Vehicle RFID Tag Market to Grow By 26.32 mn Units Between 2020-2024 | Industry Analysis, Market Trends, Market Growth, Opportunities, and Forecast | Technavio

Technavio has announced its latest market research report titled Global Vehicle RFID Tag Market 2020-2024 (Graphic: Business Wire)

LONDON--()--Technavio has been monitoring the vehicle RFID tag market and it is poised to grow by 26.32 mn 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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Impact of COVID-19

The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the vehicle RFID tag market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

Frequently Asked Questions:

  • What are the major trends in the market?
    Integration of RFID tags with fleet management systems (FMS) is a major trend driving the growth of the market.
  • At what rate is the market projected to grow?
    The market will accelerate at a CAGR of over 7% and the incremental growth of the market is anticipated to be 26.32 mn units.
  • 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.
  • What is the key market driver?
    The use of RFID tag to solve parking-related issues is one of the major factors driving the market.
  • How big is the APAC market
    The APAC region will contribute 79% of the market share.

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View market snapshot before purchasing

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. The use of RFID tag to solve parking-related issues will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this vehicle RFID tag market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Vehicle RFID Tag Market 2020-2024: Segmentation

Vehicle RFID Tag Market is segmented as below:

  • Application
    • Passenger Cars
    • Commercial Vehicles
  • Geographic Landscape
    • APAC
    • Europe
    • MEA
    • North America
    • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41195

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. The vehicle RFID tag market report covers the following areas:

  • Vehicle RFID Tag Market Size
  • Vehicle RFID Tag Market Trends
  • Vehicle RFID Tag Market Industry 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.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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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:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • 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

Customer landscape

  • Overview

Geographic Landscape

  • 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

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • 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.
  • RAMP
  • SIVA Group
  • Smartrac NV

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

     

About Us

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

 

Release Summary

The Vehicle RFID Tag Market will grow by 26.32 mn units during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/