The RAIN RFID solutions uses ultrahigh frequency (UHF) for ensuring product’s identification and verification. The RAIN RFID solutions uses various tags for tracking and managing of the products, hence it is used across various applications and end-use industries. Due to the onset of COVID-19 pandemic, significant impact have been observed in operations and manufacturing units of various RFID companies, also , , the businesses of their partner companies and distributors are also effected. Moreover, there was decrease in demand for expensive retail and commercial products across the world due to various lockdown events which also impacted the demand and supply of RFID market. Along with this, the supply chain for RFID related companies was disrupted that has slowed the growth for RAIN RFID solution market. In the developing countries, RFID tags are widely used in vehicles for tolling, but due to COVID-19 crisis, its demand is also expected to have a mid-term impact during the forecast period. However, the demand for RAIN RFID solutions market in logistics, healthcare, retail, transportation and supply chain, among others is going to reinstate, as the governments of various countries have started allowing the movement of goods and public. Apart from this, the retail stores and malls are also re-opening which is increasing the demand for the market.
In addition, rising deployment of various RFID solutions and systems in different manufacturing companies is expected to increase the productivity and to automate the manufacturing processes due to COVID-19 pandemic leading to the growth of the sector.. Furthermore, RAIN RFID solutions are widely used in different applications such as apparels and footwear, asset management, retail, air baggage, cargo, logistics, identification of electronic vehicles and medical, among others Among these, medical and apparel applications has been gaining high popularity in the RFID market, as they are deploying various RFID tags on different apparel products and over the counter drugs and prescriptions. Apart from this, the RAIN RFID solutions are widely used in the pharmaceutical companies for tracking various issues such as data theft, counterfeiting and inventory mismanagement. Moreover, the rising adoption of IoT technology with RFID solutions in various industries, is also anticipated to lead higher adoption of RAIN RFID solution market.
Major players in the global RAIN RFID solutions market are Impinj, Inc., 7iD Technologies, NXP Semiconductors N.V., Walki Group Oy, ITL Group, CAEN RFID S.r.l., HID Global, SMARTRAC N.V., Invengo Technology Pte. Ltd., and Xerafy (HK) Limited.
Trends and Future Outlook:
- There has been growing adoption of RAIN RFID solution in different applications such as electronic vehicle identification.
- Rising investment in research & development for designing various innovative applications are using different sensors in RFID networks.
- Rising partnership among various providers of UHF RFID products through the RAIN RFID association.