RFID markets set to reach $8.4 billion by 2012
According to a new report released by ABI Research, worldwide RFID markets are expected to achieve revenue of $8.4 billion in 2012. The 2007 figure of more than $3.8 billion represents a 24% growth over 2006 and, according to the study the curve to 2012 indicates a compound annual growth rate of 21%.
While the uptake of RFID has been slower than many had hoped, ABI claims that extensive pilot programmes and closed-loop deployments are now demonstrating the value and cost justification for RFID, particularly in sectors such as footwear. Research director Michael Liard commented, “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.”
He added, “The fashion apparel and footwear item-tagging market is also undergoing heavy pilot and trial activity, especially within Europe via programmes at Marks and Spencer and Metro.”
ABI Research focuses on the impact of emerging technologies on global consumer and business markets.
