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Printed and Chipless RFID Market in logistics and transport sectors to exceed USD 6.3 cross by 2023

Author : Ronak Bora | Published Date : 2019-03-14 

Printed and Chipless RFID Market in logistics and transport sectors is predicted to witness significant growth till 2023. This is further aided by decreasing cost of tags, mainly due to advancements in the fields of nanotechnology, printed electronics, and conductive inks. Infrastructure modernization in BRIC nations will also benefit the transport sector. Ability of printed and chipless RFID systems to automate function and support long range processes has enhanced its popularity across aviation, retail, healthcare, and logistics & transport sectors. Printed and Chipless RFID market revenue in the healthcare sector will increase substantially over the coming seven years. Its major application in staff identification, patient data tracking, inventory control, and document management will succor the growth.

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Printed and chipless RFID market size in healthcare applications is anticipated to witness steady growth in the coming years. Implanting the tag can help provide faster solutions, and link clinical personnel to relevant medical records for patients suffering from syndromes that hamper communication.

Aviation application, which collected a revenue of USD 300 million in 2015, is anticipated to propel the industry development over the coming timeframe. Retail sector, which accounted for 29% of printed and chipless RFID industry share in 2015, is expected to embellish the industry size over the next few years. Escalated application of   RFID technology in various retail activities to improve customer service, auctions, and operational efficiency will drive the revenue.

Growth in the counterfeit items industry results in reduced profitability, which can be avoided by printed and chipless RFID market implementation across the sector. Along with product tracking and streamlined operation, technology adoption also contributes to improved brand image. A growing trend in the industry is increased popularity among small and midsized businesses (SMB).

Technology benefits in supply chain management comprise automatic scanning, enhanced visibility, labor reduction, asset tracking, traceable warranties, item level tracking, product recalls, and quality control.

Quantifiable advantages in stock control and security is expected to be one of the key drivers for the global printed and chipless RFID market size. This has driven adoption among actors across the supply chain, including manufacturers, distributors, wholesalers, and retailers. In the retail industry, the use of this technology helps increase sales, boost customer service, improve visibility, operational efficiency, etc.

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The rising popularity of printed and chipless RFID technology will attract new entrants to enter the business and this will make the industry more competitive. Hence, existing market players will try to gain competitive edge and capture maximum share by adopting successful business strategies such as product differentiation, technological innovations, effective marketing & branding, and building strong customer relationships.

U.S. printed and chipless RFID market is expected to reach USD 4.8 billion by 2023. Major industry participants in the U.S. are making use of this system to carry out support supply chain activities just in time.

Europe printed and chipless RFID market share is forecast to exceed 25% by 2023. Germany and the UK are the major regional contributors to this growth.

Major participants include Zebra Technologies, Alien Technology Corporation, Intermec, TAGSYS RFID, etc. Competitive advantage is based on parameters include product differentiation, go-to-market channel partners, performance, availability, etc.

Widespread application of RFID technology in supply chain, retail, access control, and manufacturing will push printed and chipless RFID market growth over the coming six years. Rapid innovations in nanotechnology and high investments in research activities will generate new growth avenues for the industry. According to Global Market Insights, Inc., “Printed and Chipless RFID Industry revenue is anticipated to hit USD 16.29 billion by 2023.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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