Deep Analysis of Impact of COVID-19 on “Printed And Chipless RFID Market 2014-2022” Growth Worldwide….


The global printed and chipless RFID market is expected to reach USD 15.3 billion by 2022, according to a new study by Grand View Research, Inc. Development of affordable tags owing to simplified manufacturing technology and decreased manufacturing time have contributed significantly to chipless RFID market growth over the forecast period. Compatibility with existing infrastructure with equal efficiency as chip-based tags saves the additional cost of new system installation.
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.
Suppliers have realized the need for efficient solutions in various applications such as smart cards, supply chain, pharmaceutical, and retail. The pharmaceutical industry is replacing chip-based tag with chipless tags due to high unit prices, which is expected to favorably impact the industry.
Chipless RFID provides various solutions including anti-counterfeiting and asset tracking to avoid theft in retail. Government initiatives for e-passports, increasing electronic transactions, dynamic conditions in the aviation industry, and increased revenue by customer delights are some of the drivers expected to favorably impact chipless RFID market growth.
High initial cost of system implementation is expected to pose a challenge to technology adoption. Implementation cost is anticipated to decrease over the next few years owing to technological advancement and increase in players offering solutions at competitive prices.
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https://www.grandviewresearch.com/industry-analysis/chipless-rfid-radio-frequency-identification-market/request/rs1
Further key findings from the study suggest:
·         Growth in public transit industry is expected to drive printed and chipless RFID market demand in transportation applications. In these applications, use of contact and contactless smart cards increases the operational efficiency of the overall transportation system and saves travel time. Contact-based cards need to have a physical contact with the reader; however, they can be placed in close proximity of the reader to initiate the communication process.
·         In retail, the technology is used for stock tracking, supply chain management, check product availability, reverse logistics and reducing loss due to shrinkage. The segment contributed to over 25% of the global revenue in 2014.
·         Government departments in collaboration with other agencies have initiated research and development projects. Asia Pacific printed and chipless RFID market is expected to exhibit CAGR of over 30% from 2015 to 2022, primarily due to high growth prospects in regions such as China and India.
·         Zebra Technologies acquired Motorola Solutions Enterprise Business in October 2014. Through this acquisition, Zebra has gained Motorola’s mobile computing, bar coding, card printing, cloud-based devices, and RFID hardware businesses. The global industry comprises other notable players include Impinj Corporation, Alien Technology, Intermec, and TAGSYS.
·         Players in the industry practice high degree of innovation to offer unique solutions. Key competitive factors include the design, breadth, and quality of products and services, warranty coverage, product and service availability, product performance, brand recognition, company relationships with customers, and go-to-market channel partners and company reputation.
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.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-printed-chipless-rfid-market
Grand View Research has segmented the global printed and chipless RFID market on the basis of application:
Printed And Chipless RFID Application Outlook ( USD Million; 2012 - 2022)
·         Retail
·         Transport & logistics
·         Aviation
·         Healthcare
Online Movie Ticketing Services Regional Outlook (Revenue, USD Billion, 2012 - 2022)
·         North America
·         Europe
·         Asia Pacific
·         Latin America
·         Middle East and Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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