Two new reports look at RFID growth
Two recent studies illustrate the tremendous potential growth analysts are predicting for the RFID industry in the next few years.
First, IDTechEx has offered a new look at the entire industry, and the consulting company predicts that global demand for RFID will reach $5.3 billion this year and climb to $27 billion in 2018. The U.S. and China continue to spend the most on RFID, and the apparel business is implementing the technology at a particularly rapid pace.
The majority of spending on RFID relates to passive-tag systems and high-frequency and ultra-high frequency technologies, according to the research. “Real-Time Locating Systems (RTLS) are currently the hottest form of active RFID,” according to IDTechEx.
Meanwhile, Reportbuyer.com is offering a new report, “RFID in Pharmaceutical Manufacturing,” which takes an in-depth look at one corner of the RFID market. The report finds that the market for RFID applications in pharmaceuticals is conservatively estimated to reach $600 million by 2012.
The report shows that the adoption of RFID is driven by two key factors: a drop in the cost of RFID hardware (about 80% since 2000) and the promise of major savings. With the implementation of RFID, large manufacturers can save $17-55 million annually, while large distributors can save about $10 million. In addition, as much as 40% of inventory can be managed more efficiently. ![[end]](/resources/bullet/rfidnews-4.gif)
