Printed and Chipless RFID Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2016 – 2023: Fractovia.org Rising breakthroughs in nanotechnology, conductive inks, and printed electronics are predicted to reduce the cost of tags. Tangible advantages accrued due to the use of printed & chipless RFID technology in stock & inventory control are predicted to benefit the printed and chipless RFID market over the coming years. This will further boost the acceptance of this technology in manufacturing, transport & logistics, and retail industries. Growing requirement to inhibit the growth of counterfeit drug ecosystem industry is expected to encourage the acceptance of printed & Chipless RFID technology in the pharmaceutical industry. According to Global Market Insights Inc., “Global Printed and Chipless RFID market is predicted to exceed USD 16 billion by 2023, growing at a CAGR of 26.7% over the period of 2016-2023.”
Printed & Chipless RFID technology finds myriad applications in logistics & transport, aviation, retail, and healthcare industries. The applications in the logistics & transport industry are predicted to surpass USD 6 billion mark by 2023. The technology is used in the transportation industry to increase operational and time efficiency. The Printed & Chipless RFID technology applications in aviation industry estimated at USD 300 million in 2015, are predicted to grow at a CAGR of 12.5% over the period of 2016-2023 due to their efficiency and cost-effectiveness. Printed & Chipless RFID technology applications in the retail industry contributed over 29% of the overall revenue in 2015, and is predicted to witness a high growth over the period of 2016-2024 due to growing consumer satisfaction, accurate store execution & inventory control, on-shelf accessibility, and omni-channel distribution activities. Favorable government norms are predicted to enhance the use of the printed & chipless RFID technology in the healthcare industry. Few of the other applications of this technology in healthcare includes patient tracking, staff identification, surgical equipment track & trace, inventory control, and document management systems.
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