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ABI Research forecasts steady growth for RFID sector

Posted: 21 Nov 2007     Print Version  Bookmark and Share

Keywords:RFID technology  RFID market forecast  e-passports 

Revenues for global RFID markets will jump to Rs.33,221.87 crore ($8.4 billion) in 2012, up 21 per cent CAGR from this year's Rs.15,028.94 crore ($3.8 billion), according to ABI Research.

"Given the recent amount of activity and anticipation surrounding RFID technology, one might be tempted to believe the RFID market has been experiencing explosive growth," says research director Michael Liard. "But while uptake of full-scale RFID systems remains slower than many in the industry had hoped, steady growth continues. There is an overall sense of cautious optimism in the market."

While few large RFID implementations have been announced, extensive pilot programs and closed-loop deployments are demonstrating the value propositions and cost justification for RFID. For example, asset tracking in health care, WIP tracking in manufacturing as well as returnable transport items including pallets and containers provide significant ROI and opportunity to amortise the cost of transponders over several years, said ABI Research in its report RFID Annual Market Overview.

So what's the hot and to watch-out apps in the RFID arena?

"Asset tracking and RTLS applications continue to gain traction across vertical markets," says Liard.

From pilots to small implementations to full deployments, activity has been brisk for passive and active solutions. The fashion apparel and footwear item-tagging market is also undergoing heavy pilot and trial activity, especially within Europe via programs at Marks and Spencer and Metro. Government ID documents are another strong volume segment, particularly for e-passports and national ID cards (such as that of China).




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