New York, Feb. 25, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Global Chipless RFID Market By Product Type, By Frequency, By Application, By End User, By Region, Industry Analysis and Forecast, 2020 – 2026” – https://www.reportlinker.com/p06028124/?utm_source=GNW
This transition occurred due to the advent of radio-frequency identification (RFID) technology as a contactless identification technique. The RFID tags utilized previously were incorporated with chips which further expand the complete cost of the tagged products. Hence, the demand for low-cost RFID tags is increasing, which can be extensively utilized without adding complete cost to the tagged items.
The global chipless RFID market is expected to register considerable growth during the forecast period. The growth of the chipless RFID market is driven by various factors like high accuracy, low manufacturing cost, and offering more functions in comparison to other alternatives. Although, the major restraint for the global chipless RFID industry is the huge initial investment cost. Moreover, retailers are increasingly shifting their focus towards chipless RFID, which is anticipated to create lucrative opportunities for the chipless RFID market. In addition, economically developed countries are likely to observe massive penetration of chipless RFID technology in several retail segments. The growth of the chipless RFID market is anticipated to boost owing to various factors like the booming manufacturing industry, incentives in the Union Budget worldwide because of the COVID-19 pandemic.
By Product Type
Based on Product Type, the market is segmented into Tag and Reader. RFID tags segment is expected to be pushed by the increasing need for the effective supply chain management. Chipless RFID stores comprehensive data of products up to 2KB, which are tagged with chipless RFID. RFID tags product profit from the automatic recording of prices and other details when the customer comes to the counter without the need to scan each product, which eventually saves the time of the customer.
Based on Frequency, the market is segmented into High Frequency, Low Frequency and Ultrahigh Frequency. It is possible to detect all chipless RFID within range instantly & monitor the data in a system database. Therefore, it decreases human effort & error and offers superior accuracy. In addition, chipless RFID technology offers several features like chipless RFID tags are capable of read/write, automated, distinctively identifies every item or asset, among others.
Based on Application, the market is segmented into Smart Cards and Smart Ticket & Others. The High Frequency market dominated the Global Chipless RFID Market by Frequency 2019. The Low Frequency market would showcase significant growth rate during the forecast period. Additionally, The Ultrahigh Frequency market would exhibit highest CAGR of 24.8% during (2020 – 2026).
By End User
Based on End User, the market is segmented into Logistics & Transportation, BFSI, Retail, Healthcare, and Others. The transport and logistics segment is anticipated to be a significant application during the forecast period. The increasing public transit market is expected to boost the demand in upcoming years. The growth of the market is expected to be boosted by the development of modern infrastructure in nations like India, China, and Brazil. Radio-Frequency Identification technology is being adopted by various stores and warehouses across the globe to offer big data in order to reveal new insights to the management, enable Omni-channel retailing, enhance store execution, and improve customer experience, inventory accuracy, improve on-shelf availability, and decrease shrinkage.
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. Asia-Pacific is anticipated to grow at the promising growth rate over the forecast period. APAC region, particularly China is the major contributor to the global supply chain industry, and the companies in the country are heavily investing in the technology; for example, utilization of RFID labels in the logistic sector to enhance the production network market in the country.
The major strategies followed by the market participants are Partnerships. Based on the Analysis presented in the Cardinal matrix; Honeywell International, Inc. is the major forerunner in the Chipless RFID Market. Companies such as Avery Dennison Corporation, Zebra Technologies Corporation, NXP Semiconductors N.V., Alien Technology, LLC are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Zebra Technologies Corporation, NXP Semiconductors N.V., Honeywell International, Inc., Avery Dennison Corporation, CCL Industries, Inc. (Checkpoint Systems, Inc.), Impinj, Inc., Alien Technology, LLC, Applied Wireless Identifications Group, Inc., IDtronic GmbH, and Invengo Technology Pte. Ltd.
Strategies deployed in Chipless RFID Market
Dec-2020: Avery Dennison came into partnership with Schreiner MediPharm and PragmatIC Semiconductor. The companies together utilize NFC technology to expand their smart packaging to the unit-level for general pharma, which significantly enhances patient safety and experiences.
Sep-2020: Zebra Technologies Corporation took over Reflexis Systems, a provider of AI-powered workforce management, execution and communication solutions. The acquisition integrated Reflexis’ market-leading platform with Zebra Technologies’ complementary software offerings and offered a distinct opportunity to unite the store associate experience. Following the acquisition, the company also empowered each and every front-line worker to implement the best next action.
Jun-2020: Zebra Technologies Corporation collaborated with South Carolina State University. In this collaboration, the former company aimed to offer enterprise-class insights into the supply chain for the local, small farmer with their partners to the latter company.
Jun-2020: Zebra Technologies Corporation came into collaboration with Maikubo Artificial Intelligence (AI) Academy. Under which, Maikubo implemented RFID solutions of Zebra technologies to attain a faster, more accurate asset tagging and management of its training equipment. The solution saved staff time, enhanced accuracy and visibility as well as the enhanced staff efficiency.
Mar-2020: Avery Dennison Corporation acquired Smartrac’s Transponder business. Under this acquisition, the companies aimed to develop a platform that offers a long-term growth and profitability, with powerful research and development capabilities, extended product portfolio and added manufacturing capacity. The capabilities of Smartrac helped Avery to continue its delivery on this vision on various segments.
Feb-2020: Avery Dennison opened up a new manufacturing facility in Brazil. This new factory helped to fulfill the market growth witnessed by the latest demands for projects in different verticals with the company’s advanced technology to manufacture the Radio Frequency Identification inlays.
Nov-2019: NXP Semiconductors joined hands with Identiv along with TPG Rewards, and Kraft Heinz. Together, the companies makes the Find the KRAFT Golden Singles reward scratch game, powered by Identiv’s near field communication (NFC)-enabled tag and NXP’s NFC NTAG connected solution. The NFC-enabled tags by Identiv are implemented into KRAFT Singles 24-count instant redeemable coupon (IRC) labels that can be accessed only at Walmart. These tags are based on NXP’s state-of-the-art secure authentication NFC NTAG 213 TagTamper connected solution. The solution provides security to NFC Internet of Things (IoT) applications and offers the most efficient method for digitally connected products.
Mar-2019: Avery Dennison partnered with Kit Check, the leader in automated medication management solutions for hospitals. Following this partnership, the companies are working directly with drug manufacturers worldwide for applying RFID tags to medication packaging.
Nov-2018: Avery Dennison entered into partnership with Smag Graphique, a French Manufacturing Company. The partnership helped in easier market access for label converters who look forward to provide RFID conversion options. Following the partnership, Avery Dennison’s customers visited Smag Graphique’s showroom in France, where the machine manufacturer displayed its dedicated RFID embedding machines for roll-to-roll RFID insertion and encoding.
Mar-2018: NXP Semiconductors came into partnership with AliOS, the operating system for Internet of Things (IoT) solutions developed by Alibaba Group. The partnership further boosted the production of smart cars in China. The partnership focused on installing the AliOS system and NXP’s automotive infotainment solution in the vehicles in China by 2020. Together, the companies built a next-generation smart cockpit improved by artificial-intelligence-driven interaction, multi-screen display, and secure Over-the-Air (OTA) updates.
Apr-2017: Avery Dennison signed a partnership with Target Corporation, an American retail corporation. Under this partnership, Target deployed RFID technology to more than 1,600 shops to assist in maximizing inventory availability and provide an improved customer experience.
Scope of the Study
Market Segments covered in the Report:
By Product Type
• High Frequency
• Low Frequency
• Ultrahigh Frequency
• Smart Cards
• Smart Ticket & Others
By End User
• Logistics & Transportation
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Zebra Technologies Corporation
• NXP Semiconductors N.V.
• Honeywell International, Inc.
• Avery Dennison Corporation
• CCL Industries, Inc. (Checkpoint Systems, Inc.)
• Impinj, Inc.
• Alien Technology, LLC
• Applied Wireless Identifications Group, Inc.
• IDtronic GmbH
• Invengo Technology Pte. Ltd.
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Read the full report: https://www.reportlinker.com/p06028124/?utm_source=GNW
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