A05567 | Pages: 250 | Jan 2021 | 5987 Views | ||
Author(s) : N Kundan, Asavari Patil , Vineet Kumar | Tables: 136 | Charts: 72 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Chipless Rfid Market
Request Now !The global chipless RFID market size was valued at $903.3 million in 2019, and is projected to reach $4,744.0 million by 2027, to register a CAGR of 23.1% from 2020 to 2027.
The retail segment in Global Chipless RFID Market is expected to attain positive growth due to increasing automation and wireless operations to maintain minimum contact..
Radio frequency identification (RFID) without a silicon IC are called chipless RFID. It is an evolving wireless technology for access controls, automatic identifications, security & surveillance, tracking, database management, logistics, and inventory control. It uses conductive polymers or plastic as a replacement for silicon-based ICs.
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The chipless RFID is a breakthrough in overcoming the restrictions of traditional RFID technology as it eliminates the expense related with the silicon IC chip in the circuit. Also, the chipless RFID is completely printable and in this way it is resistant to very harsh and climate conditions. It can also be imprinted on metals & bottles containing fluids. The key advantages of these features grant chipless RFID in extraordinary applications that couldn't be accomplished beforehand with both chipped and barcode RFIDs. A few examples include low-cost item tagging such as, for ID cards, banknotes, drink containers, books, aluminum cans, and customer merchandise. A chipless RFID tag is also used as a chipless RFID sensors in offering low-priced sensors for realizing the universal networks required by the IoT paradigm. A chipless RFID sensors is mainly used for detection of CO2.
The idea of chipless RFID has been created with rivaling barcodes in specific regions of application. Chipless RFID has numerous benefits, such as low cost, easy to use, and others. The barcode provides single feature of ID recovery, but the technology is time-tasted, and widespread.
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 the chipless RFID market. Since, all chipless RFID tags within range can be detected instantaneously & checked with data in system database. Thus, it reduces human error & effort and provides high accuracy. Additionally, chipless RFID technology provides various functionalities such as chipless RFID tags are read/write capable, automated, uniquely identifies each item or asset, among others. However, initially high capital investment is a major restraint to global chipless RFID industry. In addition, growing shift of retailers toward chipless RFID is expected to create opportunities for the
global market.
The global chipless RFID market is segmented into product type, frequency, application, end user, and region. By product type, the market is segmented into tag, and reader. The frequency segment is divided into low frequency, high frequency, and ultrahigh frequency. By application, the market is fragmented into smart cards, smart tickets, and others. Depending on end user, the market is segregated into retail, healthcare, logistics and transportation, BFSI, and others.
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Region wise, the chipless RFID market trends are analyzed across North America (U.S., Canada, and Mexico), Europe (UK, Germany, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). APAC region is expected to develop at highest rate during the conjecture time frame. APAC region, specifically China remains a significant participant in the global supply chain market, organizations in the country are intensely putting resources into the technology; for example, usage of RFID labels in logistic sector to improve the production network market in the country. In January 2018, Taocafe, China based organization introduced smart store, where individuals buy RFID labels connected to the item & can check out via WeChat Pay. Comparable smart stores were opened by Alibaba, JD.com, & Tencent in the China market. In this way, owing to high adoption of chipless RFID products, in the APAC market indicating positive effect on the global chipless RFID market.
Leading chipless RFID manufacturer such as Zebra Technologies Corporation, Alien Technology, LLC, Honeywell International Inc., etc. are focusing their investment on technologically advanced, cost-effective and more secure products for various applications.
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The prominent factors that impact the chipless RFID market growth are increased efficiency offered by chipless RFID tags, low cost of manufacturing, and rise in demand for chipless RFID tags in the healthcare & banking sector. However, data encoding and transmission while designing chipless RFID restrict the market growth. On the contrary, growing shift of retailers toward chipless RFID & innovation of cloud-based system is expected to create lucrative opportunities for the market. Every one of these elements is expected to affect the development of the global chipless RFID market during the forecast time frame.
Competitive analysis and profiles of the major chipless RFID market players such as Alien Technology, LLC., Applied Wireless, Inc., Avery Dennison Corporation, Checkpoint Systems, Inc., Honeywell International Inc., iDTRONIC GmbH, Impinj, Inc., Invengo Technology Pte. Ltd., NXP Semiconductors, and Zebra Technologies Corporation.
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Covid-19 Impact Analysis
Key Benefits For Stakeholders
Key Market Segments & Key Market Players
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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. 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.
The key players of the market focus on introducing technologically advanced products to remain competitive in the market. Product launch, acquisition, collaboration, and partnership are expected to be the prominent strategies adopted by the market players.
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