Chipless RFID Market is Expected to be Dominated by North America Until 2028

Increased efficiency offered by chipless RFID tags and rise in demand for chipless RFID in the banking & healthcare sector are expected to drive the global Chipless RFID market during the forecast period, 2024-2028.

According to TechSci Research report, “Chipless RFID Market – Global Industry Size, Share, Trends, Opportunity, and Forecast. 2018–2028F”, the global chipless RFID market is experiencing significant growth during the forecast period. The cumulative need among the companies for supply chain visibility and supply management is driving the industry demand. The cost of the tag is also predicted to go down over the forecast period. The transportation industry is anticipated to increasingly adopt this technology over the next coming years, owing to lower costs and increased services as compared to other substitutes.

Moreover, technological advancement is anticipated to bring down the cost of solution implementation over the forecast period. Radio-Frequency Identification Technology system suggests several advantages to companies for stock control, such as the remote reading of tags, which have unique identification codes for tracking individual products. Several types of tags can be overwritten, which permits the reading of several tags simultaneously and allows an entire pallet-load of products to be checked at the same time.

The mounting accessibility of fake items, particularly in healthcare applications, is expected to negatively influence the end-use market. To save the brand image and inhibit the adverse effect of fake drugs, pharmaceutical companies have started implementing RFID technologies to increase visibility across the value chain. This not only aided companies in operational effectiveness but has also assisted companies track their products.

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Global Chipless RFID market is segmented into product type, component type, frequency, application, end user, and region. Based on product type, the market is segmented into tag and reader. Based on component type, the market is segmented into direct thermal and thermal transfer. Based on frequency, the market is segmented into low frequency, high frequency, and ultrahigh frequency. Based on application, the market is segmented into smart cards, smart tickets, and others. Based on end user, the market is segmented into retail, healthcare, logistics and transportation, BFSI, and others. Based on region, the market is segmented into Europe, North America, Asia-Pacific, South America, and Middle East & Africa.

Based on product type, the tag segment is expected to grow at the highest CAGR during the forecast period. All Chipless RFID tags can be instantly identified, and their data can be compared with the system database. Thus, it gives excellent accuracy while minimizing human mistakes and effort. Additionally, Chipless RFID technology offers several features like the ability to read and write, be automated, and individually identify each asset or item. Because it doesn't require batteries or silicon chips inside the tag for asset monitoring, this technology is referred to as low-cost manufacturing technology, which lowers the cost of these tags.

Additionally, because Chipless RFID tags are not application specific, they can be employed in a variety of businesses. Tags are formed with inkjet printers, which are more reasonable and enable the printing of numerous tags at once, making it simple to manufacturing these tags. This is another feature which is expected to fuel the RFID tags market's growth.

Based on application, the Smart Cards segment is anticipated to grow at the highest CAGR during the forecast period. Smart cards have several advantages, including low cost, secure data, data trailing, tractability, and ease of use. Due to the current introduction of additional security and privacy unease for increased smart card security applications, the demand for smart cards has been increasing annual with applications in many end-use sector marketplaces.

Major market players operating in the global Chipless RFID market are:

• NXP Semiconductors
• Honeywell International Inc.
• Zebra Technologies Corp.
• Alien Technology, LLC.
• Impinj Inc
• Invengo Information Technology Co., Ltd
• Checkpoint Systems, Inc.
• Avery International Corporation
• Applied Wireless RFID
• Tag Sense Inc.

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“Global Chipless RFID market is expected to increase considerably, mainly owing to the cumulative number of retail muggings, as well as its mounting applications in the packaging business. Consumer businesses have commenced using chipless RFID systems to make certain data recording and inventory supervision. Furthermore, the growing usage in the banking and healthcare sector is also expected to drive up the demand for the chipless RFID market. Moreover, North America region has been stated to have the leading market share, due to its rapid implementation of RFID technology by businesses and is expected to further grow during the forecast period.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“Chipless RFID Market- Global Industry Size, Share, Trends, Opportunities, and Forecast 2018-2028F,”

Segmented By Product Type (Tag and Reader), By Component Type (Direct Thermal, Thermal Transfer), By Frequency (Low frequency, High frequency, and Ultrahigh frequency), By Application (Smart Cards, Smart Tickets, and Others), By End User (Retail, Healthcare, Logistics and Transportation, BFSI, and Others), By Region, Competition”, has evaluated the future growth potential of global Chipless RFID market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Chipless RFID market.

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