June 13, 2024
Chipless RFID Market

RFID Chipless Tag Market is driven by increasing adoption in supply chain management

Large paragraph: Chipless RFID tags are contactless tags that do not require an onboard semiconductor chip for data storage and retrieval. They consist of metallization patterns or notches cut into the substrate that create a unique electromagnetic signature when interrogated by RFID readers. This allows them to encode serial numbers, product information and other data directly onto the tag without embedding a silicon chip. They offer various advantages over traditional RFID chips such as lower production costs, increased data storage capacity and flexibility in design. Chipless RFID tags can be retrofitted onto existing products without significant design changes and help automate processes across industries such as manufacturing, retail and logistics.

The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends: One of the major trends in the chipless RFID market is the growing adoption in supply chain and logistics applications. Chipless RFID tags can efficiently track shipments during transit as well as on retailer/wholesaler shelves without requiring line-of-sight scanning. This allows retailers and manufacturers to gain real-time visibility into inventory levels and automate processes like receiving, put-away and replenishment. The technology is also being used for tracking returnable transport items (RTIs) like pallets, containers and roll cages to optimize resource utilization and boost operational efficiencies in the supply chain. Furthermore, research is ongoing to develop chipless RFID tags with improved data encoding capabilities and sensor functionalities to expand their use cases beyond simple identification and tracking across industries over the coming years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as initial capital investments and regulatory compliances are required for setting up manufacturing facilities.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of a large number of chipless RFID tag manufacturers offering comparable products.

Bargaining power of suppliers: The bargaining power of suppliers is low as raw material suppliers have limited control over pricing.

Threat of new substitutes: RFID technologies offer substitute options but chipless RFID holds an edge due to lower costs.

Competitive rivalry: The competitive rivalry is high among the major players operating in the market.

Key Takeaways

The global Chipless RFID Market Share is expected to witness high growth over the forecast period. The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 16.% over the forecast period 2023 to 2030.

Regionally, North America holds the highest market share currently due to increasing investments in RFID technologies by various industries in the region. Europe and the Asia Pacific regions are also expected to grow at a significant rate during the forecast period. The Asia Pacific region is anticipated to grow at the fastest rate during the forecast period owing to significant growth opportunities in countries such as China and India.

Key players: Key players operating in the chipless RFID market are Severn Trent Plc, Calgon Carbon Corporation, Xylem Inc., Trojan Technologies, General Lighting, Aquionics, Atlantium Technologies Ltd., Atlantic Ultraviolet Corporation, FirstLight Technologies Ltd., Green Water Technologies, and Evoqua Water Technologies LLC. Major players are focusing on new product launches and strategic collaborations to gain a competitive edge in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it