The use of the chip is unlikely to make much difference to the low life that are intent on stealing caravans. It is not a visible deterrent, and it its doesn’t flag up that a caravan has been stolen, any more than the etched windows.
Its potential advantage is that it may be a little harder for the thieves to change the identity of a caravan because we are told the chips will secreted around the caravan. However I am certain it will soon become quite common knowledge where they tend to be fitted, and the serious criminals will develop methods to detect, remove or disable them.
Just as Raywood has pointed out, The chip will only be of any use if a caravan is already suspected of having been stolen, and the authorities investigating have the necessary gear to detect and read the chip and actually choose to look for the chips. It’s essentially a secondary identification process.
Morally of course, a caravan should be returned to its rightful owner, but in practice what you actually get back may not be in a condition you would consider fit for use. If these chips make this more likely then it’s debatable if they are desirable thing or not.
There will of course be an on cost to caravans to have them fitted, It is unlikely to reduce insurance premiums, and it’s unlikely to reduce insurance claims, as the cost of refurbishing a damaged stolen caravan is quite possibly as much as writing it off. And they're highly unlikely to raise the priority of caravan theft with the police.
Given the real life practicalities It’s almost like a solution that looking for a problem.