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

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.

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. CAEN RFID S.R.L; Convergence Systems Limited; Impinj, Inc.; Invengo Technology PTE. LTD.; Jadak; Lowry Solutions Inc.; Murata Manufacturing Co., Ltd.; NXP Semiconductors; SAG; and Walki Group OY are among the key players profiled in the report during this market study.

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.

The hampered automotive sales affected the overall UHF RFID (RAIN) market performance in APAC.

UHF RFID (RAIN) Market Breakdown—by Region, 2019 (%)

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UHF RFID (RAIN) Market to Grow at a CAGR of 13.8% to reach US$ 5,588.33 Million from 2020 to 2027

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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 global 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

UHF RFID (RAIN) Market – by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific (APAC)
  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America (SAM)
  • Brazil
  • Argentina
  • Rest of SAM

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