San Francisco, Nov. 17, 2015 (GLOBE NEWSWIRE) -- The global printed and chipless RFID market is expected to reach USD 15.3 billion by 2022, according to a new study 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.
Browse to access In-depth research report on Global Printed And Chipless RFID Market with detailed charts and figures: http://www.grandviewresearch.com/industry-analysis/chipless-rfid-radio-frequency-identification-market
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.
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Further key findings from the study suggest:
- Growth in public transit industry is expected to drive printed and chipless RFID market demand in transportation applications. In these applications, use of contact and contactless smart cards increases the operational efficiency of the overall transportation system and saves travel time. Contact-based cards need to have a physical contact with the reader; however, they can be placed in close proximity of the reader to initiate the communication process.
- In retail, the technology is used for stock tracking, supply chain management, check product availability, reverse logistics and reducing loss due to shrinkage. The segment contributed to over 25% of the global revenue in 2014.
- Government departments in collaboration with other agencies have initiated research and development projects. Asia Pacific printed and chipless RFID market is expected to exhibit CAGR of over 30% from 2015 to 2022, primarily due to high growth prospects in regions such as China and India.
- Zebra Technologies acquired Motorola Solutions Enterprise Business in October 2014. Through this acquisition, Zebra has gained Motorola’s mobile computing, bar coding, card printing, cloud-based devices, and RFID hardware businesses. The global industry comprises other notable players include Impinj Corporation, Alien Technology, Intermec, and TAGSYS.
- Players in the industry practice high degree of innovation to offer unique solutions. Key competitive factors include the design, breadth, and quality of products and services, warranty coverage, product and service availability, product performance, brand recognition, company relationships with customers, and go-to-market channel partners and company reputation.
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Grand View Research has segmented the global printed and chipless RFID market on the basis of application and region:
Printed And Chipless RFID Application Outlook ( USD Million; 2012 - 2022)
- Transport & logistics
Online Movie Ticketing Services Regional Outlook (Revenue, USD Billion, 2012 – 2022)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Source:Grand View Research