UHF RFID (RAIN) Market Growth, Size, Share, Trends, Key Players Analysis, and Forecast till 2031

UHF RFID (RAIN) Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Hardware, Software, and Services) and Application (Retail and Consumer Goods, Logistics and Transportation, Healthcare, Manufacturing, and Other Applications) and Geography

  • Report Code : TIPRE00011333
  • Category : Electronics and Semiconductor
  • No. of Pages : 150
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The UHF RFID (RAIN) market size is projected to reach US$ 8.36 billion by 2031 from US$ 2.92 billion in 2023. The market is expected to register a CAGR of 14 % in 2023–2031. The increasing role of RFID in smart cities is likely to remain a key UHF RFID (RAIN) market trend.

UHF RFID (RAIN) Market Analysis

The rise of the Internet of Things (IoT) is being driven by the acceptance of smart devices and increasing government investments, which are concentrated on R&D and IoT installations in the manufacturing, utilities, retail, and other sectors. It gives different items the capacity to communicate with one another and exchange data. UHF RFID is the best technology to connect the digital and physical worlds, which is necessary for Internet of Things applications. The majority of networked objects will be connected wirelessly thanks to passive UHF RFID technology, which is becoming increasingly popular across national borders. This technology allows passive objects to smoothly send vital data, such as precise location and time, enabling identification of these objects.

UHF RFID (RAIN) Market Overview

UHF RFID systems are radio frequency identification (RFID) systems that use the UHF frequency range for operation. Operating frequencies for the ultrahigh-frequency (UHF) bands span from 300 MHz to 1 GHz. Radiofrequency identification is the source of the word RAIN, a reference to the connection between UHF RFID and the cloud. This technology includes several hardware elements, like readers and tags, built into it. Among other businesses, the retail, healthcare, and manufacturing sectors utilize RFID tags to track all kinds of products and to manage assets and inventory. UHF RFID tags and readers operate between 433 MHz to 860 MHz.

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UHF RFID (RAIN) Market: Strategic Insights

UHF RFID (RAIN) Market

  • CAGR (2023 - 2031)
    14 %
  • Market Size 2023
    US$ 2.92 billion
  • Market Size 2031
    US$ 8.36 billion

Market Dynamics

GROWTH DRIVERS
  • The increase in demand for RFID in Electronic Toll Collection
FUTURE TRENDS
  • Increasing Role of RFID in Smart Cities
OPPORTUNITIES
  • The reduction in tag costs

Key Players

  • CAEN RFD Srl
  • Convergence Systems Limited
  • Impinj, Inc
  • Invengo Technology Pte. Ltd.
  • Jadak- A Novanta Company
  • Lowry Solutions Inc.
  • Murata Manufacturing Co., Ltd.
  • NXP Semiconductors N.V.
  • Securitag Assembly Group LTD (SAG)
  • Walki Group Oy

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Component
  • Hardware
  • Software
  • Services
Application
  • Retail and Consumer Goods
  • Logistics and Transportation
  • Healthcare
  • Manufacturing
  • Other Applications
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

UHF RFID (RAIN) Market Drivers and Opportunities

The increase in demand for RFID in Electronic Toll Collection

RFID technology allows for accurate vehicle identification, which in turn allows for toll fees to be subtracted. The architecture of the REID system is carefully designed to enable automatic vehicle identification and a smooth toll deduction process, doing away with the need for human intervention. The field of electronic toll collecting (ETC) has seen a revolution because of REID technology, which has sped up, improved efficiency, and made it more comfortable for commuters as well as toll operators to pay tolls on roads, bridges, and tunnels. Vehicles using ETC systems are outfitted with REID tags, sometimes referred to as transponders, which hold distinct identity data connected to the account of the vehicle's owner. RFID tags are activated by radio-frequency signals that REID readers generate as cars get closer to toll booths, gantries, or designated entry/exit lanes. Thus, with the increase in demand for RFID in electronic toll collection, the market is growing.

The reduction in tag costs

The Internet of Things (IoT) is predicted to be a major factor in the industry's present rapid technological development. Many academics are concentrating on IoT technology to pinpoint issues and challenges relating to architecture and design. The majority of IoT solution providers have been building all stack components, from hardware devices to cloud services, as a result of the market's explosive growth. Throughout the forecast period, a high rate of IoT technology use is expected to support the growth of the UHF RFID (RAIN) market. Thus, the increasing adoption of IoT is anticipated to present new opportunities for the UHF RFID (RAIN) market players during the forecast period.

UHF RFID (RAIN) Market Report Segmentation Analysis

Key segments that contributed to the derivation of the UHF RFID (RAIN) market analysis are components and applications.

  • Based on the components, the UHF RFID (RAIN) market is segmented into hardware, software, and services. The hardware segment held a larger market share in 2023.
  • By application, the market is segmented into retail and consumer goods, logistics and transportation, healthcare, manufacturing, and other applications.

UHF RFID (RAIN) Market Share Analysis by Geography

The geographic scope of the UHF RFID (RAIN) market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. Due to a boom in the retail industry, the UHF RFID (RAIN) market in North America is anticipated to expand rapidly. The technology is widely used for clothing tagging, and the market has grown quickly in recent years. Passive UHF RFID tags that operate in the 860–960 MHZ frequency band are typically used by the retail industry; the precise frequencies at which the tags work vary depending on the nation.

UHF RFID (RAIN) Market Report Scope

Report Attribute Details
Market size in 2023 US$ 2.92 billion
Market Size by 2031 US$ 8.36 billion
Global CAGR (2023 - 2031) 14 %
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Component
  • Hardware
  • Software
  • Services
By Application
  • Retail and Consumer Goods
  • Logistics and Transportation
  • Healthcare
  • Manufacturing
  • Other Applications
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • CAEN RFD Srl
  • Convergence Systems Limited
  • Impinj, Inc
  • Invengo Technology Pte. Ltd.
  • Jadak- A Novanta Company
  • Lowry Solutions Inc.
  • Murata Manufacturing Co., Ltd.
  • NXP Semiconductors N.V.
  • Securitag Assembly Group LTD (SAG)
  • Walki Group Oy
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    UHF RFID (RAIN) Market News and Recent Developments

    The UHF RFID (RAIN) market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for speech and language disorders and strategies:

    • In November 2023, RAIN Alliance, the non-profit industry organization supporting the development and adoption of Ultra High Frequency (UHF) Radio Frequency Identification (RFID), announced the launch of its RAIN RFID Tyre Technology Masterclass World Tour. These quarterly masterclass events will offer a unique perspective into the future of the global intelligent tire industry while exploring how RAIN RFID helps solve the issue of tracking the full product lifecycle of a tire from the cradle to the grave. (Source: RAIN Alliance, Press Release)
    • In October 2023, HID Launched New LinTRAK RAIN RFID UHF Tags on the Market. (Source: HID, Press Release)

    UHF RFID (RAIN) Market Report Coverage and Deliverables

    The “UHF RFID (RAIN) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Market dynamics such as drivers, restraints, and key opportunities
    • Key future trends
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Component and Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the estimated market size for the global UHF RFID (RAIN) market in 2023?

    The global UHF RFID (RAIN) market was estimated to be US$ 2.92 billion in 2023 and is expected to grow at a CAGR of 14 % during the forecast period 2023 - 2031.

    What are the driving factors impacting the global UHF RFID (RAIN) market?

    The increase in demand for RFID in Electronic Toll Collection and the reduction in tag costs are the major factors that propel the global UHF RFID (RAIN) market.

    What are the future trends of the global UHF RFID (RAIN) market?

    The increasing role of RFID in smart cities is anticipated to play a significant role in the global UHF RFID (RAIN) market in the coming years.

    Which are the key players holding the major market share of the global UHF RFID (RAIN) market?

    The key players holding majority shares in the global UHF RFID (RAIN) market are CAEN RFD Srl, Convergence Systems Limited, Impinj Inc., Invengo Technology Pte. Ltd., and Jadak- A Novanta Company.

    What will be the market size of the global UHF RFID (RAIN) market by 2031?

    The global UHF RFID (RAIN) market is expected to reach US$ 8.36 billion by 2031.

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

    A typical research interview fulfils the following functions:

    • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
    • Validates and strengthens in-house secondary research findings
    • Develops the analysis team’s expertise and market understanding

    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

    • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
    • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

    We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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