Tag Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist vehicle RFID tag market growth during the next five years
- Estimation of the vehicle RFID tag market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the vehicle RFID tag market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of vehicle RFID tag market vendors
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application placement
- Passenger cars - Market size and forecast 2019-2024
- Commercial vehicles - Market size and forecast 2019-2024
- Market opportunity by Application
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Avery Dennison Inc.
- Confidex Ltd.
- GAO Group Inc.
- Honeywell International Inc.
- Infotek Software & Systems (P) Ltd.
- Omnia Technologies Pvt. Ltd.
- Paragon Group Ltd.
- SIVA Group
- Smartrac NV
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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 across 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.