RFID Market to Hit $6 Billion in 2011, Report Says
ABI Research, an Oyster Bay, N.Y.–based market-intelligence company specializing in emerging technology, released a report that the overall radio frequency identification (RFID) market—including asset management and supply-chain management—will pass the $6 billion mark in 2011.
The forecast is a product of ABI’s 2010 annual overview of the entire RFID market and marks a turnaround from a downward trend in 2008 and 2009.
“In response to the weakened economy, most RFID and [Real Time Locating System] value chain participants reported reductions to marketing expenditure, staff and on-hand inventory levels beginning in late 2008 and continuing throughout 2009,” said Practice Director Michael Liard in a statement. The market began to show signs of growth again in late 2009. “That trend continues in 2010,” Liard said.
The report points to Wal-Mart’s recent multi-billion unit passive ultra-high frequency RFID apparel tag and 15,000 hand-held reader [Request for Proposal] orders and its expected U.S. rollout as proof of the RFID market’s positive outlook and growth potential.—Erin Barajas
