New forecasts predict that the total global RFID market will turnover
approximately $9.7bn by 2013.
ABI Research said that the figure represents a 15 per cent compound annual
growth rate for the sector from 2008.
"These figures highlight an RFID market that is growing robustly," said ABI
Research director Michael Liard.
"Across all product categories and flavours of RFID technology, market trends
continue to be positive. We saw a strong finish to 2007, which continued into a
healthy 1Q 2008."
Growth is due to major sponsors of the technology such as European aerospace
manufacturer Airbus, which recently announced a significant commitment to RFID
for numerous projects throughout its supply chain and assembly operations.
In January, Sam's Club announced an RFID customer compliance programme, while
in Europe and Asia, Metro AG is interested in RFID supply chain applications.
Most recently, the US Department of Defense backed the use of RFID.
"Future RFID market growth will come from many sources and applications. ABI
Research sees growing strength across many industries, including applications
unique to particular verticals, as well as those that are common to a range of
verticals," said Liard.
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