Worldwide radio frequency ID markets are expected to reach $8.4bn in 2012 from a base of $3.8bn in 2007, experts predict.
ABI Research said that the 2007 figure represents 24 per cent growth over 2006, and that the growth curve to 2012 indicates a compound annual growth rate of 21 per cent.
"Given the recent activity and anticipation surrounding RFID technology, one might be tempted to believe that the RFID market has been experiencing explosive growth," said ABI Research director Michael Liard.
"But while uptake of full-scale RFID systems remains slower than many in the industry had hoped, steady growth continues and there is an overall sense of cautious optimism in the market."
Liard pointed out that, while few large RFID implementations have been announced, extensive pilot programmes and closed-loop deployments are demonstrating the value propositions and cost justification.
"From pilots to small implementations to full deployments, activity has been brisk for passive and active solutions," the analyst said.
"The fashion apparel and footwear market is undergoing heavy pilot and trial activity, especially within Europe via programmes at Marks & Spencer and Metro.
"Government ID documents are another strong volume segment, particularly for e-passports and national ID cards in China."
Technology enjoying 'robust' growth 21 May 2008Radio chips used to track people and animals 06 Mar 2008
Airline joins forces with BAA to carry out six-month trial 21 Feb 2008
500,000 buildings to be kitted out by 2013 20 May 2008
Report claiming solar panels take over 100 years to recoup their value is just plain wrong, say manufacturers 05 Sep 2008
New hybrid hatchback designed to make dual-drive vehicles more affordable 05 Sep 2008
Republican attempts to highlight differences over energy policy as both candidates pledge to deliver US energy independence 05 Sep 2008
More news
Once your company has gathered up all the low-hanging fruit, what comes next? Sarah Fister Gale finds that the answer lies in everything from multi-million dollar energy efficiency programmes to printers powered by exercise bikes 03 Sep 2008
Slow journey times mean airships are highly unlikely to replace passenger jets, but, as Danny Bradbury discovers, a flotilla of new companies are convinced that low-fuel costs mean the old-fashioned aircraft could have huge appeal to freight operators 02 Sep 2008
Recent claims from the oil giant's chief executive suggesting tar sand extraction is required to slow the shift to coal may have caught the eye, but as BusinessGreen.com discovers they do not make much sense 28 Aug 2008 More in-depth
Post your comment
Send an email to the Business Green editor at feedback@businessgreen.com
