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.
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 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.
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 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.
Key segments that contributed to the derivation of the UHF RFID (RAIN) market analysis are components and applications.
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.
The regional trends and factors influencing the UHF RFID (RAIN) Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses UHF RFID (RAIN) Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| 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
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The UHF RFID (RAIN) Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the UHF RFID (RAIN) Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
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:
The “UHF RFID (RAIN) Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
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.
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.
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.
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.
The global UHF RFID (RAIN) market is expected to reach US$ 8.36 billion by 2031.