Printed and Chipless RFID Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global printed and chipless RFID market is expected to reach
USD 15.3 billion by 2022, according to a new study by Grand View Research, Inc.
Development of affordable tags owing to simplified manufacturing technology and
decreased manufacturing time have contributed significantly to chipless RFID
market growth over the forecast period. Compatibility with existing
infrastructure with equal efficiency as chip-based tags saves the additional
cost of new system installation.
Suppliers have realized the
need for efficient solutions in various applications such as smart cards,
supply chain, pharmaceutical, and retail. The pharmaceutical industry is
replacing chip-based tag with chipless tags due to high unit prices, which is
expected to favorably impact the industry.
Chipless RFID provides
various solutions including anti-counterfeiting and asset tracking to avoid
theft in retail. Government initiatives for e-passports, increasing electronic
transactions, dynamic conditions in the aviation industry, and increased
revenue by customer delights are some of the drivers expected to favorably
impact chipless RFID market growth.
High initial cost of system
implementation is expected to pose a challenge to technology adoption.
Implementation cost is anticipated to decrease over the next few years owing to
technological advancement and increase in players offering solutions at
competitive prices.
Further key findings from the study suggest:
- Growth in public transit industry is
expected to drive printed and chipless RFID market demand in
transportation applications. In these applications, use of contact and
contactless smart
cards increases the operational efficiency of the overall
transportation system and saves travel time. Contact-based cards need to
have a physical contact with the reader; however, they can be placed in
close proximity of the reader to initiate the communication process.
- In retail, the technology is used for
stock tracking, supply chain management, check product availability,
reverse logistics and reducing loss due to shrinkage. The segment
contributed to over 25% of the global revenue in 2014.
- Government departments in collaboration
with other agencies have initiated research and development projects. Asia
Pacific printed and chipless RFID market is expected to exhibit CAGR of
over 30% from 2015 to 2022, primarily due to high growth prospects in
regions such as China and India.
- Zebra Technologies acquired Motorola
Solutions Enterprise Business in October 2014. Through this acquisition,
Zebra has gained Motorola’s mobile computing, bar coding, card printing,
cloud-based devices, and RFID hardware businesses. The global industry
comprises other notable players include Impinj Corporation, Alien
Technology, Intermec, and TAGSYS.
- Players in the industry practice high
degree of innovation to offer unique solutions. Key competitive factors
include the design, breadth, and quality of products and services, warranty
coverage, product and service availability, product performance, brand
recognition, company relationships with customers, and go-to-market
channel partners and company reputation.
Access full research report on global printed
and chipless RFID market:
www.grandviewresearch.com/industry-analysis/chipless-rfid-radio-frequency-identification-market
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Created on Apr 8th 2020 05:50. Viewed 233 times.