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Chipless RFID Market

Market Study on Chipless RFID: A Paradigm Shift from Integrated RFID Solution to Chipless Alternatives!

Chipless RFID Market by Component (RFID Tags, RFID Readers, RFID Middleware)

Chipless RFID Market Outlook (2022 to 2032)

The Chipless Radio Frequency Identification (RFID) Market size is estimated to surpass US$ 10.5 billion by 2032, exhibiting growth at a CAGR of 19.5% for 2022 to 2032. The market stood at US$ 1.8 billion in 2022 and registered growth at a CAGR of 23.1% from 2017 to 2021.

Chipless RFID sales are growing rapidly as its adoption is rising in diverse industries, including retail, healthcare, logistics, and aerospace. The retail and consumer goods sector is expected to be the significant revenue-generating segment, projected to grow at a CAGR of over 19.1% from 2022 to 2032.

One of the primary reasons for the growing chipless RFID technology demand is the low cost and great flexibility offered by this technology. Companies are looking for efficient and cost-effective ways to manage inventory and assets.

Another factor driving the adoption of chipless RFID is the integration with IoT sensors. This integration enables real-time tracking and monitoring of assets and inventory, providing companies with greater visibility and control over their operations.

Regionally, Asia Pacific is expected to be the dominant market for chipless RFID technology. Growth in the region is driven by the increasing adoption of RFID technology across China and India.

The benefits offered by chipless RFID tags are also contributing to the growth of the market. These tags can be produced using eco-friendly materials, making them a more sustainable solution for companies looking to reduce their environmental impact.

Companies operating in this market are likely to benefit from new opportunities for growth and innovation as the demand for chipless RFID technology continues to grow in 2023 and beyond.

Attributes

Details

Global Chipless RFID Market Estimated Size (2022)

US$ 1.8 billion

Projected Market Value (2032)

US$ 10.5 billion

Projected Market CAGR (2022 to 2032)

19.5%

USA Market CAGR Value (2022 to 2032)

18.2%

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2017 to 2021 Chipless RFID Sales Outlook Compared to Demand Forecast from 2022 to 2032

As per the Persistence Market Research (PMR), chipless RFID sales increased at around 23.1% CAGR, from 2017 to 2021. With an absolute $ opportunity of US$ 8.7 billion, the market is projected to reach a valuation of US$ 10.5 billion by 2032.

The retail and consumer goods sector has been at the forefront of incorporating chipless RFID technology in recent years. The demand for chipless RFID has increased significantly from 2017 to 2021 and is expected to grow decently at a CAGR of 19.5% between 2022 and 2032.

As more companies look for cost efficient solution in supply chain management, coupled with asset tracking, market for chipless RFID solution is likely to rise.

These solutions can be produced using eco-friendly materials, making them more sustainable solution for companies looking to reduce their environmental impact. Additionally, the enhanced security offered by chipless RFID tags has made them a popular choice for companies looking to protect their assets.

On technology front, the integration of chipless RFID tags with IoT sensors has enabled real-time tracking, monitoring of assets and inventory. This provides companies with greater visibility and has enhanced their control over operations.

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Top Chipless RFID Trends Listed by Persistence Market Research

  • Chipless RFID technology has gained popularity in the retail industry due to its ability to enable efficient inventory management, reduce product theft, and improve the overall customer experience.
  • As the logistics and supply chain industry continues to grow, there is an increasing need for efficient tracking and monitoring solutions. This is fulfilled by chipless RFID technology.
  • Development of new chipless RFID applications for industries such as healthcare, food, and automotive industries, is expected to drive the growth.
  • Improvements in reading range, data storage capacity, and tag durability will propel the adoption of chipless RFID technology.
  • Numerous procedures, such as inventory management, asset monitoring, and quality control, are automated with the use of chipless RFID technology.
  • Growing focus on sustainability in diverse industries, including retail and logistics will boost the market.
  • Chipless RFID technology helps businesses reduce waste, improve efficiency, and minimize their environmental impact.
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Which are the Factors Restraining the Growth of the Chipless RFID Market?

The factors restraining the sales of chipless RFID are data security concerns and high cost. When compared to more conventional RFID technologies, chipless RFID technology implementation costs are still expensive.

The security of data conveyed by chipless RFID devices is also a source of worry. There is a chance that the data might be intercepted or compromised by unwanted person because chipless RFID technology uses radio waves to transfer data.

The chipless RFID present growth is also being constrained by the technology's application space. As chipless RFID technology currently has a significantly smaller read range than conventional RFID technologies, it is inappropriate for various applications.

Lack of standards is another barrier for the chipless RFID manufacturers. As there are presently no global standards for the technology, it is challenging for end users to compare several solutions and choose the one that best suits their needs.

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Which Region Will Offer Significant Opportunity for Chipless RFID Technology Manufacturers?

According to Persistence Market Research (PMR), North America is expected to be the significant market for chipless RFID technology from 2022 to 2032. Growth in the region is predicted to surge at a CAGR of 39.9%.

In 2021, chipless RFID technology in North American market stood at US$ 576.9 million which increased to US$ 706 million in 2022. In 2023, as the market flourishes with healthcare, retail, automotive and IT space, the demand for chipless RFID demand is predicted to grow.

The region is home to several technology companies that have the expertise and resources to develop advanced chipless RFID technology. By leveraging their respective strengths, companies have been able to accelerate the adoption of the technology in the region.

The use of chipless RFID technology in various industries, such as retail and healthcare, is expected to continue growing at a significant rate in North America. This is due to the benefits of real-time inventory tracking and improved supply chain management, among others.

Country-wise Insights:

Why is the Demand for Chipless RFID Technology Expanding in United States of America?

Sales of chipless RFID in United States of America is expected to be worth US$ 3.3 billion by 2032 and create an absolute $ growth of US$ 2.7 billion. Also, growing at a CAGR of 21.4% from 2017 to 2021, the demand for chipless RFID in the United States of America is expected to grow at a CAGR of 18.2% from the year 2022 to 2032.

Demand in the country is underpinned by the IoT industry growth, inventory management and tracking requirement, smart packaging trends, and adoption of contactless payment systems.

As the technology is affordable and easily available due to advanced infrastructure, sales of chipless RFID are predicted to surge by 6x over the forthcoming decade. Moreover, with growing trend of smart packaging, the demand in the United States of America will increase.

Smart packaging uses RFID technology to monitor the condition of the packaged product, track its location, and provide real-time updates to the user.

Would the United Kingdom Exhibit High Sales for Chipless RFID Technology?

Chipless RFID demand in United Kingdom is expected to reach US$ 525.7 million. The market is predicted to witness an absolute $ growth opportunity of US$ 429.7 million. The market in the United Kingdom is expected to grow at a CAGR of 18.5% from the year 2022 to 2032.

The United Kingdom has various industries such as retail, healthcare, logistics, which have a high demand for inventory management and tracking. This may open up several opportunities for chipless RFID tags manufacturers with a growing demand and flourishing market.

With a strong focus on sustainability and reducing carbon footprint, the United Kingdom market has led to the development of smart packaging solutions, enabling easy implementation of chipless RFID tags.

Would China become a Significant Chipless RFID Manufacturing Hub?

Sales of chipless RFID in China are expected to surpass US$ 897.6 million with an absolute $ growth of US$ 759.4 million. Growth in China registered a CAGR of 24.8% from 2017 to 2032 and is expected to grow at a CAGR of 20.6% from 2022 to 2032.

China has a vast and well-established manufacturing industry, with a skilled workforce and advanced manufacturing facilities. This provides a strong foundation to produce chipless RFID technology.

Additionally, the government in China is actively promoting the adoption of new technologies, including IoT and RFID technology, through its "Made in China 2025" initiative. This will transform China into a high-tech manufacturing hub, with a focus on advanced technology and innovation.

China has a large and growing consumer base, which creates a strong demand for chipless RFID technology.

Category-wise Insights

Which Component of Chipless RFID will Remain Highly Sought-After?

The RFID tags segment is projected to witness the most significant growth. It has numerous applications in the retail and consumer goods sector. The CAGR for RFID tags was around 22.6% from 2017 to 2021 and is forecasted to grow around 19.3% at the end of 2032.

The expansion of the worldwide chipless RFID segment is being driven by the retail sector's increased use of chipless RFID tags in its retail chain and outlets.

Chipless RFID tags are used in smart shelves and item-level tracking in the retail industry. They are created with an integrated RFID reader system that sounds an alert whenever the amount of stock on the shelf drops, preventing stock-outs.

Which Industry is Expected to be Lucrative for Chipless RFID Technology Providers?

The most widely used application of the chipless RFID is in the retail and consumer goods industry. Expansion of the aerospace and defense industry can be connected to the increasing need for customized equipment.

RFID tag creators have been helped to produce tiny and flexible RFID tags through the development of innovative printed electronics technologies. Thin-film photovoltaic solar cells, printed sensors, and other technologies are coupled with these tags.

It is anticipated that the rising use of ink technologies and electronic printing would enable RFID developers to manufacture their chipless RFID tags on-site in response to demand.

In order to print RFID tags and other items directly onto or inside of them, several major market participants are concentrating on 3D printing technology for businesses. Thus, it is anticipated that the demand for chipless RFID tags will increase as a result of ongoing developments in consumer goods and consumer electronics.

Additionally, the development of the chipless RFID tags is anticipated to present profitable prospects due to technical improvements, the rise in demand for Industry 4.0 standards, and the emergence of Industry 5.0.

Competitive Landscape

Leading players are focusing on innovative ways to provide high-quality products, as well as patent their technologies and products while expanding their product lines. The players, who currently hold a small market share, are constantly aiming to grow their share in chipless RFID ecosystem.

For instance,

  • In January 2020, the development of a millimeter wave RFID hyper imaging system was completed by Vubiq Networks. Collisions between tags and RFID readers are no longer a problem because of POLSAR, the RFID reader's method.
  • In February 2020, Alien Technology announced that TracerPlus supports Alien technology's ALR-H460 portable RFID Reader. Combining the TracerPlus software with the Alien Technology reader provides a simple, cost-effective way to migrate to an Android-based data collection and RFID environment.

Scope of the Report

Attribute

Details

Estimated Market Size (2022)

US$ 1.8 billion

Projected Market Valuation (2032)

US$ 10.5 billion

Value-based CAGR (2022 to 2032)

19.5%

Forecast Period

2022 to 2032

Historical Data Available for

2017 to 2021

Market Analysis

Value (US$ billion)

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Middle East and Africa

Key Countries Covered

  • United States of America
  • United Kingdom
  • Germany
  • France
  • Spain
  • Italy
  • Japan
  • China
  • Singapore
  • Sri Lanka
  • Middle East and Africa
  • United Arab Emirates
  • South Korea
  • Finland
  • Hungary
  • Rest of the World

Key Segments Covered

  • Components
  • Industry
  • Region

Key Companies Profiled

  • Zebra Technologies Corporation
  • Spectra Systems
  • Molex Inc.
  • Xerox Corporation
  • Politronica Inkjet Printing S.r.l
  • Vubiq Networks Inc.
  • Ensurge Micropower ASA
  • TagSense Inc.
  • Honeywell International Inc.
  • NXP Semiconductors N.V.

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Chipless RFID Market Outlook by Category

By Component Type:

  • RFID Tags
  • RFID Readers
  • RFID Middleware

By Industry:

  • Healthcare
  • Aerospace and Defense
  • Logistics and Manufacturing
  • Government
  • Retail and Consumer Goods

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East and Africa

- Companies Covered in This Report -

  • Zebra Technologies Corporation
  • Spectra Systems
  • Molex Inc.
  • Xerox Corporation
  • Politronica Inkjet Printing S.r.l.
  • Vubiq Networks Inc.
  • Ensurge Micropower ASA
  • TagSense Inc.
  • Honeywell International Inc.
  • NXP Semiconductors N.V.

- Frequently Asked Questions -

The chipless RFID industry was reported to reach at US$ 1.4 billion in 2021.

The chipless RFID technology industry is estimated to be valued at US$ 1.8 billion in 2022.

Demand for chipless RFID is expected to reach a valuation of US$ 10.5 billion by 2032.

The chipless RFID sales surged at an astonishing CAGR of 23.1% over the last 4 years.

The chipless RFID industry is projected to witness a CAGR of 19.5% from 2022 to 2032.

RFID tags are expected to garner a significant value share by 2022.

Estimates predict that between 2022 and 2032, the demand for chipless RFID in China would increase at a CAGR of around 20.6%.

Between 2022 and 2032, it is anticipated that the sales of the chipless RFID in the USA will increase at a CAGR of around 18.2%.

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