May 23, 2024
Chipless RFID Market
Ict

Chipless RFID Market is Poised for Growth by the Increasing Demand for Supply Chain Monitoring and Inventory Management

The Chipless RFID market involves the use of RFID tags that do not contain an integrated circuit. These tags modulate their radio frequency backscatter in a way that encodes identification information, thereby enabling wireless item identification without the need for an electronic chip. The chipless RFID technology offers advantages over traditional RFID tags such as lower manufacturing costs and a larger data storage capacity. Due to the ability to identify a larger number of objects at much lower cost-per-tag, chipless RFID has applications across manufacturing, logistics, retail and consumer goods sectors for supply chain monitoring and inventory management.

The Global Chipless RFID Market is estimated to be valued at US$ 7474.52 Bn in 2024 and is expected to exhibit a CAGR of 16.% over the forecast period from 2024 to 2031.

Growing demand from end use industries for tracking their products during transportation and storage is a major factor driving the growth of this market.

Key Takeaways

Key players operating in the Chipless RFID Market Demand  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, Evoqua Water Technologies LLC, Advanced UV, Inc., Hydro, Photon, makers of SteriPEN, and Enaqua.

The increasing demand across various industries such as manufacturing, healthcare, retail and transportation for monitoring their inventory levels and tracking shipments in real time is expected to boost the adoption of chipless RFID technology. Chipless RFID tags offer improved accuracy and automation in identifying manufactured goods during production and distribution processes.

The growing global e-commerce industry is also propelling the market growth. Chipless RFID enables effective tracking of individual items shipped globally. Leading e-commerce players are actively exploring RFID technologies including chipless RFID for enhancing supply chain transparency and reducing losses.

Market key trends

One of the key trends in the Chipless RFID market is the increasing investments by industry players to develop more advanced chipless RFID tags with larger memory capacities and longer read ranges. Research is ongoing to enhance data encoding techniques to accommodate thousands of bits of data in a tag. This will enable storing more product information as well as make chipless RFID a viable technology for supply chain management of high-value and regulated products.

Porter’s Analysis

Threat of new entrants: Low capital requirement and availability of components for chipless RFID tags makes the threat of new entrants moderate.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and price sensitivity.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of component manufacturers and intangible technology.

Threat of new substitutes: Substitutes like barcodes, QR codes, and chip-based RFID pose moderate threat.

Competitive rivalry: Intense due to increasing investments in RFID technology by major players.

Geographical Regions

North America holds the largest share in the chipless RFID market in terms of value due to high adoption of RFID technology across industries such as healthcare, logistics, manufacturing, and retail. The growing RFID applications for asset tracking, access control, and payment and transportation are fueling the market growth in the region.

Asia Pacific is expected to grow at the fastest rate during the forecast period. This is attributed to increasing investments by manufacturing companies for industrial automation and large production volumes in countries like China and India. Government initiatives to promote adoption of advanced technologies are propelling the chipless RFID market in Asia Pacific.

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