Europe UHF RFID (RAIN) Market
The UHF RFID (RAIN) market in Europe is witnessing significant growth, and the region held the second-largest share in 2019 in the global market. In this region, the UHF RFID systems have been assigned the frequency range of 865–868 MHz European countries exhibit diverse consumer habits as well as high internet connectivity, disposable income, and literacy levels. These factors encourage the growth of the retail sector, including e-commerce, in the region. As per a recent study, in 2019, the cross-border e-commerce in the Europe accounted for ~US$ 173.66 billion, and the online vendors accounted for ~58% of this value. Further, as per the Centre for Retail Research, ecommerce sales in the Western European region were worth US$ 307.99 billion in 2019. Thus, with the growing sales in the retail industry, the demand for UHF RFID is surging tremendously in Europe. As per the study by LogicaCMG, the RFID is highly used by European retailers, food manufacturers, and logistic service providers. Several major companies in the UK, the Netherlands, Germany, Ireland, France, and Belgium, consider RFID technology as an integral part of their planned IT investments. The use of UHF RFID in the automotive and transportation industry offers industry assembly tracking tools. Also, surge in counterfeiting activities in retail sector is a major factor driving the Europe UHF RFID (RAIN) market.
Due to the COVID-19 outbreak, Russia, UK, France, Spain, Italy, and Germany are some of the worst affected member states in the European region. Businesses in the region face severe economic difficulties as they had to suspend their operations or substantially reduce their activities. Due to business lockdowns, travel bans, and supply chain disruptions, the region experienced an economic slowdown in 2020 and, most likely, in 2021. The member states of Europe, such as Italy, Spain, and Germany, have implemented drastic measures and travel restrictions to limit the spread of coronavirus among its citizens. European countries represent a major market for UHF RFID (RAIN) adoption due to the rising e-commerce and automotive industries. Since several European countries are in the phase of lockdowns, warehouses have been closed. In Germany, several fashion retailers, shoe and sports shops, and electronics stores are affected due to this pandemic. Additionally, major automotive plants were temporarily closed, leads to a decrease in the shipments of car spare parts, where UHF RFID plays an important role to efficiently track the products. All these factors are expected to have a direct impact on UHF RFID (RAIN) market growth in European countries. Russia, Italy, Spain, Germany, UK, and France UHF RFID (RAIN) markets are anticipated to see a decrease till mid-2021.
Strategic insights for the Europe UHF RFID (RAIN) provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 568.39 Million |
| Market Size by 2027 | US$ 1,549.64 Million |
| Global CAGR (2020 - 2027) | 13.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe UHF RFID (RAIN) refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The UHF RFID (RAIN) market in Europe is expected to grow from US$ 568.39 million in 2019 to US$ 1,549.64 million by 2027; it is estimated to grow at a CAGR of 13.5% from 2020 to 2027. The demand for commercial vehicles and passenger cars, primarily in developing nations, is surging exponentially. Europe, a developed region for automotive sector, is also witnessing a huge growth in automotive production; for instance, according to Organisation Internationale des Constructeurs d’Automobiles (OICA), the region registered the production of 21,312,082 commercial and passenger vehicle units in 2019. 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, is propelling the demand for UHF RFID technologies.
The Europe UHF RFID (RAIN) market is segmented into component, and application. Based on component, the market is segmented into hardware and software and services. The hardware segment held the largest share of Europe UHF RFID (RAIN) market in 2019. The UHF RFID (RAIN) market, based on application, is segmented into retail and consumer goods, logistics and transportation, healthcare, manufacturing, and other applications. The market for the retail and consumer goods segment held the largest share of Europe UHF RFID (RAIN) market in 2019.
A few major primary and secondary sources referred to for preparing this report on the UHF RFID (RAIN) market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.; Walki Group Oy.
The List of Companies - Europe UHF RFID (RAIN) Market
The Europe UHF RFID (RAIN) Market is valued at US$ 568.39 Million in 2019, it is projected to reach US$ 1,549.64 Million by 2027.
As per our report Europe UHF RFID (RAIN) Market, the market size is valued at US$ 568.39 Million in 2019, projecting it to reach US$ 1,549.64 Million by 2027. This translates to a CAGR of approximately 13.5% during the forecast period.
The Europe UHF RFID (RAIN) Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe UHF RFID (RAIN) Market report:
The Europe UHF RFID (RAIN) Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe UHF RFID (RAIN) Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe UHF RFID (RAIN) Market value chain can benefit from the information contained in a comprehensive market report.
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