Market Introduction
The MEA UHF RFID (RAIN) market is further segmented into South Africa, Saudi Arabia, the UAE, and the rest of the MEA. The UAE is the most advanced country in this region, and its government focuses on boosting the overall retail infrastructure of the country by leveraging technological advancements.
Major infrastructural shift in the Middle East is compelling retailers to change their business models both commercially and operationally. The growth of the retail sector across the region owing to the rise in spending powers of people in Saudi Arabia and the UAE, among others, is encouraging retailers to make significant investments in their businesses. New and high-end retail projects such as Level Kids—a luxury store that combines designer clothing for children—and Café Bateel, a gourmet food store and restaurant, have introduced new retail concepts in the region. They built franchises of well-known international brands. Thus, the rising investments are boosting the adoption of advanced technologies such as UHF RFID across the stores to manage operations more efficiently. Also, automotive manufacturers witnessing production increment is the among other major factor driving the MEA UHF RFID (RAIN) market.
Saudi Arabia, and UAE. The region comprises many growing economies such as UAE and Saudi Arabia, which are prospective markets for UHF RFID (RAIN) providers due to the huge presence of a diverse customer base for the retail and e-commerce industry. The global COVID-19 pandemic would have significant effects on global economies, but the region has negatively impacted as there is already pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns, business shutdowns, and travel bans are further aggravating the economic problems of the countries in the region. Hence, the estimated decline in MEA’s economic condition and impact of COVID-19 on the growth of various industries in the region is expected to negatively impact the growth of the market till mid-2021.
Market Overview and Dynamics
The UHF RFID (RAIN) market in MEA is expected to grow from US$ 73.27 million in 2019 to US$ 167.84 million by 2027; it is estimated to grow at a CAGR of 11.1% from 2020 to 2027. 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. 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.
Key Market Segments
The MEA UHF RFID (RAIN) market is segmented into component, and application. Based on component, the market is segmented into hardware and software and services. The hardware segment held the largest share of MEA UHF RFID (RAIN) market in 2019. The UHF RFID (RAIN) market, based on application, is segmented into retail and consumer goods, logistics and transportation, healthcare, manufacturing, and other applications. The market for the retail and consumer goods segment held the largest share of MEA UHF RFID (RAIN) market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the UHF RFID (RAIN) market in MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are CAEN RFID S.r.l; Impinj, Inc.; Invengo Technology Pte. Ltd.; Jadak- A Novanta Company; Murata Manufacturing Co., Ltd.; and NXP Semiconductors N.V.
Reasons to buy report
MEA UHF RFID (RAIN) Market Segmentation
MEA UHF RFID (RAIN) Market - By Component
MEA UHF RFID (RAIN) Market - By Application
MEA UHF RFID (RAIN) Market - By Country
MEA UHF RFID (RAIN) Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 73.27 Million |
| Market Size by 2027 | US$ 167.84 Million |
| CAGR (2020 - 2027) | 11.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Component
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa UHF RFID (RAIN) Market is valued at US$ 73.27 Million in 2019, it is projected to reach US$ 167.84 Million by 2027.
As per our report Middle East and Africa UHF RFID (RAIN) Market, the market size is valued at US$ 73.27 Million in 2019, projecting it to reach US$ 167.84 Million by 2027. This translates to a CAGR of approximately 11.1% during the forecast period.
The Middle East and Africa UHF RFID (RAIN) Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa UHF RFID (RAIN) Market report:
The Middle East and Africa UHF RFID (RAIN) Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa UHF RFID (RAIN) Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa UHF RFID (RAIN) Market value chain can benefit from the information contained in a comprehensive market report.
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