Press release
Europe RFID Market Growing at a Highest CAGR with Top Companies like Alien Technology, LLC, AWID, CAEN RFID S.r.l, GAO RFID Inc., Impinj, Inc. among Others
Europe RFID Market – Industry Trends and Forecast to 2025
Europe RFID Market is expected to reach USD 8,564.27 million by 2024 from USD 2,689.12 million in 2016, at a CAGR of 15.7% in the forecast period 2017 to 2024. The new market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
The major factors driving the growth of this market are increase demand of RFID Technology in retail industry, enforced laws for labelling animals, increasing use of security and access control application and increasing installation of RFID in manufacturing units and for productivity improvement. On the other hand, high cost of RFID and device interoperability may hinder the growth of the market.
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Market Segmentation:
The Europe RFID market is segmented on the basis of on the basis of products, end user and geography. The global RFID market is segmented into tags, readers and software tools. In 2017, the tags segment is expected to dominate the market with a share of 56.5% and is expected to continue this trend till 2024.
Based on end user, the global RFID market is segmented into industrial, transportation, retail, consumer package goods, healthcare, education and others.
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Key Drivers:
Some of the major factors driving the market for RFID market are increase demand of RFID technology in retail industry and enforced laws for labelling animals. These factors increase the demand for RFID market. Increasing installation of RFID in manufacturing units and for productivity improvement and increasing use of security and access control application are the other major factors driving the growth of the non-destructive testing equipment market
High cost of RFID and device interoperability are the factor which may hinder the growth of this market
Many companies are increasingly focusing on variability in the RFID tag with sensors and IOT based RFID labelling in order to strengthen their product portfolios in the RFID market.
Key Points:
Nedap N.V.is going to dominate the RFID market following with Smartarc N.V. and CCL Industries Inc. along with others such as Alien Technology, LLC, AWID, CAEN RFID S.r.l, GAO RFID Inc., Impinj, Inc., Invengo Technology Pte. Ltd., Mojix, Inc.,ThingMagic, Honeywell International Inc., and ZIH Corp. among others.
Tags market is growing with the highest CAGR
Plastic material are driving the market with highest market share
Industrial are dominating the RFID market
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Related Report
Global RFID Market – Industry Trends and Forecast to 2024
Global RFID Market, By Product Type (Tags, Readers, Software), By End User (Industrial, Transportation, Retail, Consumer Package Goods, Healthcare, Education, Others) By Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa)- Industry Trends and Forecast to 2024
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Key Questions Answered in Europe RFID Market
Report:-
What will the market growth rate, Overview and Analysis by Type of Europe RFID Market in 2024?
What are the key factors driving, Analysis by Applications and Europe RFID Market?
What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Europe RFID Market?
What are Opportunities, Risk and Driving Force of Europe RFID Market?
What are the opportunities and threats faced by the vendors in Europe RFID Market?
What are the Europe RFID Market opportunities, market risk and market overview of the Market?
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