The global printed and chipless RFID market size was estimated at over USD 2 billion in 2014. The increasing need among companies for supply chain visibility and inventory management is driving the industry demand. Decreasing cost of a tag is also anticipated to drive gains over the forecast period. Public transit industry is expected to increasingly adopt this technology over the next seven years owing to lower cost and increased functionality as compared to other substitutes.
Few major public transport schemes using RFID technology include Oyster Card (UK), Octopus Card (China), T-Monet (Seoul), Ventra (the U.S.), and Saint Petersburg City Card (Russia); these cards are used for local public transport and even railway systems.
Technological development is anticipated to bring down the cost of solution implementation over the forecast period. Radio-Frequency Identification technology system offers several advantages to companies for stock control, such as remote reading of tags, which have unique identification codes for tracking individual products. Certain types of tags can be overwritten, which allows reading of several tags simultaneously and enables an entire pallet-load of products to be checked at the same time.
The increasing availability of counterfeit items, particularly in the healthcare application, is expected to negatively impact the end-use market. To save the brand image and prevent the adverse effect of counterfeit drugs, pharmaceutical companies have started adopting RFID technologies to increase visibility across the value chain. This has not only helped companies in operational effectiveness but also helped companies track their products.
Transport and logistics segment is estimated to be the major application over the forecast period followed by retail. Growing public transit industry is anticipated to drive demand in the future. The segment accounted for over 30% of the overall revenue share in 2014 and is expected to grow at a CAGR greater than 25% over the forecast period.
The growth of modern infrastructure in countries such as India, China, and Brazil is anticipated to boost market growth over the forecast period. Radio-Frequency Identification technology is being deployed at numerous warehouses and stores worldwide to enhance customer experience, improve store execution, inventory accuracy, enhance on-shelf availability, reduce shrinkage, enable omni-channel retailing, and provide big data to reveal new insights to the management.
Radio-Frequency Identification applications can help in inventory, product management, asset tracking, and provide solutions for anti-counterfeiting. The increasing importance of aviation and retail industry to lower expenditure or make operation efficient will drive the demand for low cost printed and chipless RFID market.
North America printed and chipless RFID market accounted for over 35% of the revenue in 2014. The U.S. is expected to contribute over 75% of the regional market in 2014 and is estimated to grow at a significant rate over the forecast period.
U.S. based companies are adopting this technology to make their supply chain management effective and efficient and increase inventory visibility. US Department of Defense (DOD) and Food and Drugs Association (FDA) have encouraged the use of RFID technology for supply chain management and for tracking and tracing products.
The global printed and chipless RFID market is highly competitive, and key industry participants include Alien Technology Corporation, Impinj Corporation, TAGSYS, Intermec, Zebra Technologies, Acreo AB, IBM Corporation, Siemens AG, and Thin film.
Zebra Technologies offers a solution for retail, warehouse, healthcare, field mobility, manufacturing, location, hospitality and transportation and logistics. Its product solution includes mobile computers supplies, accessories, Radio-Frequency Identification Wristband, printer parts, Radio-Frequency Identification solution, printers, barcode scanners, location solution, software, wireless networks, and tablets. In April 2014, The company announced a collaboration with Trimble on the internet of things solution to integrate Radio-Frequency Identification into Zatar, Zebra’s cloud-based platform for the internet of things.
Alien Technologies serves consumer packaged goods, retail, apparel, pharmaceutical, government and defense, corporate, manufacturing, universities, life-sciences, airports and cargo logistics, transportation, chemical, and healthcare industry worldwide.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.