At 26.7% CAGR, Printed and Chipless RFID Market will hit US$ 16.29 billion by 2023
Oct 23, 2019
Aviation sector, which contributed to more than 12.5% towards printed and chipless RFID market share in 2015, is predicted to augment the business development over the coming years
Selbyville, United States - October 23, 2019 /MarketersMedia/ —
Printed and chipless RFID market is predicted to witness a profitable growth over the years to come, subject to the escalating product demand across the pharmaceutical, retail, logistics & transport, aviation, and healthcare sectors. With a plethora of technological innovations at play, industry players are finding numerous opportunities to explore new business growth opportunities across the globe. As stated by Global Market Insights, Inc., printed and chipless industry revenue, which was estimated at USD 2.52 billion in 2015, is slated to reach USD 16.29 billion by 2023.
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Europe printed and chipless RFID market is expected to witness a remarkable expansion over the coming timeframe, with UK and Germany likely to drive the regional growth. U.S. printed and chipless RFID industry is projected to accrue a revenue of more than USD 4.8 billion by 2023, recording a CAGR of 25% over the period of 2016-2023. Mounting product preference across supply chain activities, distribution network channels, and inventory control will boost the regional demand. Intensified requirements for documentation in government and medical sectors is expected to boost the growth of printed and chipless RFID market in the Asia Pacific region.
Logistics and transport sector is projected to contribute more than USD 6.3 billion toward printed and chipless RFID market revenue by 2023, driven by breakthroughs across nanotechnology, conductive inks, and printed inks sectors along with the rampant infrastructural expansion. Diminishing tag costs will further add value to the product and enhance its market credibility.
Aviation sector, which contributed to more than 12.5% towards printed and chipless RFID market share in 2015, is predicted to augment the business development over the coming years. Most of the aviation industry players have been lately integrating this technology with their products in order to achieve maximum efficiency levels.
The pharmaceutical segment is increasingly replacing chip-based tag with chip less tags owing to high unit costs, which is expected to positively affect the demand during forecast period. Radio-Frequency technology offers a few favourable circumstances to organizations for controlling inventory, for example, remote scanning of labels that have unique barcode for tracking items. Certain sorts of labels can be written again, which permits reading of a few labels at same time and empowers a whole heap of items to be inspected in the meantime.
Retail applications, which accounted for more than 29% of printed and chipless RFID market in 2015, are expected to make extensive contributions toward the industry value over the coming six years. Factors such as easy on-shelf accessibility, rise in the omni-channel selling activities, store execution, and accurate maintenance of stock records are anticipated to contribute significantly toward the business expansion.
Browse key industry insights spread across 122 pages with 35 market data tables & 29 figures & charts from the report, “Printed and Chipless RFID Market” in detail along with the table of contents @ https://www.gminsights.com/industry-analysis/printed-chipless-rfid-radio-frequency-identification-market
Market players are focusing on expanding their product portfolio through extensive investments in the R&D activities, product branding, customer relationship management, and product differentiation. Alien Technology Corporation, Zebra Technologies, TAGSYS RFID, Impinj Corporation, and Intermec Company are the key participants of printed and chipless RFID industry.
Some Points From Table Of Content: -
Chapter 3 Printed & Chipless RFID Market Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2012 - 2023
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
3.4.1.1. Reducing cost of tags
3.4.1.2. Demand for operational efficiency
3.4.1.3. Growth in the counterfeit items ecosystem
3.4.2. Industry pitfalls & challenges
3.4.2.1. Security concerns
3.5. Growth potential analysis
3.6. Porter’s analysis
3.7. Competitor landscape, 2015
3.8. PESTEL analysis
3.9. Technology landscape
3.9.1. RFID technology evolution
3.9.2. RFID components
3.9.3. Conventional vs. chipless RFID
Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/printed-chipless-rfid-radio-frequency-identification-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights, Inc.
Address: Global Market Insights, Inc., 4 North Main Street,
Phone: 3028467766
Website: https://www.gminsights.com/pressrelease/printed-chipless-rfid-market
Source: MarketersMedia
Release ID: 88930313
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