Printed and Chipless RFID Market Size

Printed and Chipless RFID Market Size

Printed and Chipless RFID Market size was USD 2.52 billion in 2015, and is forecast to grow with 26.7% CAGR to surpass USD 16 billion by 2023./p>

Radio frequency identification is employed in the transport sector, where contactless and contact smart cards contribute to the operational efficiency as well as save commute time. The segment will grow at 28% CAGR expectations from 2016 to 2023 to exceed USD 6 billion by 2023./p>

Tangible benefits in inventory control are also likely to augment industry revenue. Remote reading of tags containing unique codes for tracking, as well as simultaneous reading enabling a large volume of products to be checked are among other advantages of this approach./p>

Growing R&D and developments in nanotechnology and conductive inks will present viable growth opportunities to incumbent participants. Need to counter the expanding counterfeit drugs ecosystem is forecast to propel adoption across the pharmaceutical sector./p>

Barriers to revenue mainly included high capital investment. However, low printed and chipless RFID market price trend due to reducing solution cost with the help of technological advancements will drive growth. Concerns regarding privacy and the possibility of sensitive data leak will spur security initiatives in the coming years.