Global Market for Chipless RFID Set to Cross US$ 3,058 Million over 2024
“The US$ 477.7 Million chipless RFID market is estimated to reach US$ 3,058.2 Million by 2024-
end, reflecting a robust CAGR of 26.1% during the forecast period (2016-2024). The retail sector
will play a crucial role in driving the market growth globally over the next couple of years.
Adoption of chipless RFID 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 their dominance with companies such as
Xerox Corporation and Zebra technologies leading the pack on a global level. PMR’s analysis
reveals that strategic partnerships amongst players will remain a key trend throughout the forecast
period in order to penetrate narrower channels of the market. Thin Film Electronics ASA, Spectra
System, Tag Sense, Politronica, and Molex are some of the other companies who have significantly
increased their footprints in the global chipless RFID market in recent years.
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Bottlenecks
According to PMR’s latest report on the global market for chipless RFID, issues associated with
data characteristics is likely to inhibit the overall growth of the market during the assessment
period. Further, technological stringency is translating into operational restrictions of chipless
RFID. Tags developed using chipless RFID technology are susceptible to various physical and
virtual attacks, which increases the possibilities of data misuse. These tags are easily accessible
making any private information stored in them prone to malignant threats. On the other hand,
factors such as cost effective manufacturing technology, rapid adoption in sectors such as banking
and healthcare and growing need for efficient supply chain management are expected to define the
market growth over the next couple of years.
Sturdy Consumption of Chipless RFID Tag
As per the projection, demand for chipless RFID tag will gain maximum traction, while chipless
RFID reader will emerge as the second largest segment of the market over 2024 on the basis of
component type. In terms of revenue, the RFID tag segment is anticipated to expand at the fastest
CAGR of 31.4% over the forecast period, followed by RFID reader segment.
Usage of Chipless RFID Will Remain High In Retail & Consumer Goods Industry
Based on industry type, the retail & consumer goods segment is set to expand at a significant
CAGR of 29.3% in terms of value 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. The logistics & manufacturing is expected to remain the second
largest segment of the market, surpassing a market valuation of US$ 984 Million by 2024 end.
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Global Chipless RFID Market: Regional Outlook
In terms of revenue, North America is projected to be the most attractive market for chipless RFID