Global Chipless RFID Market - Segmented by Product Type (Tag, Reader, Middleware), Application (Retail, Healthcare, Smart Cards, Aviation, Supply Chain), and Region - Growth, Trends and Forecast (2018 - 2023)
The chipless RFID market is expected to register a CAGR of 28.50 %, over the forecast period (2018 - 2023). The regions considered in the scope of the report include North America, Europe, Asia Pacific and Rest of the World.
Chipless RFID (Radio Frequency Identification) is an emerging disruptive wireless technology for identification, tracking and sensing. A chipless RFID tag does not contain an application specific integrated circuit (ASIC), hence the reader does all signal processing to read the tag. Chipless RFID tags are low-cost passive microwave/millimeter wave circuits where the information is stored in printable resonators and delay lines and typically implemented in flexible substrates such as polymers and papers, like optical barcodes. The chipless RFID technology has emerged as a low‐cost alternative for chipped RFID system and has the potential to penetrate mass markets for low‐cost item tagging. Thus, problems of achieving low cost chipped RFID are presented with the proposed solution of chipless RFID for lowering the price of the RFID tag.
Manufacturing Advantages of Chipless RFIDs to drive the Market Growth
As per the latest technology updates, chipless RFID tags have been developed and offered at the affordability level of customers, which is expected to result in higher growth. They are coupled with a simplified manufacturing technology and decrease in the manufacturing time. Moreover, chipless RFID tags are compatible with the existing infrastructure, which saves the additional cost of installing new systems. Manufacturers have reduced the price of chipless RFID tags. This trend is resulting in high growth of the chipless RFID market.
Healthcare Sector to Contribute Significantly to the Market Growth
The opportunities for RFID applications are high in the healthcare sector. RFIDs can be used in machinery or equipment as they help in the effective identification of a location and improve the use and efficiency of expensive and unique machinery or equipment. RFID tags can also be used on patients. Currently, many hospitals use barcodes to create unique IDs. This helps in maintaining a record of a patient's medical history. A startup, IntelligentM, offers a smart bracelet or band that tracks hand hygiene and records the frequency in which hospital healthcare workers wash their hands. It is used to reduce hospital-induced infections. The smart band gathers data and can be monitored by hospital heads.
North America is Expected to Dominate the Market
The players in the Americas region are emphasizing on R&D activities to facilitate operational efficiency through advanced technologies. Due to the rise in healthcare expenditure in the region, specifically in the United States, the RFID technology is expected to witness a rise in the adoption in the healthcare and medical sectors.
Additionally, some US based companies are adopting this technology to make their supply chain management effective and efficient and increase inventory visibility. Moreover, the US Department of Defense (DOD) and Food and Drugs Association (FDA) have encouraged the use of RFID technology for supply chain management and for tracking products. Wal-Mart is working with its suppliers to ensure that the RFID tags are placed on removable labels, not embedded in the clothing itself, in order to reduce consumers' fears of tracking. Additionally, the adoption of RFID technologies and a significant number of established players in the RFID market are driving the demand for RFID tags in the region.
Key Developments in the Market