RFID chips or tags are small devices, also known as smart chip or smart tag. They are made of simple silicon microchip which is attached to a tiny aerial mounted on a substrate. Since a certain amount of data or information is contained within RFID chips, the chips can be said very similar to barcodes. They can be scanned through wallets, cards, clothes, and even cars. Depending upon the usage RFID tags or chips are used in many areas and on many levels. One such use in today’s advanced technological world is RFID chips in credit cards. With the advancement of technology the level of hacking or card phishing has also increased, which in turn lead to evolution in credit cards.
It can be said that the RFID market is not fully evolved and is just at its start. In fact, the way that RFID technology is used widely and integrated into mobile phones, credit cards, etc. RFID chips in credit cards are likely to evolve. The first versions were just standalone RFID chips, however with today’s technology more companies are opting for RFID chips in credit cards. As of now there are not that many suppliers of RFID chips in credit cards; however companies like , Inside Secure, ST Microelectronics are some examples of current companies that are supplying, using and promoting RFID chips. All the aforementioned companies are manufacturers of microcontrollers, and processors to sensors, etc. and have experience in technological field. They have been manufacturing such products since a long period and are highly experienced.
According to how this RFID chips in credit cards evolves you can see many other functions of RFID chips being combined with several other functions on the same chip or tag to allow further development. However, depending on the success and evolution of such RFID chips or tags usage there may be more suppliers emerging in the future. This may also lead to new market leaders, as it is not necessary that the present suppliers will remain on top in the future as well. Totally depending on the evolving market certain suppliers could be winners and others maybe losers, meaning the rise or fall of various manufacturers.
