Chipless RFID is a form of RFID tag that uses Radio Frequency (RF) energy to transmit the data. These types of tags exploit conductive polymers in the place of silicone microchip, where these chipless tags are digitally encoded and work with one-millimeter range. Some essential features of these chipless RFID tags include microwave reflecting fiber, unique signature and magnetically encoded stripe in banknotes. These tags are largely used in banking cards, e-passport, and item-level tagging. These tags are also used for anti-counterfeiting, smart tickets, asset air-baggage, tracking, animal tracking, and high volume secure documents. In Europe, chipless RFID tags are generally used for high-quality product identification, which opens up good market opportunities for manufacturers of RFID tags and RFID readers.
Rise in demand in the banking & healthcare sectors, increase in efficiency offered by chipless RFID tags and low price of manufacturing drive the growth of the Europe chipless RFID market. However, the higher risk associated with the leakage of confidential information will impede the growth of the market. On the other hand, numerous opportunities are expected in the coming years due to the change from retail to RFID and innovations in cloud-based systems.
As per analysis, “Europe Chipless RFID Market 2020-2026 by Component, Product Type, Frequency Band, Industry Vertical, and Country: Trend Forecast and Growth Opportunity” the key companies operating in the Europe chipless RFID market include Impinj Corporation, BASF SE, Molex Inc., Invengo Technology Pte., Ltd., GAO RFID Inc., Intermec Inc., CAEN RFID S.r.l., Alien Technology Corporation, Mojix Inc., Confidex Ltd., Inksure Technologies Inc., NXP Semi-Conductors, IDTRONIC GmbH, Applied Wireless RFID, Zebra Technologies Corporation, Sato Vicinity, Variuscard GmbH, NXP Semi-Conductors, Thin Film Electronics, Kovio Inc., GlobeRanger and among others. The industry is highly fragmented due to the presence of a large number of companies playing an important role at the regional level. In addition, due to rising demand for chipless RFID, renowned industry players have adopted various market growths like mergers & acquisitions, partnerships, strategic partnerships and novel product launches for maintaining their position in the regional market.
In terms of product type, tag segment accounted for the major market share due to increase in need for effective supply chain management. In addition, in terms of end-user, market can be divided as logistics & transportation, healthcare, BFSI, retail and others. The transport & logistics segment is projected to be a noteworthy application throughout the forecast period. Increasing public transit market is likely to increase the demand in upcoming years.
Various industries such as BFSI and healthcare sectors use chipless RFID tags to track their products. These chipless RFID tags are relatively cheaper because they have no silicon chips and are maintenance-free. Therefore, these factors have increased the proliferation of chipless RFID tags in passports & bank cards. In addition, due to its cost-effective and counterfeit-proof properties, chipless RFID technology has been widely adopted by several companies, which in turn is projected to drive the growth of the Europe chipless RFID market throughout the forecast period.
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Ankur Gupta, Head Marketing & Communications