Sales Volume Outstrips Industry Forecast In Pandemic Year
WAKEFIELD, Mass. – March 9, 2021 — Over 21 billion RAIN Radio Frequency Identification (RFID) tag integrated circuits (IC) were sold worldwide in 2020 resulting in a 15% increase over 2019 sales and outstripping industry forecasts according to research released today by the RAIN Alliance. The data is an aggregate of the 2020 sales numbers collected from the major RAIN tag ICs manufacturers. RAIN is a brand name for passive Ultra High Frequency (UHF) RFID wireless technology.
Since 2015, RAIN tag IC sales volume have surpassed 84 billion integrated circuits or “chips” that are critical to helping drive the surge in Internet-of-Things (IOT) devices. The global value of the RAIN market including tag ICs, inlays, tags, reader ICs and modules, readers and printer/encoders was $2.2 billion in 2019 and is forecasted to exceed $5.1 billion by 2024 according to the RAIN RFID Market Research Report.
“With the pandemic and the resulting global economic malaise, the strong growth of RAIN RFID sales in 2020 bodes well for the future of the industry,” said Steve Halliday, president, RAIN Alliance. “I think this growth can be attributed to the wide-range and diversity of industries and applications using RAIN RFID. The technology’s flexibility and functionality have ensured the industry of weathering the recent economic storm resulting in a market that is tuned for further growth in 2021.”
RAIN Alliance is the global industry non-profit organization charged with accelerating UHF RFID growth and adoption in business and consumer applications. RAIN RFID technology provides the identification, location and authentication of the physical item that an RFID tag is attached to. It can also be used to connect to sensors and actuators.
“The recently completed RAIN RFID Market Research Report is bullish on the market and the technology,” said David Krebs, executive vice president, VDC Research. “RAIN RFID technology is ubiquitous across many, if not most, industries. It is used extensively in health care, IoT, retail, aviation and manufacturing applications.”
About The RAIN RFID Market
The 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. It is available at https://rainrfid.org/rain-rfid-market-research-report/
Inside the report there is 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 over the time period 2019 to 2024 with the CAGR for each are given with unit and revenue.
About the RAIN RFID Alliance
The RAIN Alliance is the industry organization supporting the universal adoption of RAIN UHF RFID technology, a wireless technology that connects billions of everyday items to the Internet-of-Things, enabling businesses and consumers to identify, locate, authenticate and engage assets.
Membership in the RAIN Alliance is open to all companies that have an interest in RAIN RFID technology. For more information, visit the RAIN Alliance website