Global revenues for radio frequency identification (RFID) products will grow
by almost a third this year to reach $1.2bn.
Analyst firm
Gartner
said that the upward trend is set to continue, and that worldwide revenues will
top $3.5bn within the next four years.
"The market for RFID technologies has begun to transition from
compliance-oriented to revenue-generating and innovative," said Gartner analyst
Chad Eschinger in a statement.
"Early adopters faced tight profit margins and pressed technology providers
for lower hardware costs. Fortunately for the market, this trend has waned and
innovation rather than cost is becoming a key driver for adoption."
As companies move from pilot projects to a new "exploration phase", important
drivers include the need to comply with new regulations and a growing thirst for
in-store inventory management projects, according to Gartner.
However, the analyst warned that customers remain cautious. "While the
interest for RFID technologies is high, today's buyer is more discriminating and
is cautious of over-hyped technologies," said Eschinger.
"They will be looking for greater functionality and return on investment."
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Greater integration between mobile devices and consumer electronics 24 Dec 2007
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