Global Chipless RFID Market worth 22.6% CAGR by 2030

Bengaluru, November – The COVID-19 epidemic caused the market to slow down generally, which resulted in losses for the industry. Lockdowns and industry closures ordered by the government have a negative impact on the market’s output and earnings. The market’s sluggish expansion also cost the electronics industry money. Major financial losses have occurred for lockdown Asian and European nations as a result of the region’s manufacturing facilities ceasing operations. But now that the market is beginning to resurface, growth potential is apparent.

The COVID-19 epidemic had both beneficial and negative effects on the global chipless RFID (Radio Frequency Identification) industry. Manufacturing stoppages, transportation limitations, and labour shortages have all disrupted global supply chains, which may have an impact on the availability and manufacturing of chipless RFID systems and components. Delays in the adoption and use of chipless RFID technology may have resulted from this.

But the epidemic also brought about behavioural shifts in consumers and sped up the digital revolution across a number of industries. Contactless and automated procedures are becoming more and more important to industries including retail, healthcare, logistics, and pharmaceuticals. Chipless RFID technology may have seen a spike in demand for tracking and tracing purposes in certain areas due to its potential for flexible and cost-effective adoption.

The Global Chipless RFID Market research report titled “Global Chipless RFID Market based on by Component Type (Direct Thermal and Thermal Transfer), by Industry (Retail and Consumer Goods, Logistics & Manufacturing, Healthcare, Government, Aerospace & Defense, and Others), and by Region– Global Forecast up to 2030”

The market for chipless RFID technology was estimated to be worth USD 1,186.7 million in 2023 and is projected to expand at a Compound Annual Growth Rate (CAGR) of around 22.6% to reach USD 6,650.5 million by 2030. The market is expanding due to factors like the requirement for improved inventory control, contactless and automated operations, anti-counterfeiting measures, and effective supply chain management.

A growing number of industries, including retail, logistics, healthcare, automotive, and aerospace, are using chipless RFID technology globally. When compared to conventional chip-based RFID systems, chipless RFID technology has benefits such non-line-of-sight identification, real-time tracking, and cost effectiveness.

Part of the global chipless RFID market has come from the retail sector, which has benefited greatly from the demand for better inventory control, better customer service, and more efficient operations. Chipless RFID technology facilitates seamless checkout operations, lowers stockouts, improves product visibility, and helps merchants optimise inventory levels. Chipless RFID technology has also been embraced by the pharmaceutical and healthcare industries for uses like drug administration, asset tracking, and patient monitoring. Because chipless RFID tags offer real-time visibility, healthcare institutions may better use their equipment, protect patients, and expedite supply chain procedures.

Geographically, because of the presence of large technology providers, early adoption of cutting-edge technologies, and strict rules governing anti-counterfeiting measures, North America and Europe have historically been prominent markets for chipless RFID technology. However, because of the region’s fast industrialization, growing adoption of automation technologies, and increased investments in infrastructure development, the Asia Pacific area is anticipated to have considerable growth in the worldwide chipless RFID market.

The segmentation coverage of the study is provided below.
Global Chipless RFID Market based on Component Type:

• RFID Tags
• RFID Reader
• RFID Middleware Real-time Communication Solutions

Global Chipless RFID Market based on Industry:

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

Global Chipless RFID Market based on Geography:

• North America
  o US
  o Canada
• Europe
  o Germany
  o UK
  o France
  o Italy
  o Spain
  o Rest of Europe (RoE)
• Asia Pacific (APAC)
  o China
  o Japan
  o India
  o Australia
  o South Korea
  o Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
  o Brazil
  o Argentina
  o Rest of South America
• Middle East and Africa (MEA)
  o UAE
  o Turkey
  o Saudi Arabia
  o South Africa
  o Rest of Middle East & Africa

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