Radio Frequency Identification (RFID) uses wireless non-contact structure with the help of radio-frequency electromagnetic fields. RFID transfers the files from a tag attached to an article, for automatic tracking and identification. Some of the tags need no power source and are run by the electromagnetic fields. Other tags emit radio waves and require a limited power. The tag comprises of electronically stored information which could be read from the distant.
The manufacturers of this market have realized the necessity for reasonable and efficient solutions to trace and track the several applications which includes retail, smart card and supply chain among others. The demand for this market is increasing as it provides the solutions which includes asset tracking, and anti-counterfeiting, to avoid the shrink in retail.
The key drivers of this market include decreasing cost, ease in manufacturing technology, compatibility with existing infrastructure and high accuracy data. The main factor restraining the market growth is its low memory. The opportunities in this market is the government policies related to RFID.
This market is segmented on the basis of its applications which includes tracing healthcare & pharmaceutical equipment, patient monitoring, smart cards, public transit, retail, supply chain and aviation industry among others. Supply chain, public transit and aviation industry segments would be benefited with chipless RFID by creating hassle-free operations.
Some of the key players in this market includes Alien Technology Corporation, Basf Se, Dai Nippon Printing Co. Ltd., Impinj Incorporation, Inksure Technologies Inc., Toppan Forms Co. Ltd., and Zebra Technologies Corporation among Others.