Chipless RFID market to grow at a CAGR of 29.3%

Press Release   •   Jul 30, 2012 15:54 BST

The global chipless RFID market is expected to generate revenues worth $3,925 million in 2016, increasing at a compound annual growth rate (CAGR) of 29.3%, from a value of $1,087 million in 2011.

Market growth within the chipless RFID market is set to be driven by RFID tags being developed and offered on the affordability level of customers, coupled with a simplified manufacturing technology and decrease in the manufacturing time.

The next 10 years will see chipless tags gain market share rapidly. The numbers sold globally will rise from 5 million (0.4%) in 2006 to 267 billion (45%) in 2016.

These chipless tags could eventually be printed directly on products and packaging for 1¢. Far more versatile and reliable, the tags could replace 10 trillion barcodes per year.

The US is a pioneer in the chipless RFID market, and contributes the highest market share of 44% with a CAGR of 23.2%, followed by Europe and Asia Pacific who have an equal share of the market. Europe and APAC is expected to grow by 28.9% and 37.0% respectively.

Looking at the growth of Asian economies like China and India. Asia Pacific is expected to contribute 37% which will be highest. US, Western Europe and China will be the demand drivers of chipless RFID market.

For more information on the chipless RFID market, see the latest research: Chipless RFID Market Report

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