The global chipless RFID Market is estimated to be valued at US$ 1,176.7 Mn in 2022 and is expected to exhibit a CAGR of 28.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Chipless RFID technology uses the wireless communication of radio frequency waves to identify and track objects without embedding an integrated circuit or chip. These RFID tags are much cheaper to produce as compared to traditional RFID tags. The technology is gaining popularity across industries due to its low manufacturing cost.
Market key trends:
One of the major trends driving the growth of the chipless RFID market is the rising demand for low-cost RFID tags from various industries. Industries such as manufacturing, logistics, and retail are increasingly adopting chipless RFID technology to maximize operational efficiency and reduce costs. With no integrated circuit, chipless RFID tags can be produced on a very large scale through techniques like printing, further driving their cost down significantly. This makes chipless RFID an affordable solution for tagging large numbers of items with minimal budget impact.
Segment Analysis
The global chipless RFID market is segmented by tag type into tag and transitional chips. Among these, the tag segment held the largest market share in 2022, accounting for around 60% share. Tags provide simplified and miniaturized RFID technology, thereby enabling easier embedding into various objects. They also offer advantages such as low manufacturing cost and passive nature. These factors have driven their demand over transitional chips in recent years.
Key Takeaways
The Global Chipless RFID Market Size is expected to grow at a CAGR of 28.1% over the forecast period due to increasing demand for contactless identification solutions across industries. North America holds the largest share currently due to advanced technologies and focus on supply chain management. However, APAC is likely to offer lucrative opportunities with growing e-commerce, manufacturing and major initiatives such as 'Make in India'.
Key players operating in the chipless RFID market incorporate 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. The players focus on new product innovations as well as mergers and acquisitions to strengthen their footprint. For instance, in September 2022, Zebra Technologies Corporation launched a high performance wristband printer catering to supply chain and warehouse applications.
Regional analysis
The Asia Pacific region is expected to witness the fastest growth in the chipless RFID market during the forecast period. This is attributed to presence of manufacturing hubs and growing initiatives for industrial automation across industries such as pharmaceuticals, logistics and food processing in major Asian countries including China, India and Japan. The region represents over 25% of the global market share currently due to focus on smart logistics, supply chain traceability and asset management solutions.
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