Report : Europe Real-Time Location Systems Market Forecast to 2030 - COVID-19 Impact and Regional Analysis - by Offering (Hardware, Software, and Services); Technology [Radio Frequency Identification (RFID), Ultra-wideband (UWB), Bluetooth Low Energy (BLE), Ultrasound, Infrared (IR), GPS, Wi-Fi, ZigBee]; Industry Vertical (Heavy Industries, Manufacturing, Retail, Oil & Gas, Automotive, Construction, Government and Defense, Logistics, Others); and Application (Personnel/Staff Locating and Monitoring, Access Control and Security, Environmental Monitoring, Warehouse Management and Monitoring, Supply Chain Management and Operational Automation/Visibility, and Others)
At 27.2% CAGR, the Europe Real-Time Location Systems Market is speculated to be worth US$ 8,762.30 million by 2030, says Business Market Insights
According to Business Market Insights research, the Europe Real-time location systems market was valued at US$ 1,625.09 million in 2023 and is expected to reach US$ 8,762.30 million by 2030, registering a CAGR of 27.2% from 2023 to 2030. Rising Demand for Connected Devices and growing e-commerce sector are the critical factors attributed to the Europe Real-time location systems market expansion.
The demand for connected devices, including smartphones; tablets; and different wearable devices such as smartwatches, fitness trackers, VR headsets, web-enabled glasses, smart jewelry, and Bluetooth headsets, is increasing across the world. Smartphones and tablets help the user accurately track location information in real time. The devices help the user to know the real-time traffic scenario and find the fastest route to the destination. It also assists parents to monitor the movement of their children through different location-tracking apps. Therefore, the adoption of smartphones and tablets is increasing tremendously. Similarly, the smartphone adoption rate in Europe would increase from 84% in 2022 to 91% by 2030. In many industries, wearables are used to track and manage personnel. For instance, miners can be tracked under deep tunnels and alerted if signs of distress occur. Similarly, wearables are used for dementia patients to track their location if they go missing or get themselves in danger and need emergency help. The demand for connected devices is increasing owing all the above benefits, which is fueling the growth of the Europe real-time location systems market.
On the contrary, rising concerns regarding data privacy and security hurdles the growth of Europe Real-time location systems market.
Based on offering, the Europe real-time location systems market is segmented into hardware, software, and services. The hardware segment held 67.5% share of Europe Real-time location systems market in 2023, amassing US$ 1,097.58 million. It is projected to garner US$ 5,815.20 million by 2030 to expand at 26.9% CAGR during 2023–2030.
Based on technology, the Europe real-time location systems market is segmented into radio frequency identification (RFID), ultra-wideband (UWB),bluetooth low energy (BLE), ultrasound, infrared (IR), gps, wi-fi, zigbee. The bluetooth low energy (BLE) segment held 29.1% share of Europe Real-time location systems market in 2023, amassing US$ 473.61 million. It is projected to garner US$ 2336.96 million by 2030 to expand at 25.6% CAGR during 2023–2030.
Based on industry vertical, the Europe real-time location systems market is segmented into heavy industries, manufacturing, retail, oil & gas, automotive, construction, government and defense, logistics, and others. The retail segment held 15.8% share of Europe Real-time location systems market in 2023, amassing US$ 256.31 million. It is projected to garner US$ 1,773.54 million by 2030 to expand at 31.8% CAGR during 2023–2030.
Based on application, the Europe real-time location systems 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, others. The supply chain management and operational automation/visibility segment held 28.1% share of Europe real-time location systems market in 2023, amassing US$ 456.88 million. It is projected to garner US$ 2,396.06 million by 2030 to expand at 26.7% CAGR during 2023–2030.
Based on country, the Europe real-time location systems market is segmented 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$ 367.27 million in 2023 and is likely to hit US$ 2,469.22 million by 2030, exhibiting a CAGR of 31.3% during the forecast period.
Key players profiles in the Europe real-time location systems market report AiRISTA Flow Inc, Aruba Networks, Impinj Inc, Qorvo Inc, Siemens AG, Sonitor Technologies AS, Stanley Black & Decker Inc, TeleTracking Technologies Inc, Ubisense Ltd, and Zebra Technologies Corp, among others.
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