by Chipless RFID tags allow for contactless identification of items without the need for an onboard silicon chip. They provide various advantages over traditional RFID tags such as lower cost of production, enhanced memory capacity, and ability to withstand harsh environmental conditions. Growing demand from sectors such as retail, supply chain & logistics, and healthcare is expected to drive the need for contactless item identification solutions. Chipless RFID tags can be affixed to various items ranging from pharmaceutical products and medical devices to consumer goods and industrial parts for tracking purposes.
The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the chipless RFID market is the increased adoption of contactless identification tags in the retail sector. Retailers are extensively deploying chipless RFID tags to streamline inventory management and enable frictionless checkout. These tags allow tracking of individual items from the time they enter the store until the point of sale. This helps retailers optimize supply chain processes and improve customer shopping experiences. Another significant trend is the development of printed chipless RFID tags. Technological advancements have enabled printing of tag antennas and coupling structures directly onto product packages or labels using techniques such as inkjet and flexographic printing. This makes chipless RFID more affordable and suitable for item-level tracking applications across various industries.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is low as the chipless RFID market requires huge capital investment and well established distribution channels. There are few major players dominating the market making it difficult for new players to establish themselves.
Bargaining power of buyers: The bargaining power of buyers is high as the chipless RFID technology offers advantages over traditional RFID and there are few substitutes available giving buyers option to switch easily.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have limited control over pricing but unique technology providers can influence prices.
Threat of new substitutes: The threat of new substitutes is low as chipless RFID provides advantages over traditional barcodes and chips based RFID in terms cost and design flexibility.
Competitive rivalry: The competitive rivalry is high among major players to gain market share and offer innovative products with new applications.
Key Takeaways
The global Chipless RFID Market Growth is expected to witness high over the forecast period. The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 9.7% over the forecast period 2023 to 2030.
North America dominated the chipless RFID market in 2023 and is expected to maintain dominance over the forecast period. High demand from the retail and manufacturing industry from the US and Canada drives the regional market. Asia Pacific is expected to exhibit the fastest growth with China, India and Japan emerging as major markets in the region.
Key players operating in the Chipless RFID market are 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. Zebra Technologies offers extensive chipless RFID tag portfolio for various applications like apparel, electronic articles surveillance and more. Spectra Systems provides contactless readers and customized solutions to industries like automotive, defense and more.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
