Inkwood Research projects that the Global UHF RFID (RAIN) Market is set to grow with a CAGR of 11.59% in terms of revenue during the forecasting years of 2021-2028.
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A UHF RFID reader uses a UHF (ultra-high frequency) range
between 840 MHz and 960 MHz. RFID reader emits radio waves of particular
frequencies through RFID antennas. The data processed by the reader can be
integrated into the application.
RFID
Technology Use in the Healthcare Sector fuels Market Growth
The healthcare industry benefits from RFID with regard to
efficiencies in patient care, patient safety, tracking, etc. RFID tags can
minimize misidentification issues in healthcare and authenticate patients and
medicals staff during interventions like blood sampling and medication
administration. In addition, the technology can aid in tracking patients and
equipment, especially wandering patients with elopement risk, like those
suffering from dementia and Alzheimer’s. Also, in newborn monitoring, the
technology aids in matching newborns and prevent abduction risks.
Furthermore, the technology can enhance hand hygiene tracking
compliance and practices, thereby minimizing hospital-acquired infections.
Also, the technology can automatically track product receipt and inventory
management. It can improve efficiency over standard barcode technology by
reading multiple tags at once. Such aspects of the technology drive its use in
the healthcare sector.
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Fastest-Growing
Component: Software
There has been an increasing demand for UHF RFID software in
the technology sector. This is because the solutions simplify the deployment
time and reduce the deployment costs significantly. These benefits have
attracted several end-users.
Also, with the rising demand for software, most UHF RFID
(RAIN) companies are offering solutions. For example, Zebra Technologies Corp
provides RFID reader solutions for several industries like manufacturing,
warehouse & distribution, retail, manufacturing, banking, etc.
Dominating
Region: North America
The surging growth of the retail sector in North America is
raising the demand for UHF RFID technology. This is because the technology aids
in tracking inventory efficiently. Therefore, the companies are developing the
technology to accommodate the increasing needs of the retail sector. Also, the
region is a leader with regard to the adoption of automation.
The growing competitive rivalry in the market is attributed
to the flourishing e-commerce sector. Lowry Solutions Inc, Impinj Inc, Linxens,
Murata Manufacturing Co Ltd, Invengo Technology PTE Ltd, etc., are among the eminent
market players.
About Inkwood
Research
Inkwood Research specializes in syndicated & customized
research reports and consulting services. Market intelligence studies with
relevant fact-based research are customized across industry verticals such as technology,
automotive, chemicals, materials, healthcare, and energy, with an objective
comprehension that acknowledges the business environments. Our geographical
analysis comprises North & South America, CEE, CIS, Middle East, Europe,
Asia, and Africa.
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