Chipless RFID Market Size 2022
Chipless RFID Market Size 2022
The global chipless RFID market size is likely to grow vigorously in the coming period. The market would show a bias towards privacy-enhancing computing over the time period. Many privacy protection techniques are likely to be used to allow value to be extracted from data. This would be the scenario with vertical ICT in the next 10 years.
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“The $477.7 million chipless RFID market is estimated to reach $3,058.2 million by the end of 2024, reflecting a strong CAGR of 26.1% over the forecast period (2016-2024). The retail sector will play a crucial role in driving the market growth globally in the next two years Chipless RFID adoption is expected to remain high in stores for smart shelves and item-level tagging “. – Persistence Market Research (PMR)
Global Chipless RFID Market: Key Stakeholders
US-based chipless RFID manufacturers will continue to dominate with the likes of Xerox Corporation and Zebra Technologies leading the pack globally. PMR analysis reveals that strategic partnerships between players will remain a key trend during the forecast period to penetrate narrower channels of the market. Thin Film Electronics ASA, Spectra System, Tag Sense, Politronica and Molex are some of the other companies that have significantly increased their presence in the global chipless RFID market in recent years.
bottleneck
According to PMR’s latest report on the global chipless RFID market, issues associated with data characteristics are likely to inhibit overall market growth during the evaluation period. Furthermore, technological stringency is translating into operational constraints on chipless RFID. Tags developed with chipless RFID technology are susceptible to various physical and virtual attacks, increasing the chances of data misuse. These tags are easily accessible, making any private information stored on them prone to malicious threats. On the other hand, factors such as cost-effective manufacturing technology, rapid adoption in sectors such as banking and healthcare, and the increasing need for efficient supply chain management are expected to define the growth of the market in the coming years.
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Chipless RFID usage will remain high in the retail and FMCG industry
Based on industry type, the Consumer Goods & Retail segment will expand at a significant CAGR of 29.3% in value terms over the forecast period. In 2016, the segment stood at a market valuation of US$194.2 million and is expected to remain dominant in terms of revenue share throughout the forecast period. Logistics and manufacturing is expected to remain the second largest segment of the market, topping a market valuation of $984 million by the end of 2024.
Global Chipless RFID Market: Regional Perspective
In terms of revenue, North America is anticipated to be the most attractive market for the Chipless RFID market during the forecast period. In 2016, the region dominated the global global chipless RFID market and is expected to reach US$1,217.5 million by the end of 2024, reflecting a CAGR of 27.3%. The Asia Pacific (APAC) chipless RFID market is anticipated to expand at the highest CAGR during the forecast period, followed by North America and Europe, respectively. The growth of the market in APAC is mainly attributed to the increasing investment by various industries in modernizing data maintenance technology to improve their business efficiency.
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Key questions answered in the Chipless RFID market size report
How is the Chipless RFID market size expected to grow during the projected period?
Which direction is the Chipless RFID market size expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the size of the Chipless RFID market in future?
What are the key market drivers in the size of the Chipless RFID market?
What are significant opportunities and improvement areas for the Chipless RFID Market Size manufacturers?
What are the key developments and trends that are taking over the size of the Chipless RFID market?
Which are the emerging countries that are expected to create significant growth opportunities in the size of the Chipless RFID market?
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