At 25.5% CAGR, Europe Real-Time Location Systems Market is Projected to be worth US$ 10,219.75 million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe real-time location systems market was valued at US$ 1,661.65 million in 2023 and is expected to reach US$ 10,219.75 million by 2031, registering a CAGR of 25.5% from 2023 to 2031. The emergence of 5G and the growing e-commerce sector are among the critical factors attributed to driving the Europe real-time location systems market growth.

The 5G network is ∼100 times faster than the 4G network, making real-time data acquisition easier. As the 5G network provides strong connectivity and high-speed data transfer, its demand is increasing across the world. According to the Groupe Speciale Mobile Association (GSMA), 5G penetration across the world is expected to reach 54% by 2030 from 17% in 2022. North America has the highest 5G penetration, with 39% in 2022; it is expected to reach 91% by 2030. 5G penetration in Asia Pacific (except China) and Europe is expected to increase from 4% and 11% in 2022 to 41% and 87% by 2030, respectively. As 5G is the critical new-generation network technology that can enable innovation and support digital transformation, its demand is increasing across the world. Therefore, the governments of various countries are investing in 5G infrastructure. In July 2021, the government of France announced its plan to invest about US$ 2.06 billion (EUR 1.7 billion) in its 5G market by 2025 via public and private investments. Through this, the government aims to accelerate the development of 5G in the country. Growing investments in 5G will help improve connectivity and acquire real-time data, including real-time location tracking, which can be used for various applications, from navigation to emergency services. Therefore, the emergence of the 5G network is expected to create lucrative opportunities for the real-time location systems market during the forecast period.

Additionally, the SLAM technology has benefited from the rapid adoption of the 5G networks. As SLAM relies on real-time data acquisition and processing to map environments and track locations, the fast data transfer speeds offered by the 5G enhance the efficiency and accuracy of SLAM-based systems. 5G provides increased connectivity for devices using SLAM, such as autonomous vehicles, drones, and augmented reality devices, which can transmit and process data in real time, even in complex environments. The widespread rollout of 5G infrastructure, supported by government investment, is expected to create new opportunities for the real-time location system market, driven by the enhanced capabilities of SLAM in a 5G-enabled world.

On the contrary, rising concerns regarding data privacy and security hamper the growth of Europe real-time location systems market .

By offerings, the Europe real-time location systems market is divided into hardware, software, and services. The hardware segment held a 67.5% share of Europe real-time location systems market share in 2023, amassing US$ 1,122.26 million. It is projected to garner US$ 6,764.69 million by 2031 to register 25.2% CAGR during 2023–2031.

In terms of technology, the Europe real-time location systems market is segmented into RFID, UWB, BLE, ultrasound, infrared, GPS, Wi-Fi, and ZIGBEE. The BLE segment held a 29.1% share of Europe real-time location systems market share in 2023, amassing US$ 484.26 million. It is projected to garner US$ 2,688.17 million by 2031 to register 23.9% CAGR during 2023–2031.

Based on industry vertical, the Europe real-time location systems market is segmented into retail, government and defense, manufacturing, healthcare, logistics, heavy industries, construction, oil and gas, automotive, and others. The healthcare segment held 16.8% share of Europe real-time location systems market share in 2023, amassing US$ 279.21 million. It is projected to garner US$ 2,003.85 million by 2031 to register 27.9% CAGR during 2023–2031.

By application, the Europe real-time location systems market is divided into personnel or staff locating and monitoring, environmental monitoring, access control and security, warehouse management and monitoring, supply chain management and operation automation or visibility, and others. The supply chain management and operation automation or visibility segment held 28.1% share of Europe real-time location systems market share in 2023, amassing US$ 467.15 million. It is projected to garner US$ 2,782.97 million by 2031 to register 25.0% CAGR during 2023–2031.

Based on country, the Europe real-time location systems market is categorized into Germany, France, Italy, Spain, the UK, Sweden, Belgium, Netherlands, and the Rest of Europe. Our regional analysis states that Germany captured 22.6% share of Europe real-time location systems market in 2023. It was assessed at US$ 375.53 million in 2023 and is likely to hit US$ 2,952.23 million by 2031, registering a CAGR of 29.4% during 2023–2031.

Key players operating in the Europe real-time location systems market are AiRISTA Flow Inc, Aruba Networks, Impinj Inc, Kudan Inc, Microsoft Corp, NavVis GmbH, Qorvo Inc, Sevensense Robotics AG, Siemens AG, Slamcore Ltd, Sonitor Technologies AS, Stanley Black & Decker Inc, TeleTracking Technologies Inc, Ubisense Ltd, and Zebra Technologies Corp, among others.

• In 2024: Houston Airports partnered with HPE Aruba Networking solution to adopt a Wi-Fi 6E-enabled HPE Aruba Networking solution.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com