Radio Frequency Identification (RFID) is a technology that enables communication through radio waves by encoding digital data in to RFID tag and label to recognize any object, person, animal, and asset. RFID is a type of Automatic Identification and Data Capture (AIDC) that helps to identify object directly and collect information in terms of data about them and feed into the computer system with the use of radio waves.
Chipless RFID tag is an important element of RFID technology. These are the RFID tags that do not consists of a microchip in the transponder. These tags are cost-effective as they do not make use of chips and expensive silicon batteries. These benefits provided by Chipless RFIDs contribute to the wide adoption of this technology across multiple industries such as BFSI and healthcare. These industries have adopted RFID technology for I cards, e-passport, banking card, and asset management. Moreover, it is printed with the help of jet printers, which is also cheap in price and allows multiple printing of these tags at the same, which takes less time, and thus are printed easily and quickly. These are the most important factors, which drive the growth of the Chipless RFID market.
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Key players operating in the Chipless RFID industry include Impinj, Smartrac, Tyco Retail Solutions, Nedap, Alien Technologies, Avery Dennison, Checkpoint System and Zebra. These companies focus on techniques and strategies which encourages expansion, collaboration, and development with other firms and helps increase revenue and expand product offerings in standardized form.
Advancement in electronics and printed ink technologies leads to the development of Chipless RFID market as it easily connected with printed sensors, photo voltaic solar cells and other technologies, encouragement in ink technologies and printed electronics market leads RFID vendors to print as per requirements own chipless RFID tags. Factors, such as unauthorized access and highly expensive act as a major restraint which can hinder the Chipless RFID market growth. Increase in demand for automated access in many industries for security creates lucrative opportunities for the market growth.
The Chipless RFID market size is expected to experience considerable growth in retail segment. Retailers across the globe are adopting RFID technology for improving business performance. For instance, in 2015, Walmart, one of the major retailers in the U.S. has implemented RFID technology across all its stores. For instance, 1G-RFID-SYS used by this industry is employed in patient’s ID to identify emergency situation.
The Chipless RFID market is segmented into component, type, frequency, end use, and region. Based on component, the market is classified in to tags, and reader. Based on type, the market is segregated into active and passive. Based on frequency, the market is analyzed across low, high, ultrahigh, and active ultrahigh. Based on end use, the market is categorized into transportation, healthcare, aerospace, defense, retail, sports, logistics, BFSI, and commercial. Based on region, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
- This study includes the analytical depiction of the global chipless RFID market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information regarding the key drivers, restraints, and opportunities.
- The current Chipless RFID market is quantitatively analyzed from 2019 to 2026 to highlight the financial competency of the industry.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
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