RFID software market will grow to $500 million by 2016

RFID software continues to grow in uptake and according
to the latest forecasts from ABI Research, software revenues are set to
increase at a compound annual growth rate (CAGR) of more than 20 percent
through 2016.

RFID is proving its value across a wide range of
verticals, from automotive to retail to healthcare. RFID tags and readers may
capture real-time data, but it takes software packages to make that data useful
to the organization. RFID-focused software revenue should approach $500 million
in 2016,” said Bill Arnold, principal analyst at ABI Research.

ABI Research
sees this software as belonging to two classes: Platform” and Line of
Business (LOB).” Platforms handle the raw information and hand it off to other
relevant software systems such as accounting, reporting, or resource management
systems. LOB software enables specific activities such as warehouse operations,
inventory management, or other daily operational tasks, generally at a
departmental level as opposed to the whole organization.

The LOB software category is growing more rapidly overall.
It is becoming much easier to configure, and if matched with an appropriate
RFID ‘platform’, many of the costly integration discussions of the past no
longer apply. The software has to be both hardware- and technology-agnostic.
Getting it to this level of application specificity has been challenging and
has required intense, constant investment in enhancing the software’s
capabilities; all while average prices continue to decline,” Arnold added.

By telecomlead.com Team

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