The US$ 477.7 Million chipless RFID market is estimated to reach US$ 3,058.2 Million by 2024-end, reflecting a robust CAGR of 26.1% during the forecast period (2016-2024). The retail sector will play a crucial role in driving the market growth globally over the next couple of years. Adoption of chipless RFID is expected to remain high in stores for smart shelves and item-level tagging.” — Persistence Market Research (PMR) FID
Global Chipless RFID Market: Key Stakeholders
US-based chipless RFID manufacturers will continue their dominance with companies such as Xerox Corporation and Zebra technologies leading the pack on a global level. PMR’s analysis reveals that strategic partnerships amongst players will remain a key trend throughout the forecast period in order to penetrate narrower channels of the market. Thin Film Electronics ASA, Spectra System, Tag Sense, Politronica, and Molex are some of the other companies who have significantly increased their footprints in the global chipless RFID market in recent years.
For detailed insights on enhancing your product footprint, request for a Sample Report here https://www.persistencemarketresearch.com/samples/10768
According to PMR’s latest report on the global market for chipless RFID, issues associated with data characteristics is likely to inhibit the overall growth of the market during the assessment period. Further, technological stringency is translating into operational restrictions of chipless RFID. Tags developed using chipless RFID technology are susceptible to various physical and virtual attacks, which increases the possibilities of data misuse. These tags are easily accessible making any private information stored in them prone to malignant threats. On the other hand, factors such as cost effective manufacturing technology, rapid adoption in sectors such as banking and healthcare and growing need for efficient supply chain management are expected to define the market growth over the next couple of years.
Sturdy Consumption of Chipless RFID Tag
As per the projection, demand for chipless RFID tag will gain maximum traction, while chipless RFID reader will emerge as the second largest segment of the market over 2024 on the basis of component type. In terms of revenue, the RFID tag segment is anticipated to expand at the fastest CAGR of 31.4% over the forecast period, followed by RFID reader segment.
Usage of Chipless RFID Will Remain High In Retail & Consumer Goods Industry
Based on industry type, the retail & consumer goods segment is set to expand at a significant CAGR of 29.3% in terms of value over the forecast period. In 2016, the segment stood at a market valuation of US$ 194.2 Million and is expected to remain dominant in terms of revenue share throughout the forecast period. The logistics & manufacturing is expected to remain the second largest segment of the market, surpassing a market valuation of US$ 984 Million by 2024 end.
Global Chipless RFID Market: Regional Outlook
In terms of revenue, North America is projected to be the most attractive market for chipless RFID market during the forecast period. In 2016, the region dominated the overall global chipless RFID market and is expected to reach US$ 1,217.5 Million by 2024 end, reflecting a CAGR of 27.3%. The chipless RFID market in Asia Pacific (APAC) is foreseen to expand at the highest CAGR over the forecast period, followed by North America and Europe respectively. The growth of the market in APAC is primarily attributed to the growing investment by various industries in modernizing data maintenance technology in order to improve their business efficiency.
Request For Methodology of this Report here https://www.persistencemarketresearch.com/methodology/10768
- Zebra Technologies Corporation
- Xerox Corporation
- Thin Film Electronics ASA
- Spectra Systems
- Smiths Detection
- Tag Sense Inc.
- Politronica Inkjet Printing S.r.l.
- Molex Inc.
Our unmatched research methodologies set us apart from our competitors. Here’s why:
- PMR’s set of research methodologies adhere to the latest industry standards and are based on sound surveys.
- We are committed to preserving the objectivity of our research.
- Our analysts customize the research methodology according to the market in question in order to take into account the unique dynamics that shape the industry.
- Our proprietary research methodologies are designed to accurately predict the trajectory of a particular market based on past and present data.
- PMR’s typical operational model comprises elements such as distribution model, forecast of market trends, contracting and expanding technology applications, pricing and transaction model, market segmentation, and vendor business and revenue model.
For in-depth competitive analysis, Check Pre-Book here https://www.persistencemarketresearch.com/checkout/10768
Persistence Market Research, as a 3rd-party research organization, does operate through an exclusive amalgamation of market research and data analytics for helping businesses ride high, irrespective of the turbulence faced on the account of financial/natural crunches.
Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – email@example.com