XMINNOV finds that the total RFID market in China was US$1.7 billion in 2014, covering chips, tags (including cards, fobs, labels and all other form factors), readers, software/services and system integration. Our forecasts exclude other Internet of Things technologies such as sensor networks or wireless telecommunications. It also excludes the non-RFID business of RFID companies. This figure is expected to rise to US$4.3 billion by 2025. The value of RFID tags is $430 million in 2014, taking about 25% of the total RFID market. XMINNOV expects that to reach $952 million in 2025.