PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1574117
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1574117
The chipless RFID market is expected to grow at a CAGR of 21.46%, reaching a market size of US$6.574 billion in 2029 from US$2.488 billion in 2024.
Worldwide, numerous industries, from retail to logistics, healthcare, pro automotive, and the skies, are embracing the use of chipless RFID technology. Compared to the conventional chip-based RFID systems, advantages such as non-line-of-sight identification, real-time tracking, and cost-effectiveness have attracted many people to adopt chipless RFID technology. The retail industry has positively affected the world's demand for improved controls over inventory management, better customer service delivery, and more efficient operations, for example. Chipless RFID technology helps retail stores achieve smooth checkout processes, reduce stock-outs and product visibility, and optimize their e-stock levels, among others. On top of that, pharmaceutical and health industries have started using this kind of technology for various purposes, such as drug distribution, asset management, and patient monitoring.
Market demand for improved read range capabilities has become a key driver of this industry. The read range is the distance between the chip-less RFID readers and tags through which accurate DC data can be retrieved. This demand has largely been fueled by the need to make RFID systems more effective, flexible, and efficient in different sectors. If chip-less RFID technology increases its read range, firms will gain extensive coverage by taking data from tags placed at longer distances. This would enable further scanning and tracking functions where it is possible to identify and control assets or products over huge areas regardless of their proximity.
Chipless RFID Market Geographical Outlook
The speed at which RFID technology is finding its way into IoT systems in North America is rising due to a growing demand for more accurate tracking and identification capabilities that optimize a system and all devices in a multi-unit approach. Using RFID tags increases the accuracy and efficiency of Internet of Things applications for industries by providing real-time data on an item's location and status.
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