Despite economic challenges, 2009 saw strong growth in RFID-based technologies, reports RNCOS. With growing end-user interest and awareness of the technology across various applications and verticals, RFID is emerging as a truly reliable identification option. Despite economic challenges, 2009 saw strong growth in RFID-based technologies, reports RNCOS. With growing end-user interest and awareness of the technology across various applications and verticals, RFID is gradually emerging as a truly reliable identification option. In addition, the entry of new players into the market, the re-qualification of some companies in the direction of RFID, the launch of innovative services and products, improvements in technology, the evolution of standards, as well as overall market knowledge are advantages of the RFID industry.
Following the new report of RNCOS company "Global Market Analysis RFID Between now and 2010, the radio frequency identification technology market is expected to grow at a CAGR of approximately by 17% over the period 2011-2013 to approximately $9.7 million. Overall growth of RFID is expected to outpace other automatic identification technologies such as barcode. The reason for this phenomenal growth is that various applications across different verticals are emerging based on this technology.
At the regional level, Asia Pacific will witness the highest level of growth in terms of revenue.The region is expected to account for 27% of the total RFID by 2013. Regions such as Europe and North America are also focusing on improving their business processes in the area of RFID technologies. For example, the RFID market in Germany is expected to grow at a CAGR of 19% over the forecast period. < ... Following the analysis, organizations in European countries use RFID mainly for personal identification/access control, while in Asia-Pacific countries, logistics and retail are the main usage sectors. RFID href="/library/technology/modern-rfid.html">RFID technologies. Other application verticals such as transportation, consumer goods will continue to use the technology in almost all regions in the near future, and security solutions, pharmaceuticals, and healthcare are undergoing increased adoption and are expected to drive growth in the RFID.
This report presents an extensive research and calculated analysis of the market RFID around the world. Various RFID applications that are already in use, as well as those that will only be implemented in various verticals, were published in the report in order to see the current situation and future prospects of these verticals. The report also validates the viability of this technology in the global market and helps consumers analyze the opportunities and critical success factors of the global RFID industry in both short and long terms. In addition, the report includes the RFID market development trends in different key countries around the world.
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