Almost 30 billion RAIN Radio Frequency Identification (RFID) tag integrated circuits (IC) were sold worldwide in 2021 resulting in a 36% increase over 2020 sales according to research by the RAIN Alliance.
The RAIN RFID Market Research Report from VDC Research predicts IC shipments are expected to scale to 88.5 billion by 2028, a CAGR of 25.1%. Supply chain upgrades and use of more sustainable solutions is helping to drive the increases in adoption of RAIN RFID solutions.
“There has been a dramatic shift in the RAIN RFID market over the past 24 months with several blue-chip announcements adding momentum and changing market dynamics creating a premium for the benefits that RAIN RFID provides,” said David Krebs, executive vice president, VDC Research. “Investment in RAIN RFID solutions is still somewhat closely tied to inventory management but it is increasingly trending toward more application opportunities.”
he RAIN RFID Market Research Report is global in scope and was produced in collaboration with VDC Research using information provided by members of the RAIN Alliance.
The report includes a detailed analysis of initial market models segmented by product type including finished tags/transponders, fixed readers, handheld readers and printer/encoders. Multiple industries and applications, trends by industry and application, as well as regional market trends are addressed within the report. Specific information on each of the components of the technology for the period 2020 to 2026 with the CAGR for each are given with unit and revenue.
“Sustainability is a growing RAIN RFID investment driver,” said Aileen Ryan, president and CEO, RAIN Alliance. “Minimizing carbon emissions and eliminating waste are high-priority supply chain initiatives for organizations across most industries. RAIN RFID technology is ideally suited to this and other similar tasks.”
Source: bisinfotech.com