The global chipless RFID Market is estimated to be valued at US$ 1,176.7 Mn in 2022 and is expected to exhibit a CAGR of 28.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Chipless RFID technology uses the wireless communication of radio frequency waves to identify and track objects without embedding an integrated circuit or chip. These RFID tags are much cheaper to produce as compared to traditional RFID tags. The technology is gaining popularity across industries due to its low manufacturing cost.
Market key trends:
One of the major trends driving the growth of the chipless RFID market is the rising demand for low-cost RFID tags from various industries. Industries such as manufacturing, logistics, and retail are increasingly adopting chipless RFID technology to maximize operational efficiency and reduce costs. With no integrated circuit, chipless RFID tags can be produced on a very large scale through techniques like printing, further driving their cost down significantly. This makes chipless RFID an affordable solution for tagging large numbers of items with minimal budget impact.
Segment Analysis
The global chipless RFID market is segmented by tag type into tag and transitional chips. Among these, the tag segment held the largest market share in 2022, accounting for around 60% share. Tags provide simplified and miniaturized RFID technology, thereby enabling easier embedding into various objects. They also offer advantages such as low manufacturing cost and passive nature. These factors have driven their demand over transitional chips in recent years.
Key Takeaways
The Global Chipless RFID Market Size is expected to witness high growth, exhibiting a CAGR of 28.1% over the forecast period of 2023-2030, driven by increasing adoption across industries such as retail, healthcare, transportation, and logistics.
The market size is anticipated to reach US$ 1,176.7 Mn by 2023. North America currently dominates the regional market, accounting for over 35% share due to strong presence of key players and early adoption of chipless RFID technologies across industries. Asia Pacific is expected to witness fastest growth owing to expansion of retail and logistics sectors in major countries such as China and India.
Key players operating in the chipless RFID market include Zebra Technologies Corporation, Spectra Systems, Molex Inc., Xerox Corporation, Politronica Inkjet Printing S.r.l., Vubiq Networks Inc., Thin Film Electronics ASA, and TagSense Inc. Major players are focusing on new product launches and partnerships to strengthen their market position. For instance, in 2022, TagSense partnered with VIX Technology to provide smart product solutions integrated with chipless RFID tags.
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