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Vehicle RFID Tag Market to Grow by USD 3.20 Billion (2025-2029), Increased Tax Revenue Drives Growth, AI Impact on Market Trends – Technavio

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NEW YORK, Jan. 3, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global vehicle RFID tag market size is estimated to grow by USD 3.20 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of about 19% during the forecast period. Increase in tax revenue is driving market growth, with a trend towards growing popularity of rfid-based license plates. However, presence of alternative technologies to rfid poses a challenge. Key market players include Alien Technology LLC, ASSA ABLOY AB, Avery Dennison Corp., Beontag Group, CAS DataLoggers, FEDRIGONI Spa, GAO Group Inc., Hana Microelectronics Public Co. Ltd., Impinj Inc., Invengo Technology Pte. Ltd., Nedap NV, NXP Semiconductors NV, RFID Inc., Roper Technologies Inc., SATO Holdings Corp., Shenzhen Hopeland Information Technologies, SkyRFID LLC, Somfy Group, Star Systems International Ltd., Xerafy Singapore Pte Ltd., and Zebra Technologies Corp..

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Vehicle RFID Tag Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 19%

Market growth 2025-2029

USD 3203.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.6

Regional analysis

APAC, North America, South America, Europe, and Middle East and Africa

Performing market contribution

APAC at 76%

Key countries

US, Canada, China, Japan, Germany, India, UK, South Korea, France, and Italy

Key companies profiled

Alien Technology LLC, ASSA ABLOY AB, Avery Dennison Corp., Beontag Group, CAS DataLoggers, FEDRIGONI Spa, GAO Group Inc., Hana Microelectronics Public Co. Ltd., Impinj Inc., Invengo Technology Pte. Ltd., Nedap NV, NXP Semiconductors NV, RFID Inc., Roper Technologies Inc., SATO Holdings Corp., Shenzhen Hopeland Information Technologies, SkyRFID LLC, Somfy Group, Star Systems International Ltd., Xerafy Singapore Pte Ltd., and Zebra Technologies Corp.

Market Driver

The Vehicle RFID tag market is experiencing significant growth due to increasing demands for enhanced security and improved supply chain management in various industries. With Industry 4.0’s focus on smart manufacturing, RFID technology is becoming essential for real-time intelligence and response times. The market is driven by trends such as product traceability, asset tracking, and counterfeit product prevention in sectors like healthcare, pharmaceuticals, agriculture, and aerospace. Security threats, including theft and stockouts, are major concerns, making RFID tags an attractive solution. RFID readers and sensor networks enable quick identification and location of vehicles and goods, reducing response times and improving safety. High initial costs are being offset by innovations like NFC and uhf technology, and the integration of RFID with the Internet of Things and product licensing. In the aerospace industry, RFID tags help maintain intellectual property rights and ensure safety. In healthcare and pharmaceuticals, they ensure product authenticity and improve patient safety. In agriculture, RFID tags help monitor livestock and optimize farming operations. Overall, the market’s future looks bright, with continued growth expected in the coming years. 

RFID tags are utilized in the automotive industry for vehicle identification and toll payments. Traditional RFID tags are attached to windshields, enabling toll plaza readers to extract vehicle identification numbers for online transactions. Advanced RFID technology is integrated into electronic license plates, offering benefits such as tamper-proof registration, traffic management, and access control. European countries are testing these plates, while the Philippines is implementing them in on-road vehicles. In October 2019, Pakistan introduced RFID vehicle registration plates to meet international standards and enhance security against terrorism and auto theft. 

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Market Challenges

The Vehicle RFID tag market is experiencing significant growth due to the increasing demand for real-time intelligence and product traceability in various industries. However, there are challenges that need to be addressed. Security threats, such as hacking and data breaches, pose a risk to RFID systems. Industry 4.0 and the Internet of Things require faster response times, which can be a challenge for some RFID readers. Industries like aerospace, healthcare, pharmaceuticals, agriculture, and logistics rely on RFID technology for asset tracking and counterfeit product detection. However, high initial costs and intellectual property rights can be barriers to entry. The use of NFC and UHF technology in RFID tags is driving innovations, but the market also faces challenges like stockouts, theft, and safety concerns. Sensor networks and product licensing are other factors influencing the market. RFID technology provides real-time intelligence for supply chain logistics and stock movements, but the need for high-security RFID systems and sensors to detect temperature and humidity is essential. The market for RFID tags in the automotive industry is expected to grow, with a focus on improving safety and reducing theft. Overall, the market for RFID tags is dynamic, with continuous innovations and challenges shaping its future.RFID technology is widely used in electronic toll collection systems in major economies worldwide, except for Europe and Japan. However, RFID faces competition from DSRC and GNSS technologies, which are popular in Europe. Automobile manufacturers are focusing on delivering connected services to drivers, using DSRC and GNSS technologies for real-time traffic, weather reports, and road condition alerts. DSRC enables direct communication between vehicles and other road users without infrastructure involvement, ensuring secure and high-speed data transfer.

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Segment Overview 

This vehicle rfid tag market report extensively covers market segmentation by 

Application 1.1 Passenger cars1.2 Commercial vehiclesType 2.1 Active RFID tag2.2 Passive RFID tagGeography 3.1 APAC3.2 North America3.3 South America3.4 Europe3.5 Middle East and Africa

1.1 Passenger cars- The passenger cars segment is experiencing notable growth in the global vehicle RFID tag market, with the Asia Pacific region leading the charge. The increasing demand for passenger cars in both developed and developing economies, such as India, China, and others, is fueling this growth. In 2022, India recorded its highest-ever passenger vehicle sales, with a total of 3.8 million units sold, a significant increase from the 3.34 million units sold in 2018. This trend is also visible in countries like China, the US, Canada, Germany, France, the UK, Spain, and more, where high disposable income and attractive financing options are driving the demand for vehicles. RFID tags are becoming increasingly essential for the automotive industry due to their convenience and safety benefits. For instance, they are used in automatic parking systems for contactless payment and in electronic vehicle registration for identification and data validation. Government mandates in emerging economies like India, China, Malaysia, and others are also pushing automotive OEMs to include RFID tags as standard features in new vehicles. The growing demand for passenger cars and the resulting need for added features will continue to boost the growth of the global vehicle RFID tag market through the passenger cars segment during the forecast period.

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Research Analysis

The Vehicle RFID tag market is witnessing significant growth due to the increasing adoption of RFID technology in various industries for asset management and supply chain optimization. RFID middleware plays a crucial role in enabling interoperability between RFID readers and applications. The return on investment (ROI) for RFID systems can be substantial, with benefits including real-time inventory tracking, improved productivity, and enhanced security. Implementation costs and system design are important considerations for RFID deployment. Compliance with industry standards and best practices is essential for successful implementation. RFID software and data analytics tools help organizations make informed decisions based on the data collected by RFID tags. High-frequency RFID tags are commonly used in vehicle applications due to their long read ranges. Semi-passive tags offer a good balance between cost and functionality. NFC technology, a type of RFID, is gaining popularity for its use in IoT solutions, IoT platforms, and NFC applications, including payments and access control. Asset management is a major use case for RFID in the automotive industry, with RFID tags used to track vehicles and their components. Warehouse automation and IoT devices are other areas where RFID is being used to improve efficiency and productivity. Data security is a key concern in RFID systems, with IoT security and NFC security being important considerations. Training and consulting services are available to help organizations with RFID implementation and integration into existing systems. RFID labels and IoT devices come in various sizes and shapes to suit different applications. The benefits of RFID include improved accuracy, increased efficiency, and reduced labor costs. In conclusion, the Vehicle RFID tag market is a dynamic and growing industry, with RFID technology being used in various applications to improve efficiency, productivity, and security. RFID middleware, software, and data analytics tools are essential components of RFID systems, and compliance with industry standards and best practices is crucial for successful implementation. NFC technology is a key trend in the market, with applications ranging from payments to access control. Data security is a major concern, and organizations can turn to training, consulting, and IoT security services for assistance.

Market Research Overview

The Vehicle RFID tag market is experiencing significant growth due to the increasing demand for real-time intelligence and enhanced security in various industries. RFID technology, which utilizes sensors and readers to automatically identify and track vehicles and assets, is becoming a crucial component of Industry 4.0 and the Internet of Things. However, the market faces challenges such as security threats, high initial cost, and intellectual property rights. The automotive industry, aerospace, healthcare, pharmaceuticals, agriculture, and supply chain logistics are major sectors adopting RFID technology for product traceability, counterfeit product detection, and stock movements. Response times and safety are key considerations, with UHF technology and NFC gaining popularity for their long-range capabilities. Innovations in RFID technology, such as sensor networks and real-time intelligence, are further driving market growth. However, concerns over stockouts, theft, and asset safety remain, necessitating continuous advancements in RFID technology and supply chain management systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ApplicationPassenger CarsCommercial VehiclesTypeActive RFID TagPassive RFID TagGeographyAPACNorth AmericaSouth AmericaEuropeMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

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/

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3 Easy Ways to Save on Payroll Software in 2025

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New survey results from Halfpricesoft reveals key tricks businesses across America have been using to maximize efficiency.

REDMOND, Wash. , Jan. 7, 2025 /PRNewswire/ — With inflation, “shrinkflation,” and corporate price hikes since the pandemic, small businesses are being squeezed by big tech companies into ever-smaller margins. Large coastal tech providers continue raising prices on even the most basic payroll software features, leaving small businesses and bookkeepers to foot the bill.

 

Business experts at Halfpricesoft have spent thousands of hours talking with small businesses from Iowa to Idaho to learn how they are surviving these unprecedented times. From cutting overhead costs to running more effective acquisition campaigns, they found that one of the biggest unnecessary expenses is overpaying for tech products—particularly payroll software. Business owners and accountants shared stories of per-employee fees exceeding $10 and steep charges for adding new companies.

Fixed Price for Employees

The fastest way to save money on payroll is to pick software with a fixed price rather than per-employee charges. Many major providers charge double digits per additional employee, which quickly drives up costs. Instead, choose solutions that offer a fixed rate, regardless of the number of employees.

ezPaycheck, an unlimited-employee payroll solution from Halfpricesoft, does exactly that. With unlimited employees and unlimited checks, bookkeepers, CPAs, and business owners have saved as much as 90% by switching from larger competitors. By focusing on fewer (but essential) features and streamlining development, ezPaycheck has been sold and supported continuously since 2005.

https://www.halfpricesoft.com/index.asp

Accurate, Updated Tax Withholding

One of the most common (and costly) mistakes businesses make is using payroll software that overestimates withholding. When employers send excess funds to the IRS and state governments on behalf of employees, it ties up capital that could otherwise be reinvested into the business.

The key to scaling a  small business or CPA firm is efficient capital allocation, making any significant overpayment of taxes a major liability. Some payroll software, to avoid underpayment, will drastically overcalculate withholdings or fail to handle state tax rates correctly.

Halfpricesoft takes pride in ezPaycheck’s accuracy and rapid updates. Whenever new tax laws or rate changes are announced, ezPaycheck and ezAccounting are updated promptly—often faster than many other solutions on the market. This commitment to accuracy and ease of use explains why ezPaycheck boasts one of the highest customer retention rates in the industry.

Quick Technical Support

Small businesses are often overlooked by larger companies, even when paying thousands of dollars in annual fees. When payroll errors or calculation issues arise, major providers tend to prioritize their biggest clients, leaving smaller businesses with delayed or inadequate support. This oversight can lead to tax penalties and costly mistakes.

ezPaycheck stands out in the payroll market for its fast, attentive support—especially when W-2 and 1099-MISC forms are due at the end of January. During these peak periods, support hours extend to over 12 hours a day, ensuring quick response times. From remote desktop troubleshooting to detailed phone consultations, Halfpricesoft focuses on customer success as one of its guiding principles. Only when small-business partners succeed can a payroll company truly grow.

Conclusion

With a 30 day free trial  and only $169 for an annual license, businesses owners and CPAs are encouraged to try ezPaycheck. With after the fact checks, 941 e-filing, check printing, and misc checks, ezPaycheck is the best payroll software for small businesses who want to scale affordably.

https://www.halfpricesoft.com/index.asp

Halfpricesoft.com is a leading provider of small to mid-size business software, including online and desktop payroll software, online employee attendance tracking software, accounting software, in-house business and personal check printing software, W2, software, 1099 software,1095 form software and ezACH direct deposit software. Software from halfpricesoft.com is trusted by customers for over 20 years and will allow US business owners to simplify payroll processing and streamline business management.

 

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Siemens launches new program to empower startups with cutting-edge technology

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Siemens for Startups program to streamline the collaboration process and facilitate partnerships with new innovative companiesSiemens to collaborate with Amazon Web Services (AWS) to deliver access to Siemens Xcelerator ecosystem and accelerate innovation at startups

MUNICH, Jan. 7, 2025 /PRNewswire/ — Siemens today launched Siemens for Startups, a new program to empower early-stage engineering and manufacturing startups. Announced at CES 2025 in Las Vegas, the program will enable new innovative companies to accelerate innovation, streamline development processes and scale faster by providing venture-related services, while reducing the cost of access to Siemens software and hardware.

“Startups are essential to making our customers more competitive, sustainable and resilient. By collaborating with startups, Siemens helps bring breakthrough ideas to industries faster, empowering customers to address global challenges more effectively with cutting-edge technologies, tools and solutions,” said Peter Koerte, Member of the Managing Board of Siemens AG, Chief Technology Officer and Chief Strategy Officer. 

The Siemens for Startups program has three pillars:

Connect 
The new program will help onboard startup companies to the Siemens Xcelerator marketplace, thus providing access to a global go-to-market channel and the Siemens Xcelerator ecosystem.Collaborate 
As an early customer and co-developer, Siemens will collaborate with leading startups through venture clienting. This approach will give Siemens access to cutting-edge capabilities and services and provide startups with the early revenue needed for growth.Empower
Solutions from the “Siemens for Startups” program will provide startups – whether focused on product development or on software development – with packaged access to essential software tools from Siemens Xcelerator.

Partnership with AWS

As part of its ongoing strategic collaboration with AWS, Siemens will link the “Siemens for Startups” program with AWS’s Startup program to accelerate innovation, streamline development processes and enable startups to scale faster. The collaboration underscores both companies’ commitment to fostering entrepreneurship and driving digital transformation in the industrial sector.

“Collaborating with Siemens allows us to extend the capabilities of our AWS Startup program to a new generation of innovators in the engineering and manufacturing space,” said Jon Jones, Vice President and Global Head Startups at AWS. “By providing startups with advanced software, generative AI and cloud services, AWS and Siemens are enabling them to bring their ideas to life more quickly and boost entire industries with cutting-edge solutions.”

Integrating Siemens’ comprehensive suite of industrial software – including design, simulation and manufacturing solutions from the Siemens Xcelerator portfolio – into AWS’s scalable cloud infrastructure and startup program will enable startups to access the tools and resources they need to seize market opportunities. For technical and go-to-market support, qualifying startups will receive AWS credits, business development resources and access to the AWS Activate program.

Showcasing startups

At CES 2025, Siemens highlighted the following startup companies that are collaborating with Siemens’ teams and technology to scale operations.

Arkisys is building one of the first business platforms in space for new technology hosting, satellite integration, assembly and resupply. The Arkisys Port supports scalable rapid prototyping, new payload and technology testing, the assembly and integration of new free-flying space platforms and destinations for orbital transfer vehicles, and on-orbit assembly and manufacturing.Dirac, a Siemens Technology Partner, is a leader in automated manufacturing workflow software, revolutionizing American manufacturing with innovative solutions that bridge the gap between design and production. Its flagship product, BuildOS, is the first automated work instruction platform, using physics-based simulations and manufacturing best practices to automatically generate animated, interactive, 3D assembly-ready work instructions directly from CAD models. BuildOS enables companies to seamlessly transition from design to production while retaining critical tacit knowledge, aggregating and contextualizing it within the design process. As a Technology Partner working alongside Siemens, Dirac has been able to drive enormous value across the Automotive and Aerospace & Defense industries.EthonAI is developing the EthonAI Manufacturing Analytics System (MAS), a powerful software suite designed to achieve operational excellence at scale. The MAS creates a common context across disparate factory data sources, analyzes data using the latest AI techniques, and makes the results accessible through a suite of interoperating applications. The applications within the MAS are specifically tailored to improve operational KPIs such as quality, throughput, uptime, costs and sustainability. Customers using EthonAI have achieved waste reductions of over 50 percent.Haddy is revolutionizing furniture manufacturing with advanced 3D printing and robotics, producing high-quality, sustainable products at a low cost and on a commercial scale. Haddy is building a global network of local micro-factories equipped with hybrid Flexbot systems from CEAD and recycling units that shorten the supply chain and help the environment by reducing waste.Instrumental technology automates failure discovery and root cause analysis in electronics manufacturing — accelerating new product development and improving yield in production. Easy-to-use workflows enable engineers to do failure analysis 100x faster.Tended uses geospatial data and wearable technology to transform the safety of high-risk work environments. The solution provides organizations with enhanced visibility over onsite operations to quickly identify and correct unsafe actions. A high degree of accuracy helps to ensure people, plant and equipment are in the right place at the right time, helping to prevent near misses and accidents.

More information about Siemens for Startups is available at www.siemens.com/startups

This press release is available at:
https://sie.ag/2vXqqh

Follow us at www.x.com/siemens_press

Siemens AG (Berlin and Munich) is a leading technology company focused on industry, infrastructure, mobility, and healthcare. The company’s purpose is to create technology to transform the everyday, for everyone. By combining the real and the digital worlds, Siemens empowers customers to accelerate their digital and sustainability transformations, making factories more efficient, cities more livable, and transportation more sustainable. Siemens also owns a majority stake in the publicly listed company Siemens Healthineers, a leading global medical technology provider pioneering breakthroughs in healthcare. For everyone. Everywhere. Sustainably. 

In fiscal 2024, which ended on September 30, 2024, the Siemens Group generated revenue of €75.9 billion and net income of €9.0 billion. As of September 30, 2024, the company employed around 312,000 people worldwide on the basis of continuing operations. Further information is available on the Internet at www.siemens.com.

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Tech Mahindra Tops India and Achieves Second Place Globally in the S&P Dow Jones Sustainability Indices 2024 for TSV IT Services Segment

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PUNE, India and NEW YORK, Jan. 7, 2025 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, has announced its recognition as a global sustainability leader by S&P Dow Jones Sustainability Indices (DJSI) 2024, one of the world’s most renowned indices for ESG (Environmental, Social & Governance). DJSI has ranked Tech Mahindra as 1st in India and 2nd globally, with an impressive score of 88 and 100 percentile in the ‘TSV IT services’ segment, highlighting the organization’s unwavering commitment to advancing sustainability across its businesses globally.

The TSV IT services segment comprises three divisions: data processing and outsourced services, internet services and infrastructure, and IT consulting & other services. The announcement follows the recent results of the annual Dow Jones Sustainability Indices rebalancing and reconstitution, marking Tech Mahindra’s inclusion in the DJSI World Index and DJSI Emerging Markets for the tenth consecutive year. The DJSI World Index represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental, and social criteria.

Sandeep Chandna, Chief Sustainability Officer, Tech Mahindra, said, “In a rapidly changing world, organizations must commit to sustainability and resilience, ensuring our actions today pave the way for a better tomorrow. Tech Mahindra is proud to celebrate its inclusion in the prestigious Dow Jones Sustainability Indices for the 10th consecutive year. This sustainability milestone is a testament to our commitment to a greener future and reflects our unwavering commitment to environmental responsibility, social impact, and ethical practices.”

Tech Mahindra’s sustainability initiatives are committed to creating a positive environmental impact and achieving ambitious targets, including Net Zero by 2035, Carbon Neutrality by 2030, and attaining 90% renewable energy sourcing by 2030. The organization also aims to become water-positive by 2030 and ensure 100% Zero Waste to Landfill certification across all owned facilities.

Through the implementation of an internal carbon pricing mechanism, Tech Mahindra drives strategic investments in renewable energy, green buildings, and energy-efficient technologies. This reinforces Tech Mahindra’s position as a global leader in sustainability, committed to creating lasting value for its stakeholders and the planet.

For more information on the Dow Jones Sustainability World Indices components, click here.

For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit https://www.techmahindra.com/

Tech Mahindra’s Social Media Channels: Facebook, X, LinkedIn and YouTube

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