Zion Market Research Chipless RFID Market, 2016–2024 | Page 2

Chipless RFID Market
Global Chipless RFID Market: Overview
Radio frequency identification (RFID) is a wireless technology. Radio waves are used to read &
capture data stored on the transponder and this data is attached to an object. The transponder
is capable of reading data from long distance and does not require to be within direct line of
sight of the reader to track information. Several transponders do not require the power source
and can run on the electromagnetic fields, while some transponders emit radio waves and need
limited power to run. Many manufacturers realized the significance of reasonable and efficient
solutions to trace data for several applications including supply chain, smart card, and retail. It
also offers advantages such as avoid the shrink in retail, asset tracking, and anti-counterfeiting.
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Global Chipless RFID Market: Growth Factors
Growth in the global market is due to ease in manufacturing technology and high accuracy data
are anticipated to foster the global chipless RFID market growth. In addition, decreasing cost
and compatibility with existing infrastructure may foster the global market growth. Also,
increasing spending on RFID by the government has opened up new growth opportunities in the