RAIN RFID technology refers to the RFID solutions connected to the cloud enabling consumers, businesses and various other stakeholders to effectively identify, authenticate, locate and engage various objects. The RAIN RFID solutions only make use of the ultrahigh frequency (UHF) RFID technology in order to ensure universal identification and usage of the same RFID tags all across the supply chain. The RAIN RFID solution comprises various RFID tags, readers, software and associated services.
The global Rain RFID solutions market is projected to grow at a CAGR of 14 % during the forecast period of 2021 to 2029. The technological development has shown a significant growth in past few years ensuring the ecommerce and growth of business. Rain RFID tags are used majorly for sales, they are attached or embedded to stored items which send information. The rain RFID technology is widely used for apparel tagging in the apparel industry across the globe. Application area of Rain RFIDinclude retail, logistics, asset management, medical, air baggage, cargo, electronic vehicle identification and so on.
The technology ensures the real time locations to manage the supply chain. Various market players ensure growth of software’s along by improving accuracy. The software plays a vital role in ensuring the use or application in various industries.The cost of each software use is $150 approximately.Increasing innovations and updation of software development ensurescloud based data.
Lowering cost ensures wide range of applications
In past few years the cost of RFID tags was lowered as a result of increased application across sectors. The key applications of these tags were in apparel and electronic vehicle industry.The cost of tags, installation cost, software cost overall played in vital role in influencing the consumers and enhances the revenues and growth rate. The key players also need to ensure the quality and maintain accuracy although the cost was lowered. The wide range of application includes retail, logistics, asset management and medical. The deployment of RAIN RFID solutions has offered immense benefits for end-use industries including apparel and footwear, retail, medical, logistics, warehouse management, baggage and cargo, vehicle identification and other access control applications, among others. RAIN RFID solutions have made it easier for manufacturers to take effective measures towards higher accountability, anti-counterfeiting and product tracking throughout the product movement from manufacturing to the end-user.
The covid-19 impact on market
The pandemic led disturbance in economy of various sector across various regions. The apparel industry along with automotive sector was lowered during pandemic and resulted in lowering the RFID market. The market is expected to increase in the post pandemic as the sales of various sector boosted over the ecommerce platforms. The pandemic also lowered the revenue, manufacturing and the supply chain of the products. Adaption of ecommerce played vital role in developing the market. The market tends to rise as technology enhances lowering of errors on ecommerce platforms as well as over the counter.
Key players
Key players in this industry include mpinj, Inc, NXP Semiconductors N.V, Walki Group Oy, SMARTRAC N.V, ITL Group, Hangzhou Century Link Technology Co., Ltd, Convergence Systems Limited (CSL), Invengo Technology Pte. Ltd, Xerafy (HK) Limited, CAEN RFID S.r.l. The key strategy includes creating quality products, easily accessible by everyone and ensuring the improvement of portfolio by investing in trends, technology and innovation.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Rain RFID Solutions market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
