Wednesday, April 18, 2012

#WIRELESS: "Radio Frequency Identification Skyrockets"

Radio Frequency Identification (RFID) tags will grow by over $1 billion in 2012, on track the generate tens of billions over the next five years, according to Allied Business Intelligence (ABI Research, Oyster Bay, N.Y.) While near-field communications (NFC) is now also offering ultra-inexpensive identification tag technologies that can be scanned with the readers built into many smartphones, RFIDs is a more mature technology and will likely remain dominant in commercial applications such as inventory control. R. Colin Johnson

Here is what ABI Research says about their new market report on RFIDs: The market for RFID transponders, readers, software, and services will generate $70.5 billion from 2012 to the end of 2017. The market was boosted by a growth of $900 million in 2011 and the market is expected to grow 20% YOY per annum. Government, retail, and transportation and logistics have been identified as the most valuable sectors, accounting for 60% of accumulated revenue over the next five years.

ABI Research’s new study, “RFID Market by Application and Vertical Sector,” provides a comprehensive overview and summary of the impact that the latest product launches, new entrants, and changing market dynamics will have on the future direction and evolution of the market. It provides an excellent introduction and guide for those new to the market, as well as a timely update for those experienced within the RFID market.
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