RAIN RFID TAG IC shipments soar to 44.8bn in 2023
Each year, the RAIN Alliance releases the findings of its annual research project, which collates data from top manufacturers to demonstrate the adoption and growth rate of worldwide RAIN RFID TAG IC shipments.
What is a RAIN RFID TAG IC?
The RAIN TAG IC – or integrated circuit – is another way of saying the tag chip which holds the identifying data for the item to which the tag is attached. This, along with an antenna mounted on a substrate form the critical components of a RAIN RFID tag. As a result, the annual shipment data of RAIN TAG ICs are a direct indicator of the growth of the tag market more broadly.
What were the report findings?
More than 44.8 billion RAIN RFID TAG ICs were shipped in 2023, an increase of 32% from the previous year. The 2023 report consists of data received from four RAIN Alliance members and tag manufacturing leaders Impinj, EM Microelectronic, NXP, and Quanray.
This reported growth has now significantly exceeded the numbers forecasted by the RAIN RFID Market Research report from VDC, commissioned by the RAIN Alliance, which predicted sales of 38.0b for 2023, and 88.5b by 2026.
Why have shipments increased?
The increase in shipments of RAIN RFID TAG ICs can be attributed to increasing demand for solutions which improve transparency, efficiency, traceability, and sustainability. RAIN RFID technology connects billions of everyday items to the internet, enabling different industries to identify, locate, authenticate, and engage with items – be that a t-shirt, suitcase, tire or medical instrument.
Use cases include tracking airplane safety equipment, improving retail inventory visibility and accuracy, optimizing warehouse operations and tracking a tire’s lifecycle. With enhanced visibility and real-time data from RAIN RFID technology, organizations can make smarter decisions. This drives operational efficiencies that helps the bottom line, as well as enables businesses to meet their sustainability goals.
Please note: All data collected for this project is proprietary and presented in aggregate, not individual company sales. The objective of collecting, analyzing, and promoting this data is to provide the marketplace and RAIN Alliance members with a key indicator of market performance and adoption.