WAKEFIELD, Mass.--(BUSINESS WIRE)--RAIN Radio Frequency Identification (RFID) tag integrated circuits’ (IC) worldwide sales volume for the second year in a row smashed industry forecasts increasing 36% over the last year helping to nudge lifetime sales past the 100 billion tag IC sold barrier. This is the seventh year in a row of sales growth for RAIN RFID tag IC sales according to the RAIN Alliance, an industry technology group. Read the blog here.
“The RAIN RFID industry is on pace to sell almost as many tag ICs as McDonald’s has hamburgers over the next few years. Over 100 billion tag ICs sold is a major industry milestone and quite an achievement,” said Steve Halliday, president, RAIN Alliance. “The accelerating sales growth is being fueled by the fact that the technology is versatile and readily adaptable to a wide variety of applications in any number of markets.”
The data was collected in the RAIN Alliance’s annual survey of the major RAIN RFID tag ICs manufacturers and statistically represents 100% of the market. The RAIN Alliance has collected this data since 2015.
The global value of the RAIN market including tag ICs, inlays, tags, reader ICs and modules, readers and printer/encoders was $2.2 billion in 2019 and is forecasted to exceed $5.1 billion by 2024 according to the RAIN RFID Market Research Report. RAIN is the brand name for passive Ultra High Frequency (UHF) RFID wireless technology.
About the RAIN RFID Alliance
The RAIN Alliance is the industry organization supporting the universal adoption of RAIN RFID technology, a wireless technology that connects billions of everyday items to the Internet-of-Things, enabling businesses and consumers to identify, locate, authenticate and engage assets.
Membership in the RAIN Alliance is open to all companies that have an interest in RAIN RFID technology. For more information, visit the RAIN Alliance website.