Printed and Chipless RFID Market Analysis

Printed and Chipless RFID Market Analysis

Retail applications were responsible for over 29% of the printed and chipless RFID market share in 2015. Growing use in improving the overall customer experience, inventory accuracy, store execution, on-shelf availability, as well as omni-channel retailing will drive growth over the forecast timeframe.
 

The aviation industry contributed over USD 300 million to the printed and chipless RFID market size in 2015. Favorable regulatory landscape is a major growth driver in the healthcare space. Major use cases include patient tracking, surgical instrument track and trace, staff identification, document management, inventory control, etc.
 

The industry has witnessed replacements of chip-based tags with chipless counterparts; these help in avoiding theft through asset tracking and also contribute in preventing counterfeiting. Government initiatives such as e-passports combined with growth in the number of electronic transactions and higher customer satisfaction will positively impact revenue.
 

U.S. printed and chipless RFID market size is forecast to surpass USD 4.8 billion by 2023, at 25% CAGR estimations from 2016 to 2023. Growing demand across application areas is expected to drive growth. Companies operating in the region have been adopting this technology to streamline supply chain management and enhancing inventory visibility.
 

Growing need for document management in government agencies and medical institutions will favor Asia Pacific printed and chipless RFID market growth. The Brazilian government offers incentives schemes to local companies adopting the technology. Companies based in the region have been leveraging it to track and trace their inventory and improve supply chain management.
 

Chip based solutions and barcodes represent external substitutes; however, any rise in demand is predicted to be offset by growing awareness regarding advantages offered by chipless RFID market implementation. Growing popularity is also forecast to attract new companies to enter the industry.