New York, May 31, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Europe UHF RFID Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Component and Application” – https: // www. reportlinker.com/p06075685/?utm_source=GNW
The industry strengthens the reach of many businesses to customers, providing them with the visibility they need. The growing emphasis on online marketing tools, such as Facebook and Google ads, has helped the retail industry flourish. In the retail industry, radio frequency identification (RFID) is widely adopted for clothing labeling. Clothing vendors are gradually exploiting the digitalization and analysis of big data using RFID applications. RFID is a mature technology that uses radio waves to transmit RFID tag data to a reader, which can identify objects based on the captured data or track their location. Several retail giants, such as H&M, Lululemon, Zara and Nike, use UHF RFID technology for inventory management, which helps them generate a more efficient supply chain, combat items counterfeit products and to avoid out-of-stock situations. Lululemon, a sports retail giant, has increased its e-commerce sales by implementing RFID to track product movement through its stores. The company uses the 1128 UHF Bluetooth RFID reader, offered by Technology Solutions (UK) Ltd., to streamline the receipt of goods and weekly inventory tracking. Thus, such partnerships help UHF RFID market players to launch advanced chips for readers, thereby enabling them to meet the dynamic needs of retailers, and such progressive initiatives by market players have fueled the market growth. In addition, the rise of counterfeit activities in the retail sector is a major factor in the European UHF RFID (RAIN) market.
Based on applications, the retail and consumer goods segment dominated the European UHF RFID (RAIN) market in 2019. Inventory visibility and returns processing is more critical for retail omnichannel.
The best inventory management is provided by RAIN technology to maximize revenue, minimize stockouts and excess inventory, and increase employee and customer satisfaction. Consumer goods enables companies to increase the accuracy of inventory results and increase sales, as well as this also improves labor productivity.
For example, Haier is one of the world’s leading suppliers of washing machines, producing a variety of different sub-brands under the broad umbrella. Long-distance transportation of bulky and heavy machinery created problems for the company.
This made erroneous submissions very costly to manage. To tag their entire inventory in 200 separate warehouses, they used RAIN RFID. Likewise, Inditex has also implemented UHF RFID tags to tag all items in its inventory to provide an overview of the stock they have, from the factory to the distribution center, wherever it is located. Thus, the advantages mentioned above influence the adoption of UHF RFID solutions across the industry.
Due to the COVID-19 outbreak, Russia, UK, France, Spain, Italy and Germany are among the most affected member states in Europe. face serious economic difficulties as they have had to suspend their activities or considerably reduce their Activities.
Due to trade lockdowns, travel bans and supply chain disruptions, the region experienced an economic slowdown in 2020, and this slowdown is highly likely to continue into 2021. European member states such that Italy, Spain and Germany have implemented drastic measures and travel restrictions to limit the spread of the new coronavirus among its citizens.
European countries represent a major market for UHF RFID (RAIN) adoption due to the boom in e-commerce and the automotive industry. As several European countries are in the lockdown phase, warehouses have been closed.
In Germany, several fashion retailers, shoe and sporting goods stores and electronics stores are affected. In addition, major auto factories have been temporarily closed, resulting in lower shipments of auto spare parts, where UHF RFID plays an important role in effectively tracking products. All these factors are hampering the growth of the European UHF RFID (RAIN) market. UHF RFID (RAIN) markets in Russia, Italy, Spain, Germany, UK and France are expected to decline through mid-2021.
The overall Europe UHF RFID (RAIN) market size has been calculated using primary and secondary sources To begin the research process, exhaustive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information on the market.
The process also serves to get an overview and forecast of the European UHF RFID (RAIN) market with respect to all the segments in the region.Moreover, multiple primary interviews were conducted with players in the industry and commentators to validate the data, as well as to gain more analytical information on the topic.
Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as valuation experts, research analysts and key opinion leaders, specializing in the UHF RFID Europe (RAIN) market. CAEN RFID Srl; Convergence Systems Limited; Impinj, Inc .; Invengo Technology Pte. Ltd .; Jadak – A Novanta company; Murata Manufacturing Co., Ltd .; NXP Semiconductors NV; Walki Group Oy is one of the main players in the market.
Read the full report: https://www.reportlinker.com/p06075685/?utm_source=GNW
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