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RFID Industry Growth: An Exceptional Forecast



June 27, 2024 — The RFID industry continues to expand, as evidenced by a recent report by RAIN RFID Alliance and VDC Research: RAIN RFID 2024 Market Report. RFID tag shipments are projected "to soar to 115 billion units by 2028, driven by an annual growth rate of 20.4%", writes RAIN RFID. This explosion in tag volume indicates a further reduction in cost per tag, making now an all more attractive time to implement RFID.


The report also highlights many diverse applications of RAIN RFID. "Historically concentrated in inventory and supply chain management within retail, RAIN RFID applications are being adopted for new use cases including loss prevention, and anti-counterfeiting," explains RAIN RFID. These benefits haven't yet been realized by the many retail suppliers unprepared to meet RFID tagging mandates set forth by Walmart, Target, Macy’s, Nordstrom, and several others. Fortunately the costs of RFID implementation continue to drop, making now a more attractive time to reap the benefits of retail digitization.


A new trend, suppliers and 3PLs are installing overhead RFID readers at warehouse zones and dock doors to track the movement of inventory and shipments. Improvements to efficiency quickly become obvious as manual barcode scanning has proven to be significantly more labor intensive and time consuming. A more affordable and versatile POC, Trilliott SmartSITE Digital Warehouse™ fully integrates with RFID handsets and readers enabling palletized receiving and put-away, item-level picking, pallet and truckload shipment validation, and the capability to "find a lost part" to optimize on-time deliveries.


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Trilliott SmartSITE™ is an RFID-first warehouse management and supply chain service for businesses to digitize high-value, high-demand inventory and assets, improve accuracy and control, secure and analyze transactions, and manage asset lifecycle.​

 

Media Contact:

Franklin Kalmbach

Product Manager

Trilliott, Inc.

+1-919-832-8642

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