Bluetooth Low Energy (BLE) Segment to Dominate Europe Real-Time Location Systems Market during 2021–2028
According to The Insight Partners market research study on “Europe Real-Time Location Systems Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Offering, Technology, Industry Vertical, and Application” is expected to reach US$ 5,320.48 million by 2028 from US$ 1,116.64 million in 2021. The market is estimated to grow at a CAGR of 25.0% from 2021 to 2028. The report provides trends prevailing in the Europe real-time location systems market along with the drivers and restraints pertaining to the market growth. Booming ecommerce industry is the major factor driving the growth of the Europe real-time location systems market. However, issues associated with the security concerns regarding tag technology hinder the growth of Europe real-time location systems market.
The Europe real-time location systems market is segmented on the bases of offering, technology, industry vertical, application, and country. Based on offering, the Europe real-time location systems market is segmented into hardware, software, and services. The hardware segment dominated the market in 2020, and services segment is expected to be the fastest growing during the forecast period. Further, the hardware segment is categorized into tags/badges, readers/trackers/access points, and others. By technology, the market is segmented into radio frequency identification (RFID), Wi-Fi, ultra-wideband (UWB), Bluetooth Low Energy (BLE), ultrasound, infrared (IR), GPS, and others. The Bluetooth Low Energy (BLE) segment dominated the market in 2020 and Infrared (IR) segment is expected to be the fastest growing during the forecast period. Based on industry vertical, the market is segmented into heavy industries, manufacturing, retail, oil & gas, automotive, transportation and logistics, construction, government and defense, education, and others. The retail segment dominated the market in 2020, and education segment is expected to be the fastest growing during the forecast period. By application, the market is segmented into personnel/staff locating and monitoring, access control and security, environmental monitoring, warehouse management and monitoring, supply chain management and operational automation/visibility, and others. The personnel/staff locating and monitoring segment dominated the market in 2020, and is expected to be the fastest growing during the forecast period. In terms of country, the Europe real-time location systems market is segmented into— Germany, UK, France, Italy, Russia, Rest of Europe.
Several European countries have experienced significant rise in spread of the COVID-19 virus. For instance, Russia, the UK, Italy, Spain, Germany, and France, among others are the countries with highest number of cases. The stupendous growth in the spread of the virus led the governments to undertake stringent measures to contain the virus during the first wave. The countries mentioned earlier houses numerous manufacturing facilities, which are considered to be one of the power houses of real-time location system market. In addition, the closure of supermarkets in the countries mentioned above during the initial and peak times of virus spread has resulted in substantial decrease in demand for real-time location system among the retailers. The majority of the businesses in the region focused on continuity of their business utilizing the existing resources (both human and technologies) rather than investing on newer technologies. However, the adoption of real-time location system gained traction from the first quarter of 2021.
AiRISTA Flow Inc.; Aruba Networks; Decawave Limited; Impinj, Inc.; Siemens AG; Sonitor Technologies AS; Stanley Black & Decker, Inc.; TeleTracking Technologies Inc; Ubisense; and Zebra Technologies Corporation the leading companies in the Europe real-time location system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Ubisense announced a strategic partnership with Advanced Realtime Tracking (ART), a leader in Optical Tracking Systems, to provide sequence control solutions for assembly processes. The SmartSpace technology by Ubisense perfectly complements the ART VERPOSE camera-based vision system, thereby expanding the company's effective portfolio.
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