Asia-Pacific UHF RFID Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Component and Application

The UHF RFID (RAIN) market in APAC is expected to grow from US$ 423.37 million in 2019 to US$ 1,178.78 million by 2027; it is estimated to grow at a CAGR of 13.8% from 2020 to 2027. The demand for commercial vehicles and passenger cars, primarily in developing nations, is surging exponentially. For instance, as per International Tin Association, in 2014, China reported 24 million vehicles, and it would increase to 364 and 607 million by 2030 and 2050, respectively. The growing production of commercial and passenger vehicles generates huge demand for the UHF RFID technology as it is used at every level of the automotive manufacturing industry to identify the parts through manufacturing and to track products via the supply chain. The automotive sector is continuously looking to automate and enhance its manufacturing and logistics operations. This compels them to collaborate with suppliers and service providers. The UHF RFID technology enables automakers and component suppliers to increase their automotive production efficiency by providing them with the necessary control of manufacturing processes and allowing them to take anti-counterfeiting measures. The technology can also help track new vehicles in the finishing and shipping processes. Thus, the growing vehicle production, especially in APAC, is propelling the demand for UHF RFID technologies. Additionally, new opportunities being created due to developments in IoT is a major factor driving the growth of the APAC UHF RFID (RAIN) market.



Based on component, the APAC UHF RFID (RAIN) market for the software segment is expected to grow at the fastest pace during the forecast period. The technology sector has been witnessing a significant rise in demand for UHF RFID software in recent times. This is due to the fact that the solutions simplify the deployment time and significantly reduces the cost of deployment. These benefits have attracted various end-users. Pertaining to the rising demand for software, the majority of the UHF RFID (RAIN) market players are offering solutions. For instance, Zebra Technologies Corp, offers RFID reader solutions for various industries such as retail, healthcare, manufacturing, transportation and logistics, warehouse and distribution, and banking industry. The company offers different solutions for desktop and mobile for easy integration across their business processes. This solution is designed by the company to offer enhanced customer experience by enabling smarter operation handling and innovation in inventory handling across all sectors. Technology Solutions (UK) Ltd; RFID Solutions, Inc.; Cisper Electronics B.V.; and USTEK RFID Solutions are among the other players offering UHF RFID (RAIN) solution.

APAC is characterized by many developing countries, a positive economic outlook, high industrial presence, huge population, and rising disposable income. All these factors make APAC a major growth driving region for various markets, including UHF RFID (RAIN) market. Many online shoppers and the growing e-commerce sector in this region present a huge opportunity for the growth of the UHF RFID (RAIN) market. Due to the pandemic, social distancing and home isolation have pushed the consumers toward online shopping. Nevertheless, uncertain consumer demand and supply chain problems have affected the UHF RFID (RAIN) industry in the region. The e-commerce supply chains are mainly strained by the pandemic and factory closures in China. The lockdown of various factories in China affected the global supply chains and negatively impacted manufacturing activities, delivery schedules, and various products and services. Even as the factories in China are beginning to reopen, several logistics businesses have reduced or paused their operations; thus, some cargo terminals are shut due to low volume. The automotive industry in China is witnessing adverse impact of the pandemic. The country is the world’s largest car market, and Wuhan city is home to various auto plants, such as Honda, General Motors, Nissan, and Renault. As per the World Economic Forum (WEF), for Honda Company alone, the city holds ~50% of total production in China. In 2019, in China, Hubei Province was the fourth-largest car manufacturer, with ~10% of China’s car-making capacity and manufactured 2.24 million vehicles. However, several auto companies were closed amid nationwide shutdown. Hence, it resulted in a decline in car and its spare part sales. The restrictions imposed on human movement in APAC countries to control the spread of novel coronavirus that causes COVID-19 have negatively impacted the retail business, especially the businesses of hypermarkets, supermarket, and specialty stores.

The overall APAC UHF RFID (RAIN) market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the APAC UHF RFID (RAIN) market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the APAC UHF RFID (RAIN) market. CAEN RFID S.r.l; Convergence Systems Limited; Impinj, Inc.; Invengo Technology Pte. Ltd.; Jadak- A Novanta Company; Murata Manufacturing Co., Ltd.; NXP Semiconductors N.V.; Securitag Assembly Group Co., LTD (SAG); Walki Group Oy are among the key players operating in the APAC UHF RFID (RAIN) market.

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