Thursday, September 16, 2010

Forecast report: RFID market to exceed $6 bill next year

The radio frequency identification (RFID) market will surpass $6 billion next year, according to the forecast trend firm, ABI Research.
"Overall 2009 continued the forward momentum for both RFID solution providers and the user community," said Michael Liard, ABI's practice director. "That trend continues in 2010," he said.

The latest ABI research indicates a compound annual growth rate of between 21.7 percent and 28.8 percent for the five primary applications over the period 2010-2014.

The firm's research includes traditional the RFID applications of access control, automobile immobilization, electronic toll collection and e-ID/ID documents, along with the "modernizing" applications of animal ID, asset management, baggage handling, cargo tracking/security, contactless payment and ticketing, RTLS, and supply chain management.

Wal-Mart's recent multi-billion unit passive UHF RFID apparel tag and 15,000+ handheld reader RFP order was cited in the report as an example of the industry sector's pickup, reportedly sparking renewed interest in "item-level tracking."

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