UHF RFID (RAIN) Market Report: Size, Share and Outlook by 2031

The UHF RFID (RAIN) market was valued at approximately US$ 2,011.70 million in 2019 and is anticipated to grow to US$ 5,588.33 million by 2027, reflecting a compound annual growth rate (CAGR) of 13.8% from 2020 to 2027.

As technology continues to advance, businesses are increasingly seeking solutions that enhance productivity, improve operational efficiency, and elevate customer experiences while simultaneously lowering costs. This trend has led to a significant rise in demand for sophisticated application monitoring solutions, particularly UHF RFID technologies, across various sectors including retail, logistics, healthcare, and manufacturing. Additionally, the rapid development of the Internet of Things (IoT) presents substantial growth opportunities for players in the UHF RFID (RAIN) market. The proliferation of smart devices and increased government funding?especially in nations like Japan, Singapore, China, and Australia?aimed at research and development as well as the implementation of IoT in manufacturing, utilities, and retail sectors, is propelling the expansion of IoT. This technology enables various objects to connect and exchange data seamlessly.

IoT applications require a robust data connection between the physical and digital realms, and UHF RFID serves as an optimal technology to facilitate this integration. With the surge in IoT adoption across numerous countries, a significant number of networked devices are expected to connect wirelessly through passive UHF RFID technology. This technology allows passive items to transmit essential data, enabling precise identification of these objects along with their location and time details. By adding intelligence to the IoT framework, UHF RFID simplifies the development of new applications for interconnected resources.

According to the latest report from the World Health Organization (WHO) regarding the COVID-19 pandemic, countries such as the US, India, Brazil, Russia, UK, France, Spain, and Italy have been severely impacted. As of January 2021, there were 97,464,094 confirmed COVID-19 cases worldwide, resulting in 410,667 deaths, with numbers continuing to rise at varying rates across different nations. The pandemic has had a detrimental effect on the global economy throughout 2020, and its repercussions are expected to persist into 2021. The crisis has disrupted the operations of UHF RFID (RAIN) businesses and suppliers globally, with effects likely to continue until mid-2021. Factory closures, travel restrictions, trade limitations, and border lockdowns have all contributed to hindering the growth of the UHF RFID (RAIN) sector.

The UHF RFID (RAIN) market is categorized based on components, applications, and geographical regions. In terms of components, the market is divided into hardware, software, and services, with the hardware segment dominating the market share in 2019. When considering applications, the UHF RFID (RAIN) market is segmented into retail and consumer goods, logistics and transportation, healthcare, manufacturing, and other applications, with retail and consumer goods holding the largest market share in 2019. Geographically, the UHF RFID (RAIN) market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). In 2019, North America accounted for the largest market share, followed by Europe and APAC. Furthermore, the APAC region is projected to experience the highest CAGR during the period from 2020 to 2027.

The overall size of the UHF RFID (RAIN) market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. This approach also aimed to provide an overview and forecast for the UHF RFID (RAIN) market across all segments. Additionally, numerous primary interviews were conducted with industry participants to validate the data and gain deeper analytical insights. Participants included industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the UHF RFID (RAIN) market. Key players profiled in this market study include Caen RFID S.R.L, Convergence Systems Limited, Impinj, Inc., Invengo Technology PTE. LTD., Jadak, Lowry Solutions Inc., Murata Manufacturing Co., Ltd., NXP Semiconductors, SAG, and Walki Group OY.