DUBLIN, August 03, 2021--(BUSINESS WIRE)--The "Rain RFID Solutions Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Rain RFID solutions market is projected to grow at a CAGR of 14 % during the forecast period of 2021 to 2029.
RAIN RFID technology refers to the RFID solutions connected to the cloud enabling consumers, businesses and various other stakeholders to effectively identify, authenticate, locate and engage various objects. The RAIN RFID solutions only make use of the ultrahigh frequency (UHF) RFID technology in order to ensure universal identification and usage of the same RFID tags all across the supply chain. The RAIN RFID solution comprises various RFID tags, readers, software and associated services.
The technological development has shown a significant growth in past few years ensuring the ecommerce and growth of business. Rain RFID tags are used majorly for sales, they are attached or embedded to stored items which send information. The rain RFID technology is widely used for apparel tagging in the apparel industry across the globe. Application area of Rain RFIDinclude retail, logistics, asset management, medical, air baggage, cargo, electronic vehicle identification and so on.
The technology ensures the real time locations to manage the supply chain. Various market players ensure growth of software's along by improving accuracy. The software plays a vital role in ensuring the use or application in various industries.The cost of each software use is $150 approximately.Increasing innovations and updation of software development ensurescloud based data.
Lowering cost ensures wide range of applications
In past few years the cost of RFID tags was lowered as a result of increased application across sectors. The key applications of these tags were in apparel and electronic vehicle industry.The cost of tags, installation cost, software cost overall played in vital role in influencing the consumers and enhances the revenues and growth rate. The key players also need to ensure the quality and maintain accuracy although the cost was lowered. The wide range of application includes retail, logistics, asset management and medical. The deployment of RAIN RFID solutions has offered immense benefits for end-use industries including apparel and footwear, retail, medical, logistics, warehouse management, baggage and cargo, vehicle identification and other access control applications, among others. RAIN RFID solutions have made it easier for manufacturers to take effective measures towards higher accountability, anti-counterfeiting and product tracking throughout the product movement from manufacturing to the end-user.
The covid-19 impact on market
The pandemic led disturbance in economy of various sector across various regions. The apparel industry along with automotive sector was lowered during pandemic and resulted in lowering the RFID market. The market is expected to increase in the post pandemic as the sales of various sector boosted over the ecommerce platforms. The pandemic also lowered the revenue, manufacturing and the supply chain of the products. Adaption of ecommerce played vital role in developing the market. The market tends to rise as technology enhances lowering of errors on ecommerce platforms as well as over the counter.
Key questions answered in this report
What are the key market segments in current scenario and in the future by product categories?
What are the key market segments in current scenario and in the future by regions?
What is the key impact of Covid-19 over market revenues and market determinants in the Rain RFID Solutions market?
What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
How to overcome the current market challenges and leverage the opportunities in each of the market segment?
Who are the key players in the Rain RFID Solutions market and what are their key product categories and strategies?
What are the key strategies - mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Evolving RFID Trend and Rise in Discretionary Income
Superiors Advantages of Using Rain RFID Solutions
Increasing use of Customized material as a Promotional Tool
Limitations of Technique over other Methods
Impact Analysis of Drivers and Restraints
ITL Group mpinj Inc
NXP Semiconductors N.V
Walki Group Oy
Hangzhou Century Link Technology Co. Ltd
Convergence Systems Limited (CSL)
Invengo Technology Pte. Ltd
Xerafy (HK) Limited
CAEN RFID S.r.l.
For more information about this report visit https://www.researchandmarkets.com/r/afyvbq
View source version on businesswire.com: https://www.businesswire.com/news/home/20210803005761/en/
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