Chipless RFID Market to Witness Comprehensive Growth by 2027

A chipless RFID is a form of RFID tag which doesn't use a microchip transponder and instead allows radio frequency (RF) energy to transmit data. Several of the chipless tags include conductive polymers or plastics rather than silicon microchip, in which these chipless tags are digitally encoded and operate within a range of one millimeter. In addition, chipless RFID tags have features including such as magnetically encoded banknote stripes, special signatures, and microwave reflecting fiber. These tags are mainly used in e-passports banking cards and item-level tags. Chipless RFID tags are used for asset tracking, smart tickets, anti-counterfeiting, animal tracking, air luggage, and high-volume protected papers.

The global demand for chipless RFID is projected to be USD 955.3 million in 2019 and is projected to rise at a CAGR of 24.0 per cent over the 2020-27 forecast years.

Opportunities for the market:

  • The low price of chipless RFIDs compared to barcodes may provide potential growth opportunities.
  • Growing shifts of retailers to RFID can offer excellent economic opportunities

Key Takeaways:

The APAC region is the strongest region in the global chipless RFID market and is projected to experience substantial growth over the 2020-27 forecast years. The APAC area in particular China, remains a key player in the global supply chain market, with companies in the country participating heavily in technology such as RFID tags to boost the supply chain market in the country. For example, in January 2018, Taocafe, a Chinese-based company, launched a smart store where people buy RIFD devices connected to the product and can check it out using WeChat Pay. Similar smart stores have been opened in the Chinese market by Alibaba, Tencent, and JD.com. Therefore the APAC market has a positive influence on the global market for chipless RFID.

Among Component Sort, the RFID tags segment is anticipated to lead the global market for chipless RFID over the 2020-27 forecast years. This is due to the large application of RFID tags from the retail sector to healthcare and logistics & manufacturing. In Logistics & manufacturing RFID tags, it is possible to monitor the location of goods from the manufacturing plant to the end consumer. As a result, several key players in the industry are creating RFID tags for the logistics & manufacturing sector. For example, Kit Search, Inc., a US-based automated drug management company, entered into a strategic alliance with Avery Dennison Corporation, a US-based materials science and manufacturing company, in March 2019. Through this collaboration, both companies are creating RFID tags for pharmaceutical companies to monitor drug packages. This allows pharmaceutical firms to track drugs from manufacturing to hospitals.

Among Industry Type, Healthcare, the industry is estimated to provide huge opportunities for the global chipless RFID market in the 2020-27 forecast years. This is due to the introduction of RFID tags for the e-health industry. RFID tags can be attached to the internet, and then body sensors are used to continuously track patients' health. This data is also used to aid the early detection of disease. In addition, the pandemic scenario, such as Covid 19, allows early identification of disease and records and controls the activity of patients. Health care could provide a lucrative opportunity for the global demand for chipless RFID.

Key players:

The Major players involved in the global chipless RFID market include:

  • TagSense Inc.
  • Zebra Technologies Corporation
  • Xerox Corporation
  • Thin Film Electronics ASA
  • Spectra Systems
  • Vubiq Networks Inc.
  • Molex Inc.
  • Politronica Inkjet Printing S.r.l.

To More Information about Chipless RFID Market: https://www.globenewswire.com/news-release/2020/05/27/2039397/0/en/Chipless-RFID-Market-to-reach-US-5190-6-Million-globally-by-2027-Coherent-Market-Insights.html