Growing E-Commerce Sector Drive Europe Real-Time Location Systems Market.
Since the COVID-19 pandemic, there has been a surge in online shopping across the world. E-commerce sales have witnessed a significant growth rate over recent years. Also, Europe is a key region supporting e-commerce growth. According to Eurostat, in 2022, 91% of people aged 16-74 years in the European Union (EU) countries used the internet, of which ∼ 75% ordered goods or services online. Also, the proportion of e-shoppers grew to 75% in 2022 from 55% in 2012, an increase of 20% over the last decade. Many shoppers in Europe prefer online shopping platforms such as Amazon, Target, and Walmart, which majorly drives the growth of the e-commerce sector in Europe. The growing demand for online shopping is pushing companies to make retail cost-efficient and faster, which raises the need to optimize supply chain management and build robust solutions to meet the demands. In the e-commerce sector, the real-time location system helps monitor and locate goods and provides resourceful insights to distribution center operators to make data-driven decisions rather than relying on educated guesses. Thus, the growing e-commerce sector and the increasing need for making data-driven decisions drive the real-time location system market growth.
Europe Real-Time Location Systems Market Overview
The real-time location system market in Europe is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The region is witnessing significant investments in its oil & gas sector. The North Sea continues to be one of the prime sources for the oil & gas sector in Europe. Currently, there are several projects in the pipeline in the region. In May 2023, Neptune Energy announced that it had started production from its Adorf Z17 natural gas well in Germany. It is expected that the Adorf license will increase Neptune’s production by 1,800 boed (barrels of oil equivalent per day) to ~6,300 boed. Thus, due to the growing oil and gas exploration in the region, the need to monitor overall operation at the plant has become necessary to provide alerts at the time of any disaster. Here, RTLS can help track the location of personnel and assets on the floating platforms, refineries, tools and equipment warehouses, and drilling rigs. Also, using sensors, the system helps gather critical data, such as the temperature of LNG pipelines and H2S gas leak detection. Thus, due to the above benefits, the demand for RTLS in the oil & gas industry in Europe is expected to rise during the forecast period.Along with the oil & gas industry, the demand for RTLS is also expected to increase in manufacturing, automotive, construction, and other industries, as it helps monitor and improve the operations in the above industries. Because of the rising demand for RTLS, the market players in the region are continuously working on advancing their solutions. For instance, in March 2023, Quuppa, a Finland-based technology provider for RTLS and indoor positioning systems, announced its partnership with Panasonic Industry to enable Bluetooth functionality for Logiscend Software 3.0. Under this partnership, Quuppa’s system is combined with Panasonic VIEW tags, which will further help eliminate paper and provide real-time instructions to the manufacturing floor. Thus, growing oil & gas industry and increasing innovations by market players in the region are fueling the growth of the real-time location system market in the region.
Europe Real-Time Location Systems Market Revenue and Forecast to 2030 (US$ Million)
Europe Real-time location systems market Segmentation
The Europe real-time location systems market is segmented into offering, technology, industry vertical, application, and country.Based on offering, the Europe real-time location systems market is segmented into hardware, software, and services. In 2023, the hardware segment registered a largest share in the Europe real-time location systems market.
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. In 2023, the Bluetooth low energy (BLE) segment registered a largest share in the Europe real-time location systems market.
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, others. In 2023, the retail segment registered a largest share in the Europe real-time location systems market.
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. In 2023, the supply chain management and operational automation/visibility segment registered a largest share in the Europe real-time location systems market.
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. In 2023, Germany segment registered a largest share in the Europe real-time location systems market.
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 are the leading companies operating in the Europe real-time location systems market.
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AiRISTA Flow Inc
- Aruba Networks
- Impinj Inc
- Qorvo Inc
- Siemens AG
- Sonitor Technologies AS
- Stanley Black & Decker Inc
- TeleTracking Technologies Inc
- Ubisense Ltd
- Zebra Technologies Corp
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 196 |
Published | August 2023 |
Forecast Period | 2023 - 2030 |
Estimated Market Value in 2023 | 1625.09 Million |
Forecasted Market Value by 2030 | 8762.3 Million |
Compound Annual Growth Rate | 27.2% |
Regions Covered | Europe |