PUBLISHER: Grand View Research | PRODUCT CODE: 1553975
PUBLISHER: Grand View Research | PRODUCT CODE: 1553975
The global printed and chipless RFID market size is expected to reach USD 19.37 billion by 2030, registering a CAGR of 21.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Development of affordable tags owing to simplified manufacturing technology and decreased manufacturing time have contributed significantly to chipless RFID market growth over the forecast period. Compatibility with existing infrastructure with equal efficiency as chip-based tags saves the additional cost of new system installation.
Suppliers have realized the need for efficient solutions in various applications such as smart cards, supply chain, pharmaceutical, and retail. The pharmaceutical industry is replacing chip-based tag with chipless tags due to high unit prices, which is expected to favorably impact the industry.
Chipless RFID provides various solutions including anti-counterfeiting and asset tracking to avoid theft in retail. Government initiatives for e-passports, increasing electronic transactions, dynamic conditions in the aviation industry, and increased revenue by customer delights are some of the drivers expected to favorably impact chipless RFID market growth.
High initial cost of system implementation is expected to pose a challenge to technology adoption. Implementation cost is anticipated to decrease over the next few years owing to technological advancement and increase in players offering solutions at competitive prices.