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According to our latest market study on “UHF RFID (RAIN) Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Component (Hardware, Software, and Services) and Application (Retail and Consumer Goods, Logistics and Transportation, Healthcare, Manufacturing, and Other Applications),” the market was valued at US$ 2,011.70 million in 2019 and is projected to reach US$ 5,588.33 million by 2027; it is expected to grow at a CAGR of 13.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.
Growing complexities in supply chains—due to outsourcing, internationalization, and e-retailing—are leading to mitigation of control over various activities, which has led to vulnerabilities in these supply chains. Counterfeiting is a widespread issue that impacts various businesses. At present, the issue is limited to luxury products and goods such as beauty products and apparel. For instance, in March 2020, in Malaysia, ~600 cases of online sales of counterfeit surgical masks were reported. Further, Louis Vuitton, the French handbag designer company, has been a favorite target of counterfeiters. After discovering the sale of counterfeit products by retailers in Beijing, New York, and Australia, the company informed various landlords about the infringing activities of their respective leasehold tenants and asked them to take steps to avoid sales of infringing products on their properties. Moreover, sports giants such as Reebok and Adidas are taking on the ever-growing number of counterfeits. They filed the trademark suit in federal court against ~50 online sellers for selling, promoting, and counterfeit products. Thus, Reebok and Adidas are seeking US$ 2 million from each of the defendants for every counterfeit trademark used. The cases of counterfeits are gradually decreasing with the introduction of UHF RFID technology, as it makes copying or faking the trademark difficult and delivers a multi-layered defense against attacks on supply chain. With this technology, one can identify an individual item, determine its location, and review its chain of custody. Gathering this data makes it easier to handle the supply chain and identify counterfeits. 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 are among the key players profiled in the report during this market study.
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Radio frequency identification (RFID) systems that operate in the UHF frequency spectrum are termed UHF RFID systems. The term RAIN originates from RAdio frequency IdentificatioN, which acts as a nod to the link between UHF RFID and the cloud. Several hardware components such as tags and readers are integrated within this technology. The RFID tags are used to track all types of objects in the retail, healthcare, and manufacturing industries, among others, and it also allows them to manage assets and inventory. The UHF RFID tags/readers functions at 433 MHz and 860–960 MHz. The tags operate with the help of the far-field radiative coupling principle or backscatter coupling principle. It has a larger read range than low-frequency (LF) and high-frequency (HF) tags. The UHF RFID tags consist of antenna and integrated circuits (ICs); the antenna is used to receive RF waves, and the IC includes processing information, four memory banks, send and receive information, and anti-collision protocols.
Impact of COVID–19 Pandemic on APAC UHF RFID (RAIN) Market
The shutdown of various factories in China is affecting the global supply chains as well as disturbing manufacturing activities, delivery schedules, and product and service sales. Although the factories in the country are reopening gradually, several logistics businesses have discontinued their operations; thus, a few of the cargo terminals have been shut down as an effect of the pandemic. The pandemic laso has adversely affected the automotive sector is China. The country is the world’s largest car market, and Wuhan is home to automobile plants of Honda, General Motors, Nissan, and Renault, among others. As per the World Economic Forum (WEF), Honda Company has ~50% of its total production capacity in China in Wuhan. In 2019, Hubei Province was the fourth-largest car manufacturer in China, with ~10% of the country’s car-making capacity, and 2.24 million vehicles were manufactured at plants located in this province. However, several automotive companies had to discontinue their operations amid the nationwide lockdown, which resulted in a decline in the sales of cars and their spare parts.
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Growing Adoption of RFID Technologies in Retail Sector Fueling Market Growth
Continuous developments in inventory tracking technologies are driving the growth of the retail sector at an unprecedented rate. The sector boosts the reach of numerous businesses to customers, thereby providing them necessary exposure. The growing emphasis on online marketing tools, such as Facebook and Google ads, has been contributing to the boom in the retail sector. It is one of the mature industries in the US, where consumers are highly inclined toward online shopping. As per the facts stated by the Census Bureau of the Department of Commerce, the retail e-commerce sales in the US were US$ 160.3 billion in the first quarter of 2020, with an increase of 2.4% from the fourth quarter of 2019.
In the retail sector, the Radio Frequency Identification (RFID) is hugely adopted for apparel tagging. The apparel vendors are progressively leveraging digitalization and Big Data analytics with the help of RFID applications. RFID is a mature technology that uses radio waves to transmit data from RFID tags to a reader, which helps identify objects based on the caught data or track the location of the same. Several retail sector giants, such as H&M, Lululemon, Zara, and Nike, use UHF RFID technology for inventory management, which helps them generate a more effective supply chain, combat counterfeit items, and prevent out-of-stock situations. Lululemon, a sports retail giant, surged its e-commerce sales by implementing RFID to track product movement in its stores. The company uses the 1128 Bluetooth UHF RFID Reader, offered by Technology Solutions (UK) Ltd., to streamline goods receipt and weekly inventory tracking. Thus, the above-mentioned factors are influencing the market growth.
The List of Companies – UHF RFID (RAIN) Market
CAEN RFID S.r.l, Convergence Systems Limited, Impinj, Inc., Invengo Technology Pte. Ltd., Jadak- A Novanta Company, Lowry Solutions Inc., Murata Manufacturing Co., Ltd., NXP Semiconductors N.V., Securitag Assembly Group Co., LTD (SAG) and Walki Group Oy
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In 2020, Impinj, Inc. announced Impinj R700 reader, a RAIN RFID reader for the next-gen IoT solutions. The product offers high performance with the fastest network connectivity and robust edge processing for next-gen IoT solutions.
In 2018, JADAK announced a launch of ThingMagic IZAR, a four-port RAIN UHF RFID finished reader. It is a programmable, compact, network-attached reader featuring write and read capability. It is built for customers from the retail, medical, and transportation sectors, aiming to execute an RFID system while minimizing engineering costs.
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