Chipless RFID Market Expected to Reach to Reach $4.74 Billion By 2027 | Top Impacting Factors, Growth Opportunities, and Business Strategies [Customization Available - 2032]

According to the report published by Allied Market Research, the global chipless RFID market generated $903.3 million in 2019, and is estimated to reach $4.74 billion by 2027, witnessing a CAGR of 23.1% from 2020 to 2027. The report provides a detailed analysis of changing market trends, key winning strategies, top investment pockets, major segments, value chain, and competitive scenario.

Increase in efficiency offered by chipless RFID tags, rise in demand in the banking and healthcare sectors, and low cost of manufacturing drive the growth of the global chipless RFID market. However, risks related to breach of confidential information hinder the market growth. On the other hand, shift of retailers to RFID and innovations in cloud-based systems are expected to present numerous opportunities in the coming years.

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The chipless RFID market in Asia-Pacific is expected to grow at the highest rate during the forecast period, owing enormous development of logistics & transportation, manufacturing, healthcare, retail industries in arising economies. Moreover, economically developed nations tend to witness high penetration of chipless RFID technology in various healthcare segments, which is projected to significantly contribute toward the growth of the market.

A chipless RFID system is equipped with a planar encoder (characteristically a printed pattern containing the ID code) & an antenna for communication with the reader. Due to low-cost conductive inks, the cost of the tag can be significantly reduced. The chipless RFID system has benefits over conventional sensors due to its lower radiated power, lower cost, robustness, and longer storage life. Alternatively, chipless RFID system provide identification data & monitor several physical parameters of tagged items without having an active sensor in the circuitry.

The global chipless RFID market is anticipated to witness significant growth over the period of forecast. Factors such as high accuracy, low manufacturing cost, and providing more functions as compared to other alternatives drive the growth of chipless RFID market. However, initially high capital investment is a major restraint to global chipless RFID industry.

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In addition, growing shift of retailers toward chipless RFID is expected to create opportunities for the chipless RFID industry. Moreover, economically developed nations tend to witness high penetration of chipless RFID technology in various retail segments. Factors such as growing manufacturing sector, incentives in the Union Budget worldwide owing to COVID-19 pandemic, are expected to contribute toward the chipless RFID market growth in the coming years.

COVID-19 Scenario:
1. Production activities have been hampered in many regions across the globe due to lockdown and temporary shutdown of different industries in European and Asia-Pacific countries. The supply chain and day-to-day activities have been disrupted.
2. The production facilities in the electronics sector have been stopped, which in turn, created a supply-demand gap. There have been interruptions in large-scale manufacturing across Europe and exports of Chinese parts.
3. The demand for chipless RFID tags and readers increased during the pandemic to increase automation and wireless operations for maintaining lesser contact. The demand would be met steadily as manufacturing activities begin at full scale.

The report provides detailed segmentation of the global chipless RFID market based on product type, frequency, application, end user, and region. Based on product type, the tag segment accounted for the largest market share in 2019, holding nearly three-fourths of the total share, and is estimated to maintain its leadership status during the forecast period. Moreover, this segment is expected to manifest at the highest CAGR of 23.5% from 2020 to 2027. The research also analyzes the reader segment.

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Based on end user, the logistics and transportation segment contributed to the highest market share in 2019, accounting for more than one-fourth of the global chipless RFID market, and is projected to maintain its lead position in terms of revenue by 2027. However, the healthcare segment is estimated to portray the fastest CAGR of 26.9% during the forecast period.

Based on region, North America held the largest market share, contributing to more than one-third of the total share in 2019, and will maintain its lead position during the forecast period. However, Asia-Pacific is projected to witness the highest CAGR of 25.2% from 2020 to 2027.

Major players of the global chipless RFID market analyzed in the research include Alien Technology, LLC, Avery Dennison Corporation, Applied Wireless, Inc., Honeywell International Inc., Checkpoint Systems, Inc., Impinj, Inc., iDTRONIC GmbH, NXP Semiconductors, Invengo Technology Pte. Ltd., and Zebra Technologies Corporation.

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