Europe UHF RFID (RAIN) Market is expected to reach US$ 1,549.64 Mn by 2027

Retail and Consumer Goods Segment to Dominate Europe UHF RFID (RAIN) Market during 2019–2027

According to The Insight Partners market research study on “Europe UHF RFID (RAIN) Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and Application” is expected to reach US$ 1,549.64 million by 2027 from US$ 568.39 million in 2019. The market is estimated to grow at a CAGR of 13.5% from 2020 to 2027. The report provides trends prevailing in the Europe UHF RFID (RAIN) market along with the drivers and restraints pertaining to the market growth. Surge in counterfeiting activities is among the major factor driving the growth of the Europe UHF RFID (RAIN) market. However, concerns about RAIN RFID technology's security hinders the growth of Europe UHF RFID (RAIN) market.     

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. 

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.   

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 are among the leading companies in the Europe UHF RFID (RAIN) 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 2020, Impinj, Inc. announced a launch of RAIN RFID Reader, namely, Impinj R700 reader, for next-gen IoT solutions. The product offers high performance with the fastest network connectivity and robust edge processing for next-gen IoT solutions.    

The report segments the Europe UHF RFID (RAIN) Market follows:

 Europe UHF RFID (RAIN) Market – By Component

• Hardware
  • Tags and Labels
  • Readers
  • Printers
  • Other Hardware
• Software
• Services

Europe UHF RFID (RAIN) Market – By Application

• Retail and Consumer Goods
• Logistics and Transportation
• Healthcare
• Manufacturing
• Other Applications

Europe UHF RFID (RAIN) Market – By Country

• France
• Germany
• Italy
• UK
• Russia
• Rest of Europe