At 11.4% CAGR, the Europe RFID Market is projected to be worth US$ 11,456.34 million by 2030, says Business Market Insights

According to Business Market Insights research, the Europe RFID market was valued at US$ 5,371.36 million in 2023 and is expected to reach US$ 11,456.34 million by 2030, registering a CAGR of 11.4% from 2023 to 2030. Increasing uses of RFID technology in healthcare and retail industries and rising deployment of RFID technology are the critical factors attributed to the Europe RFID market expansion.        

RFID tags are attached to objects and contain a unique identifier that RFID readers can read. RFID readers can track the movement of objects in real time and collect data about the objects, such as their temperature, humidity, or location. Use of RFID helps track the movement of confidential documents, ensuring they are secure and not tampered with. RFID tags contain the GS1 Serial Shipping Container Code (SSCC) standard as a shipment identifier. In this contract, the passive RFID is used instead of the active RFID to reduce the contract cost.

RFID tags can be attached to waste bins to track their location. This information can be used to improve the efficiency of waste collection routes and ensure that bins are not overflowing. The traceability and real-time monitoring applications are expected to offer lucrative opportunities for the Europe RFID market in the coming years.

On the contrary, availability of RFID alternatives hampers the Europe RFID market.

Based on type, the Europe RFID market is segmented into active and passive. The passive segment held 69.7% share of Europe RFID Market in 2023, amassing US$ 3,743.94 million. It is projected to garner US$ 7,747.73 million by 2030 to expand at 10.9% CAGR during 2023–2030. 

Based on frequency band, the Europe RFID market is segmented into low frequency, high frequency, and ultrahigh frequency. The high frequency segment held 55.0% share of Europe RFID Market in 2023, amassing US$ 2,952.57 million. It is projected to garner US$ 6,349.69 million by 2030 to expand at 11.6% CAGR during 2023–2030.

Based on end user, the Europe RFID market is segmented into public sector, healthcare, education, sports & recreation, hospitality, residential, BFSI, manufacturing, telecommunications, and others. The hospitality segment held 20.7% share of Europe RFID Market in 2023, amassing US$ 1,111.34 million. It is projected to garner US$ 2,641.49 million by 2030 to expand at 13.2% CAGR during 2023–2030.

Based on product, the Europe RFID market is segmented into cards, key fob, smartphones, band, and others. The cards segment held 50.1% share of Europe RFID Market in 2023, amassing US$ 2,425.85 million. It is projected to garner US$ 5,181.46 million by 2030 to expand at 11.5% CAGR during 2023–2030.

Based on offering, the Europe RFID market is segmented into tags, readers, and software & services. The tags segment held 66.3% share of Europe RFID Market in 2023, amassing US$ 3,560.13 million. It is projected to garner US$ 7,589.88 million by 2030 to expand at 11.4% CAGR during 2023–2030.

Based on application, the Europe RFID market is segmented into parcel & mailboxes, lockers, ticketing, and others. The others segment held 64.4% share of Europe RFID Market in 2023, amassing US$ 3,457.13 million. It is projected to garner US$ 7,637.85 million by 2030 to expand at 12% CAGR during 2023–2030.

Based on country, the Europe RFID market has been categorized into France, Germany, the UK, Italy, Russia Sweden, Belgium, Netherlands, Switzerland, and the Rest of Europe. Our regional analysis states that Germany captured 22.4% share of Europe RFID Market in 2023. It was assessed at US$ 1,203.14 million in 2023 and is likely to hit US$ 2,713.31 million by 2030, exhibiting a CAGR of 12.3% during the forecast period.      

Key players operating in the Europe RFID market are APK Identification; Assa Abloy AB; dormakaba Holding AG; Honeywell International Inc; Impinj Inc; OMRON Corp; Siemens AG; and Zebra Technologies Corp, among others.

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