Europe UHF RFID (RAIN) Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software, and Services) and Application (Retail and Consumer Goods, Logistics and Transportation, Healthcare, Manufacturing, and Other Applications)
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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.
France, Germany, Italy, Russia, and UK are major economies in Europe. Surge in counterfeiting activities is the major factor driving the Europe UHF RFID (RAIN) market. Growing complexities in supply chains—due to outsourcing, internationalization, and e-retailing—are leading to mitigation of control over various activities, which has led to vulnerabilities in these supply chains. Counterfeiting is a widespread issue that impacts various businesses. At present, the issue is limited to luxury products and goods such as beauty products and apparel. For instance, Louis Vuitton, the French handbag designer company, has been a favorite target of counterfeiters. Furthermore, sports giants such as Reebok and Adidas are taking on the ever-growing number of counterfeits. They filed the trademark suit in federal court against ~50 online sellers for selling, promoting, and providing for sale and distributing quantities of footwear. This lawsuit comes during the attention to the rising counterfeit-centric posts on Facebook platforms, which also comprise sponsored content that sellers pay Instagram to post. Thus, Reebok and Adidas are seeking US$ 2 million from each of the defendants for every counterfeit trademark used. The cases of counterfeits are gradually decreasing with the introduction of UHF RFID technology, as it makes copying or faking the trademark difficult and delivers a multi-layered defense against attacks on supply chain. With this technology, one can identify an individual item, determine its location, and review its chain of custody. Gathering this data makes it easier to handle the supply chain and identify counterfeits.
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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe UHF RFID (RAIN) market. The Europe UHF RFID (RAIN) market is expected to grow at a good CAGR during the forecast period.
Europe UHF RFID (RAIN) Market Segmentation
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
Europe UHF RFID (RAIN) Market - Companies Mentioned
- 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
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