Businesses are constantly looking to increase automation, and by doing so, businesses, Large or micro, medium and small enterprises (MSME) are looking to create cost cutting and growth opportunities.
With changing consumer behavior, attributed to yearlong pandemic and looming recession, it is of utmost importance to fill the operational gaps, improve efficiency and reduce human error in order to make any business profitable.
Having a technological outlook towards business can help in this regard. Use of AIDC technologies like RFID, Barcodes, QR codes, NFC tags, BLE tags amongst several other contactless, wireless options can felicitate automation in businesses without much hassle.
Here are TOP 5 RFID trends to felicitate automation in various businesses:
• Passive UHF RFID tags:
According to Statista,
“In 2023, the RFID technology market is forecast to generate some 30.6 billion U.S. dollars.”
“In 2025, the market for RFID tags is forecast to be around 41.3 billion U.S. dollars and retail applications are expected to account for the largest share of the market.”
Passive UHF RFID tags are set to help retail, FMCG (fast moving consumer goods), pharmaceutical, education, libraries etc, manage their day to day operations in a more efficient way.
By incorporating passive UHF RFID tags, which are lightweight, small and provide an operational range of up to 15m, businesses can keep track of asset within the premises.
Passive UHF RFID tags don’t need a clear line of sight, unlike barcodes, to be read, which makes them an advanced option in asset identifying and asset tracking.
Using RFID tags for faster checkout at POS and managing shelves has completely changed how Retail businesses conduct their operations.
• Handheld UHF RFID Readers:
Handheld UHF RFID Readers, when incorporated into business operations can be a game changer. Easy to hold, easy to carry and long range readability without a clear line of sight, using radio frequencies are some of the features that make it an ideal choice over barcode scanners which are optical in nature.
Since handheld UHF RFID readers can read hundreds of RFID tags in a second, inventory management, inventory control and taking stock of inventory have become so much easier. Workers can also take count of assets which are piled as high as 15-20feet, without needing to use a ladder.
Retail businesses are the largest beneficiary of RFID Technology as of now.
• Preventing Counterfeiting and theft in Healthcare:
RFID has been at the forefront of checking counterfeiting in vaccines and medical instruments as countries are looking to vaccinate their entire population against COVID19. Vaccine manufacturers, suppliers and hospitals are using RFID technology to prevent piracy, and thefts along with keeping track of vaccine consignments, vaccine life and expiration dates.
Counterfeiting in healthcare instruments can also be prevented using RFID Tags and unique identifier for each instrument which can be verified at the time of delivery.
• Data Privacy and client data security using RFID:
Consumers and Vendors are always worried about their private and professional data being misused. Use of RFID at POS and encryption in RFID subsystem that processes and stores data, can prevent data theft and misuse as barcodes, QR codes, and BLE tags etc. are prone to exploitation due to obvious reasons.
ISO Standard 9798 defines various challenge-response procedures for strong authentication in the case of contact smart cards and RFID systems, including mutual authentication according to the “three-pass mutual authentication protocol”.
Lack of data protection laws and lack of regulations in RFID in various countries results in misuse of client data but businesses can take measures to maintain better consumer/client relationships and benefit greatly.
RFID in logistics and supply chain:
RFID has been proven to be miracle in logistics and supply chain business. Use of barcodes on parcels and large consignments limits how far you can track them but wide range applications of RFID in supply chain has completely removed bottlenecks and filled the operational gaps.
Under supply and oversupply of stocks is now being addressed in time and tracking of consignments has greatly improved.
According to PMR (Persistent Market Research),
“By the end of 2024, it is anticipated that the US$ 477.7 Million chipless RFID market would have grown to US$ 3.06 Billion”.
Chipless RFID is a new trend in Retail Item labeling which is growing fast. Brands like Zara, H&m, amazon are using chipless RFID to tackle supply chain and inventory issues.
- Last updated on Jan 24, 2023