Sales Volume Continues To Beat Analyst Expectations Cites New Report
WAKEFIELD, MA, Nov. 16, 2022 – 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 released today 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.
The RAIN RFID Market Research Report is available to the public. More information can be accessed here.
“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 of VDC Research. “Investment in RAIN RFID solutions is still somewhat closely tied to inventory management but it is increasingly trending toward more application opportunities.”
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.
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 of the 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.”
About the RAIN 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 (IoT), 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.
# # #