Chipless RFID Market Is Expected To Witness CAGR Of 23.6% During 2019-2027

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Market Overview

• A chipless RFID is a type of RFID tag that does
  not use microchip transponder, instead it uses
  radiofrequency (RF) energy to communicate data.
  Some of the chipless tags use conductive polymers
  or plastics instead of silicone microchip,
  wherein these chipless tags are digitally encoded
  and work at one-millimeter range. Furthermore,
  chipless RFID tags have features such as
  magnetically encoded stripe in banknotes, unique
  signature, and microwave reflecting fiber. These
  tags are predominantly used in e-passport,
  banking cards, and item-level tagging. The
  chipless RFID tags are used for asset tracking,
  smart tickets, anti-counterfeiting, animal
  tracking, air baggage, and high volume secure
  documents.

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• The Global Chipless RFID Market, by Component
  Type (Direct Thermal and Thermal Transfer), by
  Industry (Retail Consumer Goods, Logistics
  Manufacturing, Healthcare, Government, Aerospace
  Defense, and Others), and by Geography (North
  America, Europe, Asia Pacific, and Latin America,
  Middle East Africa) - Global Forecast to
  2027, is expected to be valued at US 5,190.6
  million by 2027, witnessing a CAGR of 23.6
  during the forecast period (2019-2027), as
  highlighted in a report published by Coherent
  Market Insights.

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Market Dynamics- Drivers

• Growing demand for chipless RFID tags in banking
  and healthcare sector is expected to drive the
  global chipless RFID market during the forecast
  period
• Various industries such as healthcare and the
  BFIS sector are adopting chipless RFID tags to
  keep track of their products. These chipless RFID
  tags are relatively less expensive since they do
  not have silicone chip and do not require
  maintenance operations. Thus, these factors have
  increased the adoption of chipless RFID tags in
  passports and banking cards. Moreover several
  companies significantly adopting chipless RFID
  due to its cost-efficient and anti-counterfeiting
  properties, which in turn, is expected to boost
  the global chipless RFID market growth during the
  forecast period. 

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• Low cost of manufacturing is expected to propel
  growth of the global chipless RFID market over
  the forecast period
• Manufacturing of chipless RFID tag is relatively
  inexpensive as it does not require silicone chip
  or any batteries inside the tag for product
  tracking which decreases the prices of these
  tags. Moreover, these tags do not have specific
  applications, hence they can be used in numerous
  industries. These tags are printed with help of
  inkjet printers, which is comparatively cheaper
  and allows time for multiple tag printing, making
  the entire manufacturing process easy and
  simplified. This, in turn, is expected to propel
  the market growth over the forecast period.

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• North America region dominated the global
  chipless RFID market in 2018, accounting
  for 38.9 share in terms of value, followed by
  Europe, Asia Pacific, Latin America, and MEA,
  respectively.

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Market Dynamics- Restraints

• Risk associated with breach of confidential
  information is expected to restrain growth of the
  global chipless RFID market during the forecast
  period
• Despite its numerous advantages, chipless RFID
  does not have locking system or security
  passcode, which increases the risk of information
  breach. Many companies in healthcare and other
  industries often avoid using chipless RFID tags
  for asset tracking due to risk associated with
  information breach related to usage of medicine
  and its composition. These factors are expected
  to hinder its adoption and thereby restrain the
  global market growth over the forecast period.

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• Issues associated with data characteristics of
  chipless RFID are expected to hinder growth of
  the global chipless RFID market over the forecast
  period
• One of the major issues with chipless RFID is the
  data collected through these tags have only two
  identifiers, i.e. reader and middleware. It also
  has single timestamp, due to which the data
  becomes pointless without other information. When
  vast amount of data is gathered through these
  tags, it is stored in database, which includes
  observations that are not useful. Furthermore, in
  some cases, these tags generate incorrect
  observations, resulting in duplicate and wrong
  anomalies thereby negatively affecting the sale
  of a product. Hence, these issues related to data
  characteristic are expected to hamper the market
  growth in the near future.

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Market Opportunities

• Integration of sensors in chipless RFID tags is
  expected to pose lucrative business opportunities
• Chipless RFID is a combination of communication
  technologies and sensors that help companies to
  tack their asset and manage shipment for their
  products. Key companies in the market are focused
  on research and development activities, in order
  to innovate novel products, owing to increasing
  use of chipless RFID in numerous industries.
  Moreover, various manufacturers in the market are
  developing sensors that can withstand factors
  such as pressure, moisture, temperature, and
  other with RFI. This, in turn, is expected to
  pose lucrative business opportunity for market
  players.

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• Innovation of cloud-based system is expected to
  present excellent growth opportunities
• Manufacturers can combine cloud-based
  applications for various sectors such as retail
  and logistics, in order to combine with chipless
  RFID tags. These tags are majorly used in
  healthcare, logistics, retail, manufacturing, and
  other sectors. Deployment and management of data
  recorded on chipless RFID tags is challenging,
  thus, integration of cloud-based applications
  with chipless RFID tags can assist in providing
  central management without increasing deployment
  cost.

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• Global RFID tags market was valued at US 323.6
  Mn market in 2018 and is forecasted to reach a
  value of US 3,145.5 Mn by 2027 at a CAGR of
  27.9 between 2017 and 2027.

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Market Trends

• Technological advancements printed electronics is
  a major trend in the market
• Development of novel technologies in printed
  electronics has aided RFID developers to create
  thin and flexible RFID tags. These tags can be
  combined thin-film photovoltaic solar cells,
  printed sensors, and other technologies.
  Furthermore, growing use of ink technologies and
  electronic printing is expected to support RFID
  developers to print their own chipless RFID tags
  onsite as per demand. Numerous key players in the
  market are focused on 3D printing technology for
  companies, in order to directly print RFID tags
  and on/in products. Therefore, constant
  development in printed electronics is expected to
  boost the demand for chipless RFID tags in the
  near future.

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• Growing adoption of chipless RFID tags in retail
  sector is another key trend
• Retail sector is increasingly adopting chipless
  RFID tags in its retail chain and stores, thereby
  driving the global chipless RFID market growth.
  In the retail sector, chipless RFID tags in
  item-level tagging and smart shelves. Smart
  shelves are designed with built-in RFID reader
  system and raise an alarm whenever the stock on
  the shelf is lower, thereby preventing situations
  such as out-of-stock. Furthermore, in item-level
  tagging, consumers can view details of tagged
  products by scanning them. This eventually saves
  time and personnel at work. For instance, in
  Germany, Metro AG, a supermarket chain,
  implemented RFID in its supply chain due to which
  its suppliers, distributors, and other middlemen
  use RFID enabled logistic unit for recording each
  and every detail of the inventory.
• .

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Segment Information

• In Global Chipless RFID market, by industry
  segment, the retail consumer goods sub-segment
  dominated the global market in 2018, accounting
  for 42.8 share in terms of value, followed by
  logistics manufacturing, healthcare,
  government, aerospace defense, and others,
  respectively.

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Competitive Section

• Key companies operating in the global chipless
  RFID market are Zebra Technologies Corporation,
  Spectra Systems, Molex Inc., Xerox Corporation,
  Politronica Inkjet Printing S.r.l., Vubiq
  Networks Inc., Thin Film Electronics ASA, and
  TagSense Inc.

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Key Developments

• Major market players are focused on partnerships
  and collaborations, in order to gain competitive
  edge in the market. For instance, in January
  2017, Thin Film entered into partnership with
  Beneli AB, which is a self-adhesive label and
  related solution provider based in Europe. Thin
  Film and Beneli are collaborating to deliver Thin
  Films NFC solutions with SpeedTap and Open
  Ensenada tags that are supported by a cloud-based
  software platform.
• Key companies in the market are involved in
  product development, in order to enhance their
  market presence. For instance, in January 2019,
  Vubiq Networks Inc. developed Millimeter Wave
  RFID Hyperimaging System.

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