Abstract
The economic recession has affected many industries such as manufacturing,
retail, logistics, automotive, etc; however, the growth of RFID will continue
in industries such healthcare, pharmaceuticals, airline, manufacturing etc.
This can be attributed to the fact that the RFID suppliers will continue to
invest in RFID technology for these sectors. Also, they are likely to explore
new markets and applications for their expansion; thus, creating new
opportunities for the RFID players. The RFID market has gone through a
transition, with focus on meeting compliances with regulations. Also, the
focus is on revenue generation and innovation. Innovation in the RFID
applications comprises tracking inventory on a real time basis and using it
for production, storage, shipping, and distribution.
The RFID technology buyers are driven by greater functionality features and
return on investment. Another driving force for the RFID market is that the
governments of different countries are focusing on allocation of frequency and
harmonization of RFID bands. This is likely to ensure greater interoperability
and credibility to the market. For example, the Chinese government had
invested in RFID for the national identification card scheme; the US
government for military; and the British government for passports. Moreover,
the government of different countries is looking for RFID to combat terrorism,
crime, and threatened epidemics of disease.
The report by TechNavio Insights forecasts the size of the Global RFID Market
over the period 2008-2012. It segments the market into various geographic
regions. It also provides RFID market segmentation by frequency and by
technology. Further, it discusses the key market drivers by industry, market
trends, challenges and growth prospects of the Global RFID Market, and
profiles some of the key vendors of this market.
TechNavio Insights is a set of reports based on TechNavio - a market
intelligence platform for the IT industry. It builds on the intelligence
available within TechNavio, and leverages on the custom research experience of
the ' Technology Navigators' . TechNavio is built on years of experience of
Infiniti Research in deep dive custom research and consulting for over 30
Fortune 500 companies and numerous large and mid-sized companies.
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