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

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

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


1
Coherent market insightsMarket Research and
Business Consulting Services
https//www.coherentmarketinsights.com/market-insi
ght/chipless-rfid-market-3367
2
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.

3
  • 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.

4
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. 

5
  • 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.

6
  • 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.

7
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.

8
  • 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.

9
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.

10
  • 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.

11
  • 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.

12
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.

13
  • 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.
  • .

14
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.

15
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.

16
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.

17
  • Request Sample Report
  • Request Customization
  • Download PDF Brochure
  • Talk to Analyst
  • https//www.coherentmarketinsights.com/market-insi
    ght/chipless-rfid-market-3367

18
About Us
  • Coherent Market Insights is a global market
    intelligence and consulting organization focused
    on assisting our plethora of clients achieve
    transformational growth by helping them make
    critical business decisions.
  • What we provide
  • Customized Market Research Services
  • Industry Analysis Services
  • Business Consulting Services
  • Market Intelligence Services
  • Long term Engagement Model
  • Country Specific Analysis

19
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