Increase in Utilization of Access Control & Security Application Expected to Drive Global Chipless RFID Market: Ken Research

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Radio frequency identification or RFID without silicon ICA are known as chipless RFID. The chipless RFID is a developing wireless technology for access controls, security & observation, automatic identifications, tracking, logistics, database management, and inventory control. It uses conductive polymers/plastic as a replacement for silicon-based ICs. Chipless RFID tags have a variety of features for instance magnetically encoded stripe in banknotes, microwave reflecting fiber and unique signature. These tags are primarily used in banking cards, e-passport, and item-level tagging. The chipless RFID tags are basically used for air baggage, asset tracking, anti-counterfeiting, smart tickets, animal tracking, and high volume secure documents.

Referring to the study, “Global Chipless RFID Market 2020-2026 by Component, Product Type, Frequency Band, Industry Vertical, and Region: Trend Forecast and Growth Opportunity” some of the leading players operating in the global chipless RFID market include IDTRONIC GmbH, Alien Technology Corporation, CAEN RFID S.r.l., Inksure Technologies Inc., Avery Dennison, Applied Wireless RFID, GAO RFID Inc., BASF SE, Confidex Ltd., Impinj Corporation, GlobeRanger, Invengo Technology Pte., Ltd., Intermec Inc., NXP Semi Conductors, Mojix Inc., Kovio Inc., Thin Film Electronics, Sato Vicinity, Zebra Technologies Corporation, Variuscard GmbH. Some leading players have started adopting the chipless RFID tags because of their cost-effectiveness & anti-counterfeiting features, consequently driving the growth of this particular segment during the forecast period.

On the basis of component type, chipless RFID market is segregated as readers, tags and middleware. On the basis of product type, market is segregated as active RFID, passive RFID and others. On the basis of frequency band, market is segregated as low frequency, high frequency and ultra-high frequency. In addition, on the basis of industry vertical, market is segregated as aviation, financial services, logistics & transportation, healthcare & medical, retail & ecommerce, agriculture-farming & livestock and other verticals. The retail segment is expected to exhibit substantial growth rate due to increase in automation and wireless operations to maintain minimum contact during the forecast period.

The chipless RFID market is driven by rise in utilization of access control & security application, followed by increase in efficiency offered by chipless RFID tags, rise in product awareness among end users, low cost of manufacturing and rise in demand for chipless RFID in banking & healthcare sector. However, high initial installation cost & device interoperability and risk associated with breach of confidential information may impact the market. Moreover, growth in innovation of cloud-based system and increase in shift of retailers toward chipless RFID products are key opportunities for market. Furthermore, rise in adoption of chipless RFID tags in retail sector and growth in technological advancements printed electronics are major trends for market.

By regional analysis, the Asia-Pacific region dominates the global chipless RFID market owing to increase in per capita income coupled with growth in requirements for appliances, such as smart-watches across the region. The North-America and Europe regions are estimated to witness higher growth rate due to rise in need for efficient supply chain management over the forecast period. It is estimated that future of the global chipless RFID will be bright as a result of growth in manufacturing industries during the forecast period.

For More Information, click on the link below:-

Global Chipless RFID Market Research Report

Related Report:-

Global Chipless RFID Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread)

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Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

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