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. Technological development has shown significant growth in the past few years ensuring the e-commerce and growth of the business. Rain RFID tags are used majorly for sales, they are attached or embedded to store items that send information. The rain RFID technology is widely used for apparel tagging in the apparel industry across the globe. Application areas of Rain RFID includes 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 the 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 ensure cloud-based data.
Lowering cost ensures wide range of applications
In the 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 the apparel and electronic vehicle industry. The cost of tags, installation cost, software cost overall played in a 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 applications 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 to disturbance in the economy of the various sectors across various regions. The apparel industry along with the 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 sectors boosted over the e-commerce platforms. The pandemic also lowered the revenue, manufacturing and supply chain of the products. The adaption of e-commerce played a vital role in developing the market. The market tends to rise as technology enhances the lowering of errors on e-commerce 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 the portfolio by investing in trends, technology and innovation.
