Rising demand for secure smart card system will help in increasing market penetration.
San Francisco, CA (PRWEB) January 17, 2015
Growing need for efficient management of supply chain operations will fuel Chipless RFID market growth over the forecast period. Increasing adoption in applications that require low product value and level of functionality will drive the market. This is mainly due to the low memory capacity and costs of the RFID tags. Potential opportunities in niche market applications such as banking cards; e-passport and item level tagging for various products will favorably impact RFID growth through the forecast period. Increased demand for Chipless RFID to provide various solutions such as anti-counterfeiting, asset tracking, making the systems more productive and avoiding the shrink in retail will be the key growth factor for the chipless RFID market
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Rising demand for secure smart card system will help in increasing market penetration. Data accuracy, compatibility with the existing infrastructure, easy manufacturing technology and low costs are some of the factors expected to drive the market. The absence of standards and lack of adequate awareness about the potential benefits of Chipless tag technology will hamper market growth through the forecast period.
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The market can be segmented on the basis of product and end-use industry. North America will dominate the market through the forecast period. Advancements in printable Chipless RFID tags with tools such as RFID packages for the physically challenged consumer base will offer favorable growth opportunities to the market participants for the next six years. Key market vendors include Kovio Inc, Zebra Technologies Corporation, Alien Technology Corporation and Intermec Inc.
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