What is the Size of Global Chipless Radio Frequency Identification INDUSTRY?
Global Chipless Radio Frequency Identification market is growing at a CAGR of ~% in 2017-2022 and is expected to reach ~USD Bn by 2028F.
The Chipless Radio Frequency Identification Market is largely driven by high precision and advanced features for banking, healthcare, retail, and logistic industries. Furthermore, chipless RFID technology offers a wide number of characteristics at a lower price than conventional RFIDs, such as exceptional read/write capabilities, automation, and the ability to individually identify each asset or item.
The growing need for high accuracy and advanced features in RFID technology for banking, healthcare, retail and logistic industries, among other verticals is expected to propel the growth of the chipless radio frequency identification market. Moreover, the low cost of Chipless RFID tags over traditional RFID tags further accelerates the market growth.
Manufacturing of a chipless RFID tag is relatively inexpensive as it does not require a silicon chip or batteries inside the tag for tracking of product which reduces the hassle of maintenance and prices of these tags.
Despite all of its benefits, chipless radio frequency identification has an increased risk of a data breach as it lacks a locking system or security passcode. Owing to the risk of data breaches involving the use of medications and their composition, many businesses in the healthcare and other sectors avoid using chipless RFID tags for asset tracking. During the forecast period, this factor is expected to hamper the market.
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GLOBAL CHIPLESS RADIO FREQUENCY IDENTIFICATION MARKET BY COMPONENT TYPE
The Global Chipless Radio Frequency Identification market is segmented by Component type into Tag, Reader, Middleware.
The chipless radio frequency identification tag segment dominated the Global Chipless Radio Frequency Identification Market by component type in 2022 and is expected to continue being the dominant segment during the forecast period.
Chipless RFID tags can be instantly recognized by RFID readers and their data compared within the system database thus, it gives excellent accuracy while minimizing human mistakes and effort. Additionally, chipless RFID tags are cost efficient than chip-based RFID tags.
GLOBAL CHIPLESS RADIO FREQUENCY IDENTIFICATION MARKET BY FREQUENCY
The Global Chipless Radio Frequency Identification Market is segmented by Frequency on the basis of Low, High and Ultra-High.
The ultra-high-frequency segment dominated the Global Chipless Radio Frequency Identification market in 2022 and is expected to continue being the dominant segment during the forecast period.
As these are widely used in electronic toll collection and parking access control, the ultra-high frequency segment holds a higher adoption rate over other frequency types market. To support the growth of the road network, Turkey’s Ministry of Transport and Infrastructure has implemented over 600 high-performance passive ultrahigh-frequency RFID technology for toll collection, as of 2020.
GLOBAL CHIPLESS RADIO FREQUENCY IDENTIFICATION MARKET BY APPLICATION
The Global Chipless Radio Frequency Identification market is segmented by Application into Smart Card, Smart Ticket and Other.
The Smart Card segment is the highest contributor to the Global Chipless Radio Frequency Identification market by application in 2022.
The characteristics of a smart card include its low cost, secure data, tracking, flexibility, and ease of use that helps fuel its demand in various end-user sectors including healthcare, banking, entertainment, transportation, access control, and government among others.
GLOBAL CHIPLESS RADIO FREQUENCY IDENTIFICATION MARKET BY END-USER
The Global Chipless Radio Frequency Identification market is segmented by End-User into Retail, Logistic & Transport, Healthcare, BFSI and Others.
The Retail segment is expected to be the fastest growing segment in the Global Chipless Radio Frequency Identification market during the forecast period.
Retailers and customers use chipless RFID to identify, transact, engage, locate, and authenticate their assets and staff quickly and efficiently. The chipless RFID allows minimum contact and supervision which helps the retail stores in automating their facilities and manage their operations wirelessly. This has created a greater demand for chipless RFID in retail stores that earlier used to witness huge operational gaps in manual operations.
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Key Topics Covered in the Report
- Snapshot of Global Chipless Radio Frequency Identification Market
- Industry Value Chain and Ecosystem Analysis of Chipless Radio Frequency Identification Market
- Market size and Segmentation of Global Chipless Radio Frequency Identification Market
- Historic Growth of Overall Global Chipless Radio Frequency Identification Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of Global Chipless Radio Frequency Identification Industry
- Overview, Product Offerings of Key Competitors
- Covid-19 Impact on Overall Global Chipless Radio Frequency Identification Market
- Future Market Forecast and Growth Rates of Total Global Chipless Radio Frequency Identification Market and By Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of Chipless Radio Frequency Identification Market in Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Major Regions
- Major Region-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Regions.
Major Companies Profiled in the Report
- Alien Technology
- Applied Wireless, Inc.,
- Avery Dennison Corporation,
- Checkpoint Systems, Inc.,
- Honeywell International Inc
- iDTRONIC GmbH
- Impinj Inc.
- Invengo Technology Pte. Ltd.
- Zebra Technologies Corporation
- NXP Semiconductors N.V.
- Ensurge Micropower ASA
- SATO Holdings Corporation
Notable Emerging Companies Mentioned in the Report
- Infotek Software & Systems (P) Ltd.
- Omni-ID
- Nedap N.V.
- Datalogic S.p.A.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Chipless Radio Frequency Identification Manufacturers
- Healthcare Chipless Radio Frequency Identification Suppliers
- Government and Policy Makers
- Regulatory Authorities in Chipless Radio Frequency Identification
- Chipless RFID Raw Material Suppliers
- Consulting Companies in the Chipless Radio Frequency Identification Market
- Automotive Industry Chipless Radio Frequency Identification Suppliers
- BFSI Industry Chipless Radio Frequency Identification Suppliers
- Retail Industry Chipless Radio Frequency Identification Suppliers
- Logistic & Transport Industry Chipless Radio Frequency Identification Suppliers
- Investors
- Research Institutes
- Technology Investors
- Private Equity Firms, and venture capitalists
- Transport & Logistic RFID manufacturers
- Plastic Material Suppliers
- ETC Solution Providers
- Supermarkets and Hypermarkets
Time Period Captured in the Report
- Historical Period: 2017H-2021H
- Forecast Period: 2022E-2028F
For more insights on the market intelligence, refer to the link below:-
Global Chipless Radio Frequency Identification market
