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Global RFID shipments reached $89M in 2002

Posted: 29 Apr 2003 ?? ?Print Version ?Bookmark and Share

Keywords:venture development? vdc? rfid?

According to the recently published Global Markets and Applications for RFID Equipment and Contactless Smartcard Systems, 4th Edition by Venture Development Corp. (VDC), global shipments of RFID hardware to support supply chain management applications reached nearly $89 million in 2002, with compounded annual growth estimated at slightly more than 38 percent

through 2007.

The VDC research revealed that present RFID channels are largely underdeveloped and ill-prepared to handle widespread adoption. For larger supply chain management installations, qualified integrators are needed to take RFID system components and securely integrate them into a large-scale enterprise resource planning system or local databases.

The report added that the RFID market significantly lacks experienced, knowledgeable resellers and integrators at present. To expand their presence in the supply chain market, many RFID vendors have been revamping their RFID education programs to include Web-based training, educational and training seminars, and sales coaching. However, further educational improvements are needed to capture opportunities within the supply chain and keep in pace with the growing RFID market.

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