RFID: Technology, Applications, and Global Markets

June 27, 2011

Wellesley, Mass. – In a recent release, RFID: TECHNOLOGY, APPLICATIONS, AND GLOBAL MARKETS (IAS020B) from BCC Research (www.bccresearch.com), the global market value for radio frequency identification (RFID) technologies was $6.4 billion in 2010. That value is projected to reach $11.3 billion in 2015 as it increases at a five-year compound annual growth rate (CAGR) of 12.1%.

The global RFID technology market can be broken down into two segments –  one made up of tags, readers and other hardware; and the other of software and integration services.

The hardware segment was valued at $4.9 billion in 2010, and in 2015 should be worth $8.5 billion, yielding a CAGR of 11.5%.

The software segment, worth nearly $1.5 billion in 2010, should rise at a CAGR of 14% to $2.8 billion in 2015.

RFID is a technology that uses radio frequency waves to exchange data between a reader and a movable object in order to locate, identify, or track that object. RFID can be viewed as a competitor to traditional bar coding, and while they are different technologies and have some different applications, overlap also occurs.

RFID has many advantages over bar coding. When reading items, RFID has a much higher throughput than bar coding, which can only read one object at a time. Line of sight is required for bar-code reading, and the tags are easily damaged, while RFID requires no line of sight, and can not only read but also modify, update, and write data. Other advantages include requiring almost no human labor once the RFID system is running, the ability to encrypt information, as well as trigger events such as door openings or alarm soundings.

The report will be of interest to a broad audience, but is intended primarily for the RFID community, specifically manufacturers, distributors, and vendors; consultants and systems integrators; regulatory, health, environmental, and other government agencies; and researchers, finance departments, and analysts.

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RFID: Technology, Applications, and Global Markets( IAS020B )
Publish Date: Oct 2010    

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