Chipless RFID Market by 2026: Market Competitive Situation & Opportunities
The global chipless RFID market was estimated to account for US$ 955.3 Mn in terms of value in 2019.
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Increasing demand for efficient supply chain management has increased the adoption of chipless RFID tags significantly in the recent past. Chipless RFID tags can store detailed information up to 2KB associated with the tagged products. The prices and other details of the product are automatically recorded when the consumer approaches the counter, without screening every product, eventually saving time of the consumer. Furthermore, it enables the cost tally in a signal scan, which also saves time for the user as well as product retailers. Such advancements in technology have encouraged retail and manufacturing organizations to adopt chipless RFID tags for their respective products.
However, low memory capacity of RFID tags is expected to restrain the global chipless RFID market growth over the forecast period
Market Dynamics - Drivers
Growing demand for chipless RFID tags in banking and healthcare sector is expected to drive the global chipless RFID market during the forecast period
Various industries such as healthcare and the BFIS sector are adopting chipless RFID tags to keep track of their products. These chipless RFID tags are relatively less expensive since they do not have silicone chip and do not require maintenance operations. Thus, these factors have increased the adoption of chipless RFID tags in passports and banking cards. Moreover several companies significantly adopting chipless RFID due to its cost-efficient and anti-counterfeiting properties, which in turn, is expected to boost the global chipless RFID market growth during the forecast period.
Integration of sensors in chipless RFID tags is expected to pose lucrative business opportunities
Chipless RFID is a combination of communication technologies and sensors that help companies to tack their asset and manage shipment for their products. Key companies in the market are focused on research and development activities, in order to innovate novel products, owing to increasing use of chipless RFID in numerous industries. Moreover, various manufacturers in the market are developing sensors that can withstand factors such as pressure, moisture, temperature, and other with RFI. This, in turn, is expected to pose lucrative business opportunity for market players.
Key companies operating in the global chipless RFID market are Zebra Technologies Corporation, Spectra Systems, Molex Inc., Xerox Corporation, Politronica Inkjet Printing S.r.l., Vubiq Networks Inc., Thin Film Electronics ASA, and TagSense Inc.
o Global Chipless RFID Market, By Component Type:
o RFID Tags
o RFID Reader
o RFID Middleware
o Global Chipless RFID Market, By Industry:
o Retail & Consumer Goods
o Logistics & Manufacturing
o Aerospace & Defense
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