The UHF RFID inlays are widely used by passive RFID tags for ensuring product’s identification and verification. It is also used for tracking and managing the products, hence it has extensive application in retail, logistics, transportation and industrial sector. Due to the onset of COVID-19 pandemic, the manufacturing units of various RFID companies have effected, apart from this, the businesses of their partner companies and distributors are also impacted. Moreover, the sale of expensive retail and commercial products decreased across the world during the pandemic event, which also impacted the RFID market. Along with this, the supply chain and transportation channels for RFID related companies were disrupted or closed, leading in the reduction of growth for UHF RFID inlays market. Further, in the developing countries, RFID tags are used on vehicles for tolling, hence, the demand for automotive RFID decreased due to pandemic but will increase again after the pandemic completely vanishes and people start moving like before which has already started in many countries.
In addition, growing advancement in RFID systems in different manufacturing companies which helps in increasing the productivity of various industries and to automate the manufacturing processes to curb the spread of the coronavirus disease, leads to the growth of the UHF RFID inlays market. Furthermore, UHF RFID inlays are widely used in different applications such as Retail, Healthcare, Government, Industrial, Financial Services, and Transports & Logistics, etc. . Whereas, retails industry is gaining high popularity in the UHF RFID inlays market, as retail sector require small size tags on different items and products. Apart from this, the UHF RFID inlays are also used in the logistics and transportation sector for object tracking and identification which helps in inventory management solutions. Moreover, the rising adoption of IoT technology with RFID solutions for various industries, leads to the enhancement of UHF RFID inlays market.
Key players of the market are focusing to develop advance passive RFID tags which can detect an object from long distance and have higher radio frequency range. Major players of the UHF RFID inlays market are Shang Yang RFID Technology Yangzhou Co., Ltd., Xindeco IOT Technology Co. Ltd., Invengo Technology Pte. Ltd., Avery Dennison Corporation, Shanghai Inlays Link Inc., NXP Semiconductor Austria Styria, Alien Technology, LLC, Zhejiang Junmp Technology Inc. Ltd., Identive Group, Inc. and NETHOM CO., LTD., etc.
Trends and Future Outlook:
- Increasing investment for developing advanced UHF RFID inlays which can be used in different retailing applications such as online retailing.
- Due to COVID-19 pandemic, there is rise in installation of different RFID systems in manufacturing units for improving productivity.