NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2008/07/04 - The European RFID industry is expected to make up for around 40% of the global RFID industry by 2016 with the growing use of technology in the retail sector.
According to “European RFID Industry Outlook (2007-2010)”, a new market research report by RNCOS, the European RFID (Radio Frequency Identification) industry is expected to contribute about 40% share in the worldwide RFID industry in 2016.
The report says that the RFID technology has been famous and is in use in some applications in Europe from a long time. But several of its new alleged applications have come into the light recently. Also, recognizing the potential benefits it offers, RFID technology has become a vital point of discussion on the agenda for many logistic service providers, food manufacturers and retailers of the continent.
The RFID technology is rapidly making its place in the supply chain of Europe’s retail sector, which is expected to be the largest sector. Though there has been low in-store retail sector activity in Europe, but it is likely to grow in future.
As RFID technology can be put into use to developing individualized consumer services crucial in attaining high level of accuracy of differential pricing structure, a large number of major retailers such as Metro and Tesco have already given signs to start a wide-scale introduction of the technology. With this trend, the application of RFID in supply chain will become very common at the Stock Keeping Unit (SKU)-level, while item-level tagging will remain limited to the high value goods. Thus, the market for RFID tags in the retail industry of Europe is projected to surpass 3.4 Million by 2010, says the RNCOS report.
A market research report, “European RFID Industry Outlook (2007-2010)” provides comprehensive analysis with statistical data on the European RFID industry. The report gives rational analysis on different aspects of the industry, key driving factors, opportunities and challenges critical to the success of the European RFID industry to help clients in navigating through the competitive market. It also provides analysis on various countries, such as Germany, the UK, Italy, the Netherlands, France, Finland and Denmark. The report provides forecast on important parameters of the industry, like RFID tags in retail industry by region and share of RFID tags usage in retail trade.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.