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Recent research: Chipless radio frequency identification (RFID) devices market to grow at a CAGR of +25% by 2022

IT Market Research

Conventionally, RFID has been used for “track” and “trace” applications. Chipless RFID is an offshoot of RFID system, which is used for similar function. Chipless RFID is an affordable solution for customers who were reluctant to use RFID due to its high price. Technology advancements to data accuracy and cost-effective solution are driving the growth of the chipless RFID market. Chipless RFID tags are expected to witness significant growth in the years to come. The market is projected is projected to grow at a CAGR of +25% The demand for chipless RFID is expected to increase significantly since the price of the chipless RFID tag is expected to reduce up to 1 cent. Chipless RFID is applicable to applications such as retail, supply chain, aviation, healthcare, smart card, public transit, and others. However retail, supply chain, and smart cards are growing at a good pace and expected to provide good growth.

Factors such as the growing need to track assets and manage inventory in the supply chain of every industry will result in the rapid growth of this market. Furthermore, with the rising use of smart cards for applications such as e-passports, banking, and public transit, the market for chipless RFID will have a positive outlook until the end of the forecast period.

Global Chipless Radio Frequency Identification Devices market competition by top manufacturers/players, with Chipless Radio Frequency Identification Devices sales volume, Price (USD/Unit), revenue (Million USD) and market share for each manufacturer/player; the top players including: Inksure Technologies, Zebra Technologies Corporation, Dai Nippon Printing, Toppan Forms, BASF, Impinj Incorporation, Alien Technology Corporation,

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The augmented need for asset tracking and inventory management will be the key driver for this market. Asset tracking is the process of tracking a physical asset and collecting information on its usage and whereabouts.

Inventory management is the process of tracking stocked goods in order to plan further production. Both these processes form an integral part of the supply chain.

Chipless RFID helps to keep track of all products and also lets the manufacturer know if any product is out of stock. Also, it is extensively used in the healthcare sector to keep track of medical equipment.

The transport and logistics application segment will be the largest market segment by 2020 owing to the rapid adoption of chipless RFID technology in vehicles and logistics activities like distribution and warehousing. Since chipless RFID tags are more affordable than the usual RFID tags, they are extensively being used for inventory management purposes to keep the supply chain operations hassle free

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The global chipless RFID market is highly competitive, and the level of competition is anticipated to intensify over the next few years as a result of the rising awareness among end users and the increasing market penetration of chipless RFID. Since this is a cheap product with low manufacturing costs, many players will enter this market to take advantage of its growth prospects.

By manufacturer, the researchers have brought to light the growth of the Global Chipless Radio Frequency Identification (RFID) Market on the basis of share, revenue, and growth. Buyers of the report have also been provided with significant information on market competition trend and market concentration trend.

The top three and top six market shares by manufacturers of the market have been presented in the report to gain a good insight into the vendor landscape of the market.

According to type and application, the international Global Chipless Radio Frequency Identification (RFID) Market has been evaluated as per price and sales growth for the aforementioned forecast period. However, the forecast figures of the market for each region and by type and application have been offered in the publication for the period 2017–2025.

Towards the end of the publication, readers have been provided with a study on indirect marketing and direct marketing sales channels, dealers, traders, and distributors, and the future trends of marketing channels.

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