Global RFID Tire Tag Market Size To Worth USD 3.49 Billion By 2033 |CAGR of 10.38%

Global RFID Tire Tag Market Size To Worth USD 3.49 Billion By 2033

According to a research report published by Spherical Insights & Consulting, the Global RFID Tire Tag Market Size is Expected to Grow from USD 1.3 Billion in 2023 to USD 3.49 Billion by 2033, Growing at a CAGR of 10.38% during the forecast period 2023-2033.

Browse key industry insights spread across 231 pages with 110 Market data tables and figures & charts from the report on the "Global RFID Tire Tag Market Size, Share, and COVID-19 Impact Analysis, By Components (Passive RFID Tags, Active RFID Tags, RFID Readers), By Application (Tire Tracking & Inventory Management, Tire Lifecycle Management, Anti-Theft Protection), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/rfid-tire-tag-market

An RFID tire tag is a small electronic device embedded in or attached to a tire that uses radio frequency identification (RFID) technology to store and transmit information about the tire. The tag normally has a unique identification number and can include other information such as production specifications, size, tread type, usage history, and maintenance records. RFID tire tags are becoming increasingly common due to better tire management, fleet efficiency, and safety. The RFID tire tag market is growing due to several major factors, including improved tire management efficiency, cost savings in fleet operations, and the ability to comply with stricter vehicle safety and tire maintenance rules. RFID technology enhances fleet safety by enabling real-time tire tracking, condition monitoring, and predictive maintenance, which reduces the chance of tire failure. However, several challenges limit the growth of the RFID tire tag industry, including costly initial setup costs that might be a barrier for small and medium-sized firms.

The passive RFID tags segment is predicted to hold the largest market share through the forecast period.

Based on the components, the RFID tire tag market is classified into passive RFID tags, active RFID tags, and RFID readers. Among these, the passive RFID tags segment is predicted to hold the largest market share through the forecast period. The segment's supremacy derives mostly from its low cost, small size, and ease of incorporation into tires. Passive RFID tags don't need an internal power source because they are activated by the electromagnetic field from an RFID reader, making them more inexpensive and commonly utilized in tire applications.

The tire tracking & inventory management segment is anticipated to hold the highest market share during the projected timeframe.   

Based on the application, the RFID tire tag market is divided into tire tracking & inventory management, tire lifecycle management, and anti-theft protection. Among these, the tire tracking & inventory management segment is anticipated to hold the highest market share during the projected timeframe. The segment's popularity is driven by the increased demand for efficient tire management solutions across industries, particularly fleet management and logistics.

North America is estimated to hold the largest share of the RFID tire tag market over the forecast period.

North America is estimated to hold the largest share of the RFID tire tag market over the forecast period. The region's automotive industry is well-established, with key players in vehicle manufacture, tire production, and fleet management, creating a strong demand for modern tire management solutions such as RFID technology.

Asia Pacific is predicted to have the highest CAGR growth in the RFID tire tag market over the forecast period. The Asia Pacific region is a key automobile production powerhouse, with China, India, Japan, and South Korea driving demand for modern technologies like RFID tire tags.

Major key players in the RFID tire tag market include HIdentification Technologies Inc., TireStamp Inc., Cimtec Automation Inc., Vanguard RFID Systems, Impinj Inc., Alien Technology, Avery Dennison Corporation, NXP Semiconductors, STMicroelectronics, Checkpoint Systems, and Others.

Recent Developments

• In March 2024, Hana, a pioneer in RFID tire tag technology, announced a new license agreement with Michelin, a global tire producer. This collaboration enables Hana to manufacture and promote the new and innovative 'Link Less' embeddable RFID Tire Tag (Rev4) both within and outside of the tire market.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the RFID tire tag market based on the below-mentioned segments:

Global RFID Tire Tag Market, By Components

• Passive RFID Tags
• Active RFID Tags
• RFID Readers

Global RFID Tire Tag Market, By Application

• Tire Tracking & Inventory Management
• Tire Lifecycle Management
• Anti-Theft Protection

Global RFID Tire Tag Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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