RAIN RFID Solutions Market:
Speaking about RAIN RFID, it is an advanced wireless technology which can easily connect thousands and billions of items to the internet. It lets the consumers and businesses to locate, identify, engage, and authenticate every item. Talking about it, RAIN RFID Solutions is referred to as the advanced solution connected to the cloud platforms enabling businesses, people, and other users to identify, locate, and engage different objects. As per the latest market analysis report, the global market for such solutions will grow at a decent CAGR.
In this report, it is projected that during the forecast period, the worldwide RAIN RFID Solutions market will grow at around 9 percent of the Compound Annual Growth Rate. One of the significant factors that are driving the market is the rising number of software solution providers who are now exploring the global RFID market. The introduction of cloud-based SCM- Supply Chain Management systems has offered a massive scope to different software solution firms to provide better services, which include data analytics, package tracking, and inventory management.
Such technology helps in boosting the supply chain by effectively eliminating the possible loss. It has been observed that critical vendors are now increasing their presence in the RAIN RFID market. The latest product and technical development in this segment have empowered the companies to offer better services to their consumers. This will have a positive impact on the global market. However, the cost of the solution and the complexity of different applications may hamper the growth of this market during the projected period.
Market key players covered in this study
- Impinj, Inc.
- NXP Semiconductors N.V.
- Walki Group Oy
- SMARTRAC N.V.
- ITL Group
- 7iD Technologies
- HID Global
- Hangzhou Century Link Technology Co., Ltd.
- Convergence Systems Limited (CSL)
- Invengo Technology Pte. Ltd.
- Xerafy (HK) Limited
- CAEN RFID S.r.l.
Market Segmentation Overview
The global market for RAIN RFID Solutions is segmented on the basis of product type, application, and region. On the basis of product type, it is split into readers, services, software, tags, and others. Among these, the tag product type segment is expected to witness maximum market share in terms of revenue and market growth. The tags can be used in different types of products and are quite durable. Besides, these are very cost-effective. Now, coming to the application-based segment, this segment covers logistics, apparel & footwear, retail, medical, assets management, air baggage & cargo, and electronic vehicle identifications. The experts have predicted that the logistic and asset management market segment is expected to dominate the market.
Regional Market Segmentation Overview
The global RAIN RFID Solutions, based on the region, is segmented into five major regions. These are Eastern Europe, Western Europe, Middle East & Africa, Asia Pacific, Latin America, and North America. Apart from this, market experts have also segmented the global market in different countries. With this, they have analyzed various-country level markets for an accurate market prediction. So, this is divided into Russia, the United States, Mexico, China, India, Italy, Canada, the United Kingdom, Germany, Southeast Asia, Brazil, Southeast Asia, Egypt, France, South and North Africa, and others. Among these, North America’s regional market is projected to dominate the global market in the coming years as it houses some prominent market players who are now launching advanced RFID tags.
In November 2019, Walki Group informed that it successfully acquired a 100 percent share of a Belgian-based extrusion company called Mondi Belcoat NV. With this business acquisition, Walki Group will be able to expand its customer’s base, value-added services and manufacturing capacity in the Central Europe area. It may be noted that Belcoat manufacturers advanced extrusion coated goods.
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