Printed and Chipless RFID Market in U.S. is set to grow with over 25% CAGR during the forecast timeline. Early adoption of this technology in various application will spur the demand in this region. North America is the largest consumer market among all the regions.
Asia Pacific printed and chipless RFID market is characterized by increasing demand from medical institutions and government agencies to facilitate document management, and this trend will continue over the study period. The development of technology framework in nations such as India, Brazil, and China is expected to further increase the demand for printed and chipless RFID market.
By application, retail sector acquired more than 28% of the total printed and chipless RFID market. Retail segment benefitted by this technology owing to benefits such as improved customers experience, monitoring of availability & inventory accuracy will further increase the adoption.
Printed and chipless RFID market in the pharmaceutical segment is increasingly replacing chip-based tag with chip less tags owing to high unit costs, which is expected to positively affect the demand during forecast period. Radio-Frequency technology offers a few favourable circumstances to organizations for controlling inventory, for example, remote scanning of labels that have unique barcode for tracking items. Certain sorts of labels can be written again, which permits reading of a few labels at same time and empowers a whole heap of items to be inspected in the meantime.
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Aviation industry put up over USD 300 million in 2015. Favorable regulatory landscape in this segment will stimulate the demand in estimated period. Major initiatives from the government like issuing of E-passports and providing aid in various electronic transactions in increasing the scope of application for aviation segment.
Printed and Chipless RFID Market in 2015 reached USD 2.2 billion, it is estimated to cross USD 16 billion by 2022 with over 26.5% CAGR. Increasing need for efficient solutions and development in RF technology in information transfer is driving the industry growth.
The growing significance in aviation & retail industry to make operation efficient will drive the demand for printed and chipless RFID market. Increased use of technology in applications such as stock, item administration, resource following in store networks, smart cards, pharmaceutical, in retail will stimulate the integration of this technology to replace traditional methods.
RFID uses different frequencies such as low (LF), high (HF) and ultra high frequency (UHF) used as per the requirement in various areas spanning asset tracking, animal tracking smart card & access control operations.
High initial expense of implementing the system is hindering the adoption rate for this technology. However, usage cost is predicted to diminish following couple of years attributed to technological developments and increment in companies offering solutions at reasonable prices.
Increasing applicability of radio-frequency technology in various distribution centres worldwide to upgrade client experience, enhance store execution, stock precision, improve on-rack accessibility, omni-channel retailing provides a large addressable market.