Chipless RFID market is projected to expand at a CAGR of 30.41% to reach the total market size of US$11.163 billion by 2022, from US$2.959 billion in 2017. These RFIDs are witnessing high adoption rate on account of advantages like cost elimination associated with tags and higher operational efficiency. The need for enhancing inventory management in retail and logistics sector through asset tracking and security of products are some of the key features driving the market growth. Prevention of counterfeit products and the need for document management in government and healthcare sector is also boosting the demand for these RFID solutions over the forecast period.
By End-User Industry
By end-user industry, Global Chipless RFID market is segmented as retail, aerospace and defense, travel and transport/logistics, and healthcare. Retail accounted for the largest market share in 2016 owing to the increased use of chipless RFID for stock tracking, supply chain management, reverse logistics, and check product availability. Growing need for omnichannel retailing is further augmenting the demand for chipless RFIDs in the retail sector. Transport and logistics sector will also witness a significant market growth during the forecast period due to a rapid adoption of chipless RFIDs in vehicles and logistics activities such as warehousing and distribution. Growing global 3PL industry will further bolster the growth of chipless RFID market in the coming years.
Geographically, North America held the largest market share in 2016 owing to a large number of global players present in the region coupled with the early adoption of technology across various industries in the U.S. and Canada. Companies are using this technology to make their supply-chain management effective and efficient in order to increase inventory visibility. Furthermore, stringent regulations regarding anti-counterfeit measures are also contributing to the market growth of chipless RFIDs in North America. FDA and U.S. Department of Defense have encouraged the use of RFID tags for supply chain management for tracking and tracing products.
Prominent key market players in Chipless RFID market include Alien Technology, Zebra Technologies, Intermec, Thin Film, and Confidex among others. The global chipless RFID industry is highly competitive owing to its low manufacturing costs. Companies are competing for product innovation and significant investment in R&D activities.
In this report, Chipless RFID market is segmented by product, end-user industry, and geography as below:
- By Product
- By End-User Industry
- Aerospace and Defense
- Travel and Transport/Logistics
- By Geography
- North America
- South America
- Europe Middle East and Africa
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
Key questions answered by the report
- What will be the Chipless RFID market size from 2017 to 2022?
- How are the major drivers and restraints affecting the Chipless RFID market growth and the opportunities which exist for key vendors?
- Which segment and region will drive or lead the market growth and why?
- A comprehensive analysis of competitive landscape and key market participants’ behavior
- Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth