Global chipless RFID market is expected to reach $ 3,925 millions in 2016 from $1087 millions in 2011 at an estimated CAGR of 29.3% from 2011 to 2016.
(PRWEB) August 04, 2012
In recent technology developments, chipless RFID tags has been developed and offered on the affordability level of customers, which will result in high growth. It is coupled with a simplified manufacturing technology and decrease in the manufacturing time. Moreover chipless RFID tags are compatible with the existing infrastructure, which saves the additional cost of installing new system. Manufacturers have reduced the price of chipless RFID tags. This trend is causing for a high growth of chipless RFID market.
U.S. being a pioneer in the RFID business contributes highest market share of 44% with CAGR of 23.2% followed by Europe and Asia Pacific shares equal market share. Europe and APAC is expected to grow by 28.9% and 37.0% respectively. Looking at the growth of Asian economies like China and India. Asia Pacific is expected to contribute 37% which will be highest. U.S., Western Europe and China will be the demand drivers of chipless RFID market.
In the recent past that the manufacturers have realized the need to affordable and efficient solution for track and trace for the various applications like retail, supply chain, smart card etc. Chipless RFID tags produce almost equal efficiency at lower cost compared to chip based RFID. It is more efficient than barcode but not cost competitive. There is an increasing demand for chipless RFID to provide the various solutions like asset tracking, anti-counterfeiting, to avoid the shrink in retail. It also helps to increase the efficiency and make the system more productive. Chipless RFID has ability provide the solutions like anti-counterfeiting which is a universal burning issue for healthcare industry. Supply chain, aviation and public transit segments are going to be benefitted with chipless RFID by creating hassle free operations. Chipless RFID will make Smart cards more secure and hence will increase the market penetration of Smart cards and so of chipless RFID.
Governments like Nigeria, Singapore, China and U.K. have already mandated RFID in various projects like counterfeiting and Citizen Identification etc. The Governments mandate provides and extra advantage for growth of chipless RFID.
The report deals with the market trends in chipless RFDI and the growth associated to it. It also deals with the various factors which drives and restrains the market in the next five years.
The revenue generated in global radio-frequency identification market is expected to reach $ 3,925 millions in 2016 from $1087 millions in 2011 at an estimated CAGR of 29.3% from 2011 to 2016.
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