Chipless Radio Frequency Identification Devices Market Research Report by 2023
Globally, chipless radio frequency identification devices market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of chipless radio frequency identification devices.
(firmenpresse) - The global chipless radio frequency identification devices market is expected to display higher growth rate over the coming years. Rapid surge in the market is credited to the rising demand from transport & logistics sector, and current advancements in nanotechnology. Increasing retail applications is expected to drive the growth of the market over the forecast period. Globally, chipless radio frequency identification devices market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for industry participants to invest in research and development of chipless radio frequency identification devices.
Increasing use of chipless radio frequency identification devices in transport sector for contactless and contact smart cards, which enhance operational efficiencies and saves commute time, is anticipated to foster market demand over the coming years. Adoption of chipless radio frequency identification devices for inventory control is predicted to augment industry revenue during the forecast period. Chipless radio frequency identification devices offer unique advantages such as remote reading of tags that contains unique codes for tracking. In addition, chipless radio frequency identification devices can read a large volume of products that are to be checked.
Chipless RFID tags does not contain a microchip inside their transponder. Chipless radio frequency identification devices operates over long range and has ability to be automated, thus they are considered as highly efficient compared to barcodes, which requires a manual operating for interrogation. However, higher cost associated with these devices coupled with design complexities are major challenges for sustained market growth. Yet, removal of ICs altogether from RFID tags reduces design complexity and material cost to a certain extent.
The chipless radio frequency identification devices market is broadly categorized into major segments based on the application type such as retail sector, healthcare industry, smart cards, aviation sector and logistics supply chain. Retail segment is growing rapidly in the market with substantial revenue generation in the last few years. Growing popularity of chipless radio frequency identification devices in retail sector segment is attributed to an increasing product penetration and technological advancement in retail sector.
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The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in implementation of latest technologies in electronic sector, surge in number of research & development activities and existence of well-established infrastructure in the region. In European region, Germany, France, and United Kingdom are projected to witness steady growth.
Asia-Pacific region is estimated to hold a major share in the chipless radio frequency identification devices market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rapid advancement in transport & logistics sector, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the chipless radio frequency identification devices market are Alien Technology Corp., BASF SE, Confidex Ltd., Impinj Corp., Inksure Technologies Inc., Intermec Inc., Kovio Inc., Molex Inc., Sato Vicinity Pty., Ltd., and Zebra Technologies Corp.
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