UHF RFID (RAIN) Market is expected to reach US$ 5,588.33 Mn by 2027 | The Insight Partners

Increase in Counterfeiting Activities Fuel UHF RFID (RAIN) Market Growth

According to our latest market study on "UHF RFID (RAIN) Market Forecast to 2027 - COVID-19 Impact and Global Analysis - by Component (Hardware, Software, and Services) and Application (Retail and Consumer Goods, Logistics and Transportation, Healthcare, Manufacturing, and Other Applications)," the market was valued at US$ 2,011.70 million in 2019 and is projected to reach US$ 5,588.33 million by 2027; it is expected to grow at a CAGR of 13.8% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players with their developments in the market.

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Growing complexities in supply chains-due to outsourcing, internationalization, and e-retailing-are leading to mitigation of control over various activities, which has led to vulnerabilities in these supply chains. Counterfeiting is a widespread issue that impacts various businesses. At present, the issue is limited to luxury products and goods such as beauty products and apparel. For instance, in March 2020, in Malaysia, ~600 cases of online sales of counterfeit surgical masks were reported. Further, Louis Vuitton, the French handbag designer company, has been a favorite target of counterfeiters. After discovering the sale of counterfeit products by retailers in Beijing, New York, and Australia, the company informed various landlords about the infringing activities of their respective leasehold tenants and asked them to take steps to avoid sales of infringing products on their properties. Moreover, sports giants such as Reebok and Adidas are taking on the ever-growing number of counterfeits. They filed the trademark suit in federal court against ~50 online sellers for selling, promoting, and counterfeit products. Thus, Reebok and Adidas are seeking US$ 2 million from each of the defendants for every counterfeit trademark used. The cases of counterfeits are gradually decreasing with the introduction of UHF RFID technology, as it makes copying or faking the trademark difficult and delivers a multi-layered defense against attacks on supply chain. With this technology, one can identify an individual item, determine its location, and review its chain of custody. Gathering this data makes it easier to handle the supply chain and identify counterfeits.

UHF RFID (RAIN) Market-Company Profiles:
CAEN RFID S.r.l.
Convergence Systems Limited
Impinj, Inc.
Invengo Technology PTE. LTD.
Jadak - A Novanta Company
Lowry Solutions Inc.
Murata Manufacturing Co., Ltd.
NXP Semiconductors
Securitag Assembly Group Co., LTD (SAG)
Walki Group OY

The UHF RFID (RAIN) market has been segmented as follows:

UHF RFID (RAIN) Market- by Component:
Hardware
Software
Services

UHF RFID (RAIN) Market - by Application:
Retail and Consumer Goods
Logistics and Transportation
Healthcare
Manufacturing
Other Applications

Impact of COVID-19 Pandemic on APAC UHF RFID (RAIN) Market:

The shutdown of various factories in China is affecting the global supply chains as well as disturbing manufacturing activities, delivery schedules, and product and service sales. Although the factories in the country are reopening gradually, several logistics businesses have discontinued their operations; thus, a few of the cargo terminals have been shut down as an effect of the pandemic. The pandemic laso has adversely affected the automotive sector is China. The country is the world's largest car market, and Wuhan is home to automobile plants of Honda, General Motors, Nissan, and Renault, among others. As per the World Economic Forum (WEF), Honda Company has ~50% of its total production capacity in China in Wuhan. In 2019, Hubei Province was the fourth-largest car manufacturer in China, with ~10% of the country's car-making capacity, and 2.24 million vehicles were manufactured at plants located in this province. However, several automotive companies had to discontinue their operations amid the nationwide lockdown, which resulted in a decline in the sales of cars and their spare parts.

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Players operating in the UHF RFID (RAIN) market are mainly focused on the development of advanced and efficient products:

In 2020, Impinj, Inc. announced Impinj R700 reader, a RAIN RFID reader for the next-gen IoT solutions. The product offers high performance with the fastest network connectivity and robust edge processing for next-gen IoT solutions.

In 2018, JADAK announced a launch of ThingMagic IZAR, a four-port RAIN UHF RFID finished reader. It is a programmable, compact, network-attached reader featuring write and read capability. It is built for customers from the retail, medical, and transportation sectors, aiming to execute an RFID system while minimizing engineering costs.

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This release was published on openPR.