Chipless RFID Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation

Chipless RFID Market size was valued at USD 1.48 Bn. in 2022 and the total Chipless RFID Market revenue is expected to grow at 29% from 2023 to 2029, reaching nearly USD 8.80 Bn.
Market Overview:
A Chipless RFID is a form of RFID tag that transmits data using radiofrequency (RF) radiation rather than a microchip transponder. Some Chipless tags operate at a one-millimetre range and utilize digitally encoded conductive polymers or plastics in place of silicone microchips. Additionally, Chipless RFID tags have characteristics like the magnetically-encoded banknote stripe, a distinctive signature, and microwave reflecting fiber. The main applications for these tags are item-level tagging, financial cards, and e-passports. Chipless RFID tags are utilized for high-volume secure documents, air baggage, smart ticketing, anti-counterfeiting, animal tracking, and asset tracking.

Owing to its huge data carrying capacity, adaptability in the application, and flexibility in its working during the forecast period, Chipless Radio Frequency Identification (RFID) has emerged as one of the most cutting-edge and fast-growing technologies. It is expected to replace the optical barcode. Generally speaking, Chipless tags are RFID tags without silicon chips. RFID systems have been effectively used in manufacturing, logistics, supply chain, healthcare, and transportation.
Report Scope:
The research on Chipless RFID offers a quantitative study of the market drivers, restraints, trends, and estimations. The ability of buyers and suppliers to make profit-driven strategic decisions and grow their supplier-buyer networks is demonstrated by Porter's five forces study. The present Chipless RFID market potential can be ascertained with the use of thorough analysis, market size, and segmentation. Investors will receive a clear futuristic vision of the industry from the study, which also contains the elements expected to have an impact on the firm either positively or adversely.

For the stakeholders looking to invest in the market, the report provides a thorough insight of the market. This research includes past and present Chipless RFID industry scenarios along with estimated market sizes. The research of key players, which includes market leaders, followers, and new entries, in-depth in the report covers all market facets. It includes strategic profiles of the leading market players, a thorough analysis of their core capabilities, and their business-specific strategies for new product launches, growth, agreements, joint ventures, partnerships, and acquisitions.

The research serves as an investor's guide with its clear representation of competitive analysis of important companies by product, price, financial condition, product portfolio, growth strategies, and regional presence in the domestic as well as local market.To know about the Research Methodology :- Request Free Sample Report
Chipless RFID Market Dynamics:
Market Drivers:

Chipless RFID tags are being used by several businesses, including the healthcare and BFIS sectors, to track their products. Since they don't have silicone chips and don't need maintenance, these Chipless RFID tags are significantly less expensive. As a result, these elements have accelerated the use of Chipless RFID tags in passports and credit cards. Owing to its low cost and anti-counterfeiting capabilities, Chipless RFID is also being widely adopted by a number of businesses, which is expected to propel the growth of the Chipless RFID market during the forecast period.

The market is growing owing to elements like high precision, low manufacturing costs, and offering more features than competing products. Since all nearby Chipless RFID tags can be instantly recognised and their data compared to the system database. As a result, it offers great accuracy and reduces human mistakes and effort. Additionally, Chipless RFID technology offers a number of characteristics, such as read/write capabilities, automation, and the ability to individually identify each asset or item.

Market Restraints:

The Chipless RFID market's growth is expected to be hampered by the risk of information breaches during the forecast period. Despite all of its benefits, Chipless RFID has an increased risk of a data breach because it lacks a locking system or security passcode. Owing to the potential of data breaches involving the use of medications and their composition, many businesses in the healthcare and other sectors frequently avoid employing Chipless RFID tags for asset tracking. During the forecast period, these factors are expected to hamper its acceptance and consequently limit the growth of the market.

During the forecast period, problems related to Chipless RFID's data properties are expected to impede the market growth. One of the main problems with Chipless RFID is that there are only two identifiers for the data acquired by these tags: reader and middleware. Additionally, the data only comprises a single timestamp, which renders it useless in the absence of other details. When a large amount of data is collected using these tags, it is saved in a database together with observations that are useless. Additionally, in some instances, RFID tags produce inaccurate observations, leading to duplicate and incorrect abnormalities and severely affecting a product's sale. Therefore, it is expected that these problems with data characteristics would slow market growth in the near future.

Market Opportunity:

Chipless RFID is a combination of communication and sensor technologies that aid businesses in tracking their assets and managing product shipments. Because Chipless RFID is being utilized more often across a wide range of industries, major market players are concentrating on research and development activities in order to develop unique products. Additionally, a number of businesses are working to create sensors that survive elements including pressure, moisture, temperature, and RFI. For market participants, this should present a significant economic opportunity.

Chipless RFID tags are combined by manufacturers with cloud-based applications for numerous industries, including retail and logistics. Healthcare, logistics, retail, manufacturing, and other industries make extensive use of these tags. Since it is difficult to deploy and manage data stored on Chipless RFID tags, integrating cloud-based apps with these tags might help provide central management without raising deployment costs.
Chipless RFID Market Segment Analysis:
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 recognized and their data 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 applied in a variety of industries. Tags are created using inkjet printers, which are more affordable and enable the printing of several tags at once, making it simple to manufacture these tags. This is another aspect that is expected to fuel the RFID tags market's growth.Based on the Application, The Smart Cards segment is expected to grow at the highest CAGR during the forecast period. Smart cards offer a number of advantages, including low cost, secure data, data tracking, flexibility, and ease of use. Owing to the recent introduction of additional security and privacy concerns for enhanced smart card security applications, the demand for smart cards has been increasing yearly with applications in many end-use sector markets.

Based on the End-user Industry, The Healthcare segment is expected to grow at the highest CAGR during the forecast period. Chipless 2GRFID-Sys incorporates various wireless networking technologies for e-healthcare, including wireless body area networks and wireless LANs that use body sensors to track patients' medical status. This aids in action management and diagnosis support. Additionally, Chipless 1G-RFID-Sys are being used in the patient's ID to keep track of an ambulatory patient who run into trouble while travelling to a site outside of his or her hometown.

These Chipless 1G-RFID-Sys tags aid in determining how the issue developed based on the patient's medical background. Additionally, there is a surge in drug counterfeiting as a result of healthcare personnel' lack of vigilance and advocacy, lack of legal protection, and lack of technology to identify genuine drugs. In many healthcare sectors, the R&D department is working to develop Chipless RFID devices because traditional RFID with barcode technology cannot stop the sale of fake medications. These inexpensive devices might be used to fight this pervasive and pressing problem in the healthcare sector.

Packaging suppliers including BASF, Avery Dennison Group, and Constantia Flexibles Group are making substantial efforts in smart packaging levels that encourage serialization as the pharmaceutical industry transitions to contract packaging. The future of Chipless RFID is expected to be prominent given the industrial focus.

 

Chipless RFID Market Regional Insights:

North America currently holds the top spot in the Chipless RFID Market, Owing to major retailers like Walmart implementing Chipless RFID technology in their supply chains. To improve asset tracking in a practical way, the majority of U.S. retail businesses are using Chipless RFID tags. Manufacturers of fashion garments, consumer electronics, and cultural items are implementing Chipless RFID tagging technology in the market, which enhances the shop management system and propels market growth.

Asia-Pacific is expected to experience the fastest growth. Many businesses are making investments in China to transform the nation's retail sector. For instance, Tencent demonstrated the operation of unmanned retail in April wherein the RFID chip will scan the item if a client snatches it from the store and exits, sending the bill to the customer's WeChat application. In addition, Japan intends to use RFID technology to create the next-generation in-store experience. For instance, Seven-Eleven Japan announced the rollout of the next-generation self-checkout in April. Additionally, the Chipless RFID market is being driven by the rising per capita income and growing demand for products like smart watches in India. In India, where there is a growing need for portable electronic gadgets, printed and Chipless RFID is being used more and more, which is influencing the market growth.
Chipless RFID Market Scope: Inquire before buying



Chipless RFID Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 1.48 Bn.


Forecast Period 2023 to 2029 CAGR:
29%
Market Size in 2029:
US $ 8.80 Bn.


 Segments Covered:
by Product Type
1. Tag
2. Reader
3. Middleware


by Application
1. Smart Cards
2. Smart Tickets
3. Other


by End-user Industry
1. Healthcare
2. Retail
3. Logistics and Transportation
4. BFSI
5. Other



Chipless RFID Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Chipless RFID Market Key Players
1. Alien Technology, LLC.
2. Applied Wireless, Inc.,
3. Avery Dennison Corporation,
4. Checkpoint Systems, Inc.,
5. iDTRONIC GmbH
6. Impinj
7. Zebra Technologies Corporation
8. Xerox Corporation
9. Thin Film Electronics ASA
10. Spectra Systems
11. Smiths Detection
12. Tag Sense Inc.
13. Politronica Inkjet Printing S.r.l.
14. Molex Inc.
15. Honeywell International Inc.
16. NXP Semiconductors N.V.
17. Invengo Technology Pte. Ltd.
18. Sato vicinity pty ltd.,
19. Caen rfid s.r.l.,
20. Zih corp,
21. GlobeRanger,

Frequently Asked Questions:

1] What segments are covered in the Global Chipless RFID Market report?
Ans. The segments covered in the Chipless RFID Market report are based on Product Type, Application, End-user Industry and Region.

2] Which region is expected to hold the highest share in the Global Chipless RFID Market?
Ans. The North America region is expected to hold the highest share in the Chipless RFID Market.

3] What is the market size of the Global Chipless RFID Market by 2029?
Ans. The market size of the Chipless RFID Market by 2029 is expected to reach US$ 8.80 Bn.

4] What is the forecast period for the Global Chipless RFID Market?
Ans. The forecast period for the Chipless RFID Market is 2022-2029.

5] What was the market size of the Global Chipless RFID Market in 2022?
Ans. The market size of the Chipless RFID Market in 2022 was valued at US$ 1.48 Bn.