RFID market size is expected to reach US$ 6 Bn by 2028.

The RFID tag market size is estimated to be US$ 2 Bn in 2022. It is further found in the publisher's study that the market size is expected to reach US$ 6 Bn by 2028.

Global Chipless Radio Frequency Identification Market is expected to grow at a CAGR of 25% over the next six years (2022-2028) owing to high precision and advanced features for banking, healthcare, retail, and logistic industries.

Furthermore, chipless RFID technology offers a wide number of characteristics at a lower price than conventional RFIDs, such as exceptional read/write capabilities, automation, and the ability to individually identify each asset or item.

The growing need for high accuracy and advanced features in RFID technology for banking, healthcare, retail and logistic industries, among other verticals is expected to propel the growth of the chipless radio frequency identification market. Moreover, the low cost of Chipless RFID tags over traditional RFID tags further accelerates the market growth.

Manufacturing of a chipless RFID tag is relatively inexpensive as it does not require a silicon chip or batteries inside the tag for tracking of product which reduces the hassle of maintenance and prices of these tags.