Despite the worsening global economic picture, revenue from RFID technology sales will still hit $5.6 billion by the end of 2009, according to ABI Research’s latest market survey. The firm’s data indicates that while some project deployments have been delayed or canceled, the market does continue to grow in a fragmented fashion.

ABI’s report says that the RFID market is worthy of cautious optimism in the near to mid-term, pointing to investment in passive UHF technology as a high point in the industry right now. Despite struggles RFID providers share with many other industries currently, according to ABI, the research firm does not characterize the industry as in a state of turmoil or despair.