Dublin, March 26, 2021 (GLOBE NEWSWIRE) -- The "Global Chipless RFID Market By Product Type, By Frequency, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 - 2026" report has been added to ResearchAndMarkets.com's offering.
The Global Chipless RFID Market size is expected to reach $3.2 billion by 2026, rising at a market growth of 24.2% CAGR during the forecast period.
There has been a shift in focus towards the application of RFID in various commercial areas like access management, contactless payment, toll collection, tracking of goods and animals, and so on. This transition occurred due to the advent of radio-frequency identification (RFID) technology as a contactless identification technique. The RFID tags utilized previously were incorporated with chips which further expand the complete cost of the tagged products. Hence, the demand for low-cost RFID tags is increasing, which can be extensively utilized without adding complete cost to the tagged items.
The global chipless RFID market is expected to register considerable growth during the forecast period. The growth of the chipless RFID market is driven by various factors like high accuracy, low manufacturing cost, and offering more functions in comparison to other alternatives. Although, the major restraint for the global chipless RFID industry is the huge initial investment cost. Moreover, retailers are increasingly shifting their focus towards chipless RFID, which is anticipated to create lucrative opportunities for the chipless RFID market. In addition, economically developed countries are likely to observe massive penetration of chipless RFID technology in several retail segments. The growth of the chipless RFID market is anticipated to boost owing to various factors like the booming manufacturing industry, incentives in the Union Budget worldwide because of the COVID-19 pandemic.
By Product Type
Based on Product Type, the market is segmented into Tag and Reader. RFID tags segment is expected to be pushed by the increasing need for the effective supply chain management. Chipless RFID stores comprehensive data of products up to 2KB, which are tagged with chipless RFID. RFID tags product profit from the automatic recording of prices and other details when the customer comes to the counter without the need to scan each product, which eventually saves the time of the customer.
Based on Frequency, the market is segmented into High Frequency, Low Frequency and Ultrahigh Frequency. It is possible to detect all chipless RFID within range instantly & monitor the data in a system database. Therefore, it decreases human effort & error and offers superior accuracy. In addition, chipless RFID technology offers several features like chipless RFID tags are capable of read/write, automated, distinctively identifies every item or asset, among others.
Based on Application, the market is segmented into Smart Cards and Smart Ticket & Others. The High Frequency market dominated the Global Chipless RFID Market by Frequency 2019. The Low Frequency market is expected to showcase significant growth rate during the forecast period. Additionally, The Ultrahigh Frequency market is expected to exhibit highest CAGR of 24.8% during (2020 - 2026).
By End User
Based on End User, the market is segmented into Logistics & Transportation, BFSI, Retail, Healthcare, and Others. The transport and logistics segment is anticipated to be a significant application during the forecast period. The increasing public transit market is expected to boost the demand in upcoming years. The growth of the market is expected to be boosted by the development of modern infrastructure in nations like India, China, and Brazil. Radio-Frequency Identification technology is being adopted by various stores and warehouses across the globe to offer big data in order to reveal new insights to the management, enable Omni-channel retailing, enhance store execution, and improve customer experience, inventory accuracy, improve on-shelf availability, and decrease shrinkage.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is anticipated to grow at the promising growth rate over the forecast period. APAC region, particularly China is the major contributor to the global supply chain industry, and the companies in the country are heavily investing in the technology; for example, utilization of RFID labels in the logistic sector to enhance the production network market in the country.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the major forerunner in the Chipless RFID Market. Companies such as Avery Dennison Corporation, Zebra Technologies Corporation, NXP Semiconductors N.V., Alien Technology, LLC are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zebra Technologies Corporation, NXP Semiconductors N.V., Honeywell International, Inc., Avery Dennison Corporation, CCL Industries, Inc. (Checkpoint Systems, Inc.), Impinj, Inc., Alien Technology, LLC, Applied Wireless Identifications Group, Inc., IDtronic GmbH, and Invengo Technology Pte. Ltd.
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Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1.2 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Geographical Expansions
3.2.3 Acquisition and Mergers
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)
Chapter 4. Global Chipless RFID Market by Product Type
4.1 Global Chipless RFID Tag Market by Region
4.2 Global Chipless RFID Reader Market by Region
Chapter 5. Global Chipless RFID Market by Frequency
5.1 Global Chipless RFID High Frequency Market by Region
5.2 Global Chipless RFID Low Frequency Market by Region
5.3 Global Chipless RFID Ultrahigh Frequency Market by Region
Chapter 6. Global Chipless RFID Market by Application
6.1 Global Smart Cards Chipless RFID Market by Region
6.2 Global Smart Ticket & Others Chipless RFID Market by Region
Chapter 7. Global Chipless RFID Market by End User
7.1 Global Logistics & Transportation Chipless RFID Market by Region
7.2 Global BFSI Chipless RFID Market by Region
7.3 Global Retail Chipless RFID Market by Region
7.4 Global Healthcare Chipless RFID Market by Region
7.5 Global Others Chipless RFID Market by Region
Chapter 8. Global Chipless RFID Market by Region
8.1 North America Chipless RFID Market
8.2 Europe Chipless RFID Market
8.3 Asia Pacific Chipless RFID Market
8.4 LAMEA Chipless RFID Market
Chapter 9. Company Profiles
9.1 Zebra Technologies Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Regional & Segmental Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
22.214.171.124 Acquisition and Mergers:
126.96.36.199 Partnerships, Collaborations, and Agreements:
9.1.6 SWOT Analysis
9.2 NXP Semiconductors N.V.
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
188.8.131.52 Partnerships, Collaborations, and Agreements:
9.2.6 SWOT Analysis
9.3 Honeywell International, Inc.
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Regional & Segmental Analysis
9.3.4 Research & Development Expenses
9.3.5 SWOT Analysis
9.4 Avery Dennison Corporation
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Segmental and Regional Analysis
9.4.4 Research & Development Expense
9.4.5 Recent strategies and developments:
184.108.40.206 Acquisition and Mergers:
220.127.116.11 Partnerships, Collaborations, and Agreements:
18.104.22.168 Geographical Expansions:
9.5 CCL Industries, Inc. (Checkpoint Systems, Inc.)
9.5.1 Company Overview
9.5.2 Financial Analysis
9.5.3 Segmental and Regional Analysis
9.6 Impinj, Inc.
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Regional Analysis
9.6.4 Research & Development Expense
9.7 Alien Technology, LLC
9.7.1 Company Overview
9.7.2 Recent strategies and developments:
22.214.171.124 Partnerships, Collaborations, and Agreements:
9.8 Applied Wireless Identifications Group, Inc.
9.8.1 Company Overview
9.9 IDtronic GmbH
9.9.1 Company Overview
9.10. Invengo Technology Pte. Ltd.
9.10.1 Company Overview
9.10.2 Recent strategies and developments:
126.96.36.199 Acquisition and Mergers:
188.8.131.52 Geographical Expansions:
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