PR - Global Chipless RFID Market 2016-2024

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 2024end, 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)
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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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.
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.
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In terms of revenue, North America is projected to be the most attractive market for chipless RFID
market during the forecast period. In 2016, the region dominated the overall global chipless RFID
market and is expected to reach US$ 1,217.5 Million by 2024 end, reflecting a CAGR of 27.3%. The
chipless RFID market in Asia Pacific (APAC) is foreseen to expand at the highest CAGR over the
forecast period, followed by North America and Europe respectively. The growth of the market in
APAC is primarily attributed to the growing investment by various industries in modernizing data
maintenance technology in order to improve their business efficiency.
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