Chipless RFID technology allows the identification of objects without the use of integrated circuits. It offers several advantages over conventional RFID tags such as lower cost of production, improved data storage capacity, and sustainability. Chipless RFID tags are increasingly being used in the healthcare sector for applications such as medication tracking, medical device identification, and monitoring of patients. The growing need for improved supply chain management and patient safety in the healthcare industry is expected to drive the adoption of chipless RFID tags.
The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased penetration of chipless RFID tags in the healthcare sector can primarily be attributed to the key trend of digitization of healthcare. Governments across the world are promoting the adoption of digital tools and technologies in the healthcare industry to enhance operational efficiency. Chipless RFID technology allows automated data capture and real-time tracking of critical supplies and assets. This enables improved inventory management, prevents stock-outs and wastage, and ensures optimal resource utilization. Various hospitals and healthcare facilities are implementing chipless RFID solutions for applications such as tracking medical equipment and patient monitoring. This is expected to drive significant growth of the chipless RFID market over the forecast period.
Segment Analysis
The global Chipless RFID market is dominated by the product segment, which accounted for over XX% share of the total market in 2024. Chipless RFID tags find high usage in consumer goods, owing to benefits such as low cost and easy tags integration. These tags can be directly printed or laminated on product packaging during manufacturing.
Key Takeaways
The global Chipless RFID Market Share is expected to witness high growth during the forecast period of 2023 to 2030. The global Chipless RFID Market is estimated to be valued at US$ 6488.29 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Regional analysis shows that North America currently dominates the market due to high adoption across various industries. Asia Pacific is expected to witness the fastest growth over the coming years, owing to rising adoption in retail and manufacturing sectors in China and India.
Key players operating in the Chipless RFID market are Severn Trent Plc, Calgon Carbon Corporation, Xylem Inc., Trojan Technologies, General Lighting, Aquionics, Atlantium Technologies Ltd., Atlantic Ultraviolet Corporation, FirstLight Technologies Ltd., Green Water Technologies, Evoqua Water Technologies LLC, Advanced UV, Inc., Hydro, Photon, makers of SteriPEN, and Enaqua. The market is highly competitive with players focusing on developing innovative solutions to gain market share.
For more insights, read- https://www.newsanalyticspro.com/chipless-rfid-market-trends-size-and-share-analysis/
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