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RFID market seen at $4.6B by the end of 2010

Posted: 23 Nov 2010 ?? ?Print Version ?Bookmark and Share

Keywords:RFID? market forecast? revenue?

ABI Research reports that RFID markets are going to see continuing strong growth worldwide in the next two years.

The market watcher forecasts a total market size of about $4.6 billion by the end of 2010 for RFID hardware, software, and services. Total market reaches $5.5 billion if hardware-only shipments to support automobile immobilization are included.

It says that by the end of 2011, global RFID system markets (without immobilization) will amount to almost $5.3 billion, or 16 percent growth over 2010. RFID systems software revenue will outpace that from services, transponders and readers. When automobile immobilization is included, total market size will tip $6.2 billion, or 13 percent growth.

One of the fastest growing areas is retail deployments. "Item-level apparel tracking is probably the biggest area to watch in 2010-2011 and beyond," Michael Liard, research director, autoID and smart cards, notes, "especially due to Wal-Mart's 'jeans and basics' tagging announcement." Other key retailers are JCPenney, Marks & Spencer and American Apparel.

Another growth area is asset tracking and management applications, especially in healthcare, aerospace and defense manufacturing, transportation and logistics.

UHF transponders are expected to boom, according to Liard. "ABI Research expects to see a CAGR of 74 percent in passive UHF transponders from 2010 to 2014 thanks to burgeoning demand within key applications such as retail apparel tagging and asset management," Liard noted.

Geographically, the, "Rest of World" region, including the Middle East, Latin America, South Africa and others, are expected to adopt RFID solutions faster than the more industrialized regions. Currently only 7 percent of the overall RFID market, it is expected to grow rapidly because of the increased focus on using RFID in the Middle East in the oil and gas space and for construction; in Latin America for animal ID, food safety, and retail; and in South Africa for returnable transport items, among others.

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