RFID growth potential remains strong

 

Despite
the 2008-2009 economic setbacks, the RFID market rebounded in 2010, growing
more than 14 percent to reach roughly $5.3 billion.

 

When
automobile immobilization hardware is extracted from the total, the market grew
close to 18 percent, capturing nearly $4.4 billion. ABI Research’s ongoing
research and data collection efforts reveal a projected total market size of
nearly $6 billion in 2011, reflecting more than 11 percent growth. The 2011
forecast without automobile immobilization is $5 billion, growing in excess of
14 percent over 2010.

 

ABI Research foresees
variation in demand and the pace of adoption between applications, verticals,
regions and technologies, with the retail apparel sector in particular
displaying something of a slowdown in growth this year. However the bottom line
is that across the market as a whole we continue to see strong potential for
future growth.

 

The
fastest-growing application between now and 2016 will be item-level tracking in
supply-chain management, which ABI Research estimates will exceed a 37 percent
growth rate,” said Michael Liard, research director, ABI Research.

 

The
fastest-growing verticals over our five-year forecast period (in descending
order) will be retail CPG, retail in-store, healthcare and life sciences,
diverse non-CPG manufacturing, and commercial services,” says Liard.

 

By
TelecomLead.com Team
editor@telecomlead.com